Seaward Management Limited Partnership Reduces Stake in Apache Corp. (APA)
Seaward Management Limited Partnership decreased its stake in shares of Apache Corp. (NYSE:APA) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,934 shares of the energy company’s stock after selling 125 shares during the period. Seaward Management Limited Partnership’s holdings in Apache Corp. were worth $553,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of APA. BlackRock Group LTD increased its stake in shares of Apache Corp. by 7.4% in the first quarter. BlackRock Group LTD now owns 4,036,362 shares of the energy company’s stock worth $197,015,000 after buying an additional 279,015 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of 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 last quarter. EagleClaw Capital Managment LLC increased its stake in shares of Apache Corp. by 2.7% in the first quarter. EagleClaw Capital Managment LLC now owns 36,709 shares of the energy company’s stock worth $1,791,000 after buying an additional 953 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of Apache Corp. by 14.1% in the first quarter. Ngam Advisors L.P. now owns 70,708 shares of the energy company’s stock worth $3,451,000 after buying an additional 8,759 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of Apache Corp. during the first quarter worth approximately $390,000. Institutional investors and hedge funds own 91.25% of the company’s stock.
Apache Corp. (NYSE:APA) traded up 0.18% on Thursday, reaching $61.00. The company had a trading volume of 7,239,837 shares. Apache Corp. has a 52-week low of $32.20 and a 52-week high of $62.19. The stock’s 50-day moving average price is $53.76 and its 200 day moving average price is $53.44. The firm’s market capitalization is $23.14 billion.
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 return on equity of 4.16% and a negative net margin of 261.91%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 38.5% on a year-over-year basis. On average, equities analysts anticipate that Apache Corp. will post ($0.69) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. Apache Corp.’s dividend payout ratio is currently -2.78%.
A number of analysts have recently commented on the company. Wolfe Research upgraded Apache Corp. from an “underperform” rating to a “market perform” rating in a research note on Monday, September 12th. Jefferies Group restated a “sell” rating on shares of Apache Corp. in a research note on Thursday, August 11th. Citigroup Inc. downgraded Apache Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $53.00 in a research note on Tuesday, August 9th. They noted that the move was a valuation call. Credit Suisse Group AG restated a “hold” rating and issued a $67.00 target price on shares of Apache Corp. in a research note on Monday, September 12th. Finally, Credit Agricole SA started coverage on Apache Corp. in a research note on Wednesday, June 22nd. They issued an “underperform” rating on the stock. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. Apache Corp. presently has a consensus rating of “Hold” and a consensus price target of $57.44.
About Apache Corp.
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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