Apache Corp. (APA) Stake Lowered by ING Groep NV
ING Groep NV lowered its stake in shares of Apache Corp. (NYSE:APA) by 53.1% during the second quarter, Holdings Channel reports. The firm owned 10,691 shares of the energy company’s stock after selling 12,107 shares during the period. ING Groep NV’s holdings in Apache Corp. were worth $595,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Orbis Allan Gray Ltd bought a new position in shares of Apache Corp. during the first quarter valued at approximately $746,349,000. Legal & General Group Plc increased its position in shares of Apache Corp. by 7.4% in the first quarter. Legal & General Group Plc now owns 1,934,901 shares of the energy company’s stock valued at $94,439,000 after buying an additional 134,090 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Apache Corp. by 43.6% in the first quarter. Envestnet Asset Management Inc. now owns 92,870 shares of the energy company’s stock valued at $4,533,000 after buying an additional 28,204 shares during the period. Retirement Systems of Alabama increased its position in shares of Apache Corp. by 40.9% in the second quarter. Retirement Systems of Alabama now owns 273,838 shares of the energy company’s stock valued at $15,245,000 after buying an additional 79,550 shares during the period. Finally, Williams Jones & Associates LLC bought a new position in shares of Apache Corp. during the first quarter valued at approximately $120,000. Institutional investors own 91.25% of the company’s stock.
Shares of Apache Corp. (NYSE:APA) traded down 1.19% during trading on Friday, reaching $63.33. The company’s stock had a trading volume of 3,922,773 shares. The firm’s market cap is $24.03 billion. Apache Corp. has a 12 month low of $32.20 and a 12 month high of $66.00. The company’s 50 day moving average price is $57.66 and its 200 day moving average price is $54.56.
Apache Corp. (NYSE:APA) last released its earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.31 billion. Apache Corp. had a negative net margin of 261.91% and a negative return on equity of 4.16%. The business’s revenue was down 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, equities analysts predict that Apache Corp. will post ($0.71) earnings per share for the current year.
The firm 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 1.58%. Apache Corp.’s dividend payout ratio is currently -2.78%.
APA has been the subject of several research reports. Credit Agricole SA initiated coverage on Apache Corp. in a research report on Wednesday, June 22nd. They issued an “underperform” rating for the company. Wells Fargo & Co. reissued an “outperform” rating on shares of Apache Corp. in a research report on Wednesday, July 6th. Jefferies Group reissued a “sell” rating on shares of Apache Corp. in a research report on Thursday, August 4th. Barclays PLC cut Apache Corp. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $45.00 to $49.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. cut Apache Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $53.00 in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. Apache Corp. currently has a consensus rating of “Hold” and an average price target of $57.92.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total transaction of $204,514.64. Following the completion of the sale, the insider now directly owns 12,755 shares in the company, valued at approximately $777,289.70. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.
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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