Pacific Heights Asset Management LLC Continues to Hold Position in Apache Corp. (APA)
Pacific Heights Asset Management LLC continued to hold its stake in shares of Apache Corp. (NYSE:APA) during the second quarter, Holdings Channel reports. The fund owned 200,000 shares of the energy company’s stock at the end of the second quarter. Pacific Heights Asset Management LLC’s holdings in Apache Corp. were worth $11,134,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in APA. NN Investment Partners Holdings N.V. purchased a new stake in Apache Corp. during the first quarter valued at $107,000. Zions Bancorporation raised its stake in Apache Corp. by 0.9% in the first quarter. Zions Bancorporation now owns 2,332 shares of the energy company’s stock valued at $115,000 after buying an additional 21 shares during the last quarter. Williams Jones & Associates LLC purchased a new stake in Apache Corp. during the first quarter valued at $120,000. JNBA Financial Advisors raised its stake in Apache Corp. by 99.1% in the second quarter. JNBA Financial Advisors now owns 2,578 shares of the energy company’s stock valued at $144,000 after buying an additional 1,283 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Apache Corp. by 44.8% in the first quarter. IFP Advisors Inc now owns 3,725 shares of the energy company’s stock valued at $182,000 after buying an additional 1,152 shares during the last quarter. 91.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apache Corp. (NYSE:APA) traded up 0.13% during midday trading on Monday, reaching $63.95. The company’s stock had a trading volume of 2,899,887 shares. The stock’s market cap is $24.26 billion. The firm has a 50-day moving average of $55.81 and a 200-day moving average of $54.04. Apache Corp. has a one year low of $32.20 and a one year high of $66.00.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results 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 analyst estimates of $1.31 billion. During the same period last year, the firm posted $0.22 earnings per share. Apache Corp.’s quarterly revenue was down 38.5% compared to the same quarter last year. On average, analysts forecast that Apache Corp. will post ($0.71) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is presently -2.78%.
Several research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Apache Corp. from an “underperform” rating to a “market perform” rating in a research report on Monday, September 12th. Jefferies Group reiterated a “sell” rating on shares of Apache Corp. in a research report on Thursday, August 11th. Citigroup Inc. downgraded shares of Apache Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $53.00 in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Credit Suisse Group AG reiterated a “hold” rating and set a $67.00 price target on shares of Apache Corp. in a research report on Monday, September 12th. Finally, Barclays PLC downgraded shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $45.00 to $49.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $57.92.
In other Apache Corp. news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total value of $204,514.64. Following the transaction, the insider now directly owns 12,755 shares of the company’s stock, valued at $777,289.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is owned by company insiders.
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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