Greylin Investment Mangement Inc. raised its stake in Apache Co. (NYSE:APA) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,835 shares of the energy company’s stock after purchasing an additional 50,970 shares during the period. Apache accounts for about 1.0% of Greylin Investment Mangement Inc.’s holdings, making the stock its 19th biggest position. Greylin Investment Mangement Inc.’s holdings in Apache were worth $4,220,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Private Capital Group LLC purchased a new position in Apache in the second quarter valued at approximately $37,000. CSat Investment Advisory L.P. boosted its holdings in shares of Apache by 152.8% in the second quarter. CSat Investment Advisory L.P. now owns 1,909 shares of the energy company’s stock valued at $56,000 after acquiring an additional 1,154 shares during the period. NEXT Financial Group Inc boosted its holdings in shares of Apache by 4,074.7% in the second quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock valued at $91,000 after acquiring an additional 3,056 shares during the period. HM Payson & Co. acquired a new stake in shares of Apache in the second quarter valued at approximately $123,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Apache by 49.9% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,109 shares of the energy company’s stock valued at $148,000 after acquiring an additional 1,700 shares during the period. Institutional investors own 95.31% of the company’s stock.
In other Apache news, Director John E. Lowe bought 5,000 shares of Apache stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $21.83 per share, with a total value of $109,150.00. Following the completion of the acquisition, the director now owns 30,000 shares in the company, valued at $654,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by company insiders.
Apache (NYSE:APA) last issued its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.07. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Analysts anticipate that Apache Co. will post 0.22 earnings per share for the current fiscal year.
The firm also recently announced a — dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a yield of 4.1%. The ex-dividend date is Monday, October 21st. Apache’s dividend payout ratio (DPR) is currently 56.50%.
Several research firms have recently weighed in on APA. Bank of America decreased their price objective on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. MKM Partners began coverage on Apache in a report on Monday, September 16th. They issued a “neutral” rating and a $26.00 price objective for the company. SunTrust Banks began coverage on Apache in a report on Monday, September 23rd. They issued a “buy” rating and a $32.00 price objective for the company. Citigroup increased their price objective on Apache from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, TheStreet downgraded Apache from a “c-” rating to a “d+” rating in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.70.
Apache Company Profile
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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