First Merchants Corp raised its position in Apache Corp. (NYSE:APA) by 189.6% during the second quarter, Holdings Channel reports. The firm owned 15,986 shares of the energy company’s stock after buying an additional 10,466 shares during the period. First Merchants Corp’s holdings in Apache Corp. were worth $890,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of APA. Orbis Allan Gray Ltd acquired a new stake in Apache Corp. during the first quarter worth about $746,349,000. Dodge & Cox increased its stake in Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock worth $1,428,167,000 after buying an additional 3,245,030 shares during the period. Norges Bank acquired a new stake in Apache Corp. during the fourth quarter worth about $138,091,000. Franklin Resources Inc. increased its stake in Apache Corp. by 11.2% in the first quarter. Franklin Resources Inc. now owns 15,268,708 shares of the energy company’s stock worth $745,272,000 after buying an additional 1,537,564 shares during the period. Finally, First Quadrant L P CA increased its stake in Apache Corp. by 3,213.1% in the second quarter. First Quadrant L P CA now owns 354,500 shares of the energy company’s stock worth $19,735,000 after buying an additional 343,800 shares during the period. 91.25% of the stock is owned by hedge funds and other institutional investors.

Shares of Apache Corp. (NYSE:APA) traded up 5.91% on Wednesday, reaching $60.89. The company had a trading volume of 7,520,898 shares. The company has a 50-day moving average price of $53.50 and a 200-day moving average price of $53.39. The firm’s market cap is $23.10 billion. Apache Corp. has a one year low of $32.20 and a one year high of $60.94.

Apache Corp. (NYSE:APA) last issued its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative net margin of 261.91% and a negative return on equity of 4.16%. The business earned $1.38 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down 38.5% compared to the same quarter last year. On average, analysts expect that Apache Corp. will post ($0.69) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.64%. Apache Corp.’s payout ratio is -2.78%.

A number of equities analysts have weighed in on APA shares. Atlantic Securities upgraded Apache Corp. from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $70.00 in a report on Monday, September 12th. Raymond James Financial Inc. upped their price target on Apache Corp. from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, September 8th. Citigroup Inc. cut Apache Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $53.00 in a report on Tuesday, August 9th. They noted that the move was a valuation call. Wells Fargo & Co. restated an “outperform” rating on shares of Apache Corp. in a report on Wednesday, July 6th. Finally, Deutsche Bank AG upped their price target on Apache Corp. from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, September 8th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.44.

Apache Corp. Company Profile

Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).

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