Ancora Inverness LLC Lowers Stake in Apache Corp. (APA)
Ancora Inverness LLC reduced its position in shares of Apache Corp. (NYSE:APA) by 14.9% during the third quarter, Holdings Channel reports. The firm owned 29,641 shares of the energy company’s stock after selling 5,188 shares during the period. Ancora Inverness LLC’s holdings in Apache Corp. were worth $1,893,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of APA. Vanguard Group Inc. raised its stake in shares of Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock valued at $1,369,769,000 after buying an additional 1,199,481 shares during the last quarter. Davis Selected Advisers raised its stake in shares of Apache Corp. by 2.5% in the second quarter. Davis Selected Advisers now owns 17,611,450 shares of the energy company’s stock valued at $980,429,000 after buying an additional 437,255 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Apache Corp. by 7.8% in the second quarter. Capital Research Global Investors now owns 15,403,071 shares of the energy company’s stock valued at $857,489,000 after buying an additional 1,108,971 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Apache Corp. by 4.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,276,675 shares of the energy company’s stock valued at $627,772,000 after buying an additional 446,121 shares during the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of Apache Corp. by 5.8% in the second quarter. Baillie Gifford & Co. now owns 8,502,324 shares of the energy company’s stock valued at $473,325,000 after buying an additional 466,847 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Apache Corp. (NYSE:APA) traded down 0.99% during midday trading on Tuesday, hitting $60.74. The company had a trading volume of 4,391,339 shares. Apache Corp. has a one year low of $32.20 and a one year high of $66.00. The company’s 50 day moving average is $60.90 and its 200-day moving average is $56.91. The company’s market cap is $23.05 billion.
Apache Corp. (NYSE:APA) last posted its quarterly earnings results on Thursday, November 3rd. The energy company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.13. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. The company earned $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business earned ($0.05) EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities analysts predict that Apache Corp. will post ($1.00) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is presently -4.42%.
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Several research firms recently commented on APA. Zacks Investment Research lowered shares of Apache Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group reiterated a “sell” rating and issued a $48.00 price objective on shares of Apache Corp. in a research report on Wednesday, October 19th. Mitsubishi UFJ Financial Group began coverage on shares of Apache Corp. in a research report on Monday, September 26th. They issued a “neutral” rating and a $64.00 price objective on the stock. Morgan Stanley reiterated a “hold” rating and issued a $69.00 price objective on shares of Apache Corp. in a research report on Monday, September 26th. Finally, Barclays PLC boosted their price objective on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 13th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.83.
In related news, Director Chansoo Joung acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were acquired at an average cost of $58.02 per share, with a total value of $870,300.00. Following the purchase, the director now owns 45,285 shares of the company’s stock, valued at $2,627,435.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rebecca A. Hoyt sold 3,356 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the completion of the transaction, the insider now directly owns 12,755 shares in the company, valued at $777,289.70. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
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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