BTR Capital Management Inc. Invests $1,511,000 in Apache Corp. (APA)
BTR Capital Management Inc. bought a new position in shares of Apache Corp. (NYSE:APA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,655 shares of the energy company’s stock, valued at approximately $1,511,000.
Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in Apache Corp. during the second quarter worth $117,000. Point72 Asia Hong Kong Ltd bought a new stake in Apache Corp. during the second quarter worth $117,000. Feltz Wealth PLAN Inc. bought a new stake in Apache Corp. during the second quarter worth $122,000. Zions Bancorporation raised its stake in Apache Corp. by 2.1% in the second quarter. Zions Bancorporation now owns 2,382 shares of the energy company’s stock worth $132,000 after buying an additional 50 shares in the last quarter. Finally, 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 worth $144,000 after buying an additional 1,283 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors.
Shares of Apache Corp. (NYSE:APA) traded down 0.99% on Tuesday, hitting $60.74. 4,391,339 shares of the stock were exchanged. The firm’s 50-day moving average is $60.90 and its 200-day moving average is $56.91. Apache Corp. has a one year low of $32.20 and a one year high of $66.00. The company’s market cap is $23.05 billion.
Apache Corp. (NYSE:APA) last released its quarterly earnings data on Thursday, November 3rd. The energy company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. Apache Corp. had a negative net margin of 166.56% and a negative return on equity of 4.70%. Apache Corp.’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. On average, equities analysts forecast that Apache Corp. will post ($1.00) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.65%. Apache Corp.’s dividend payout ratio (DPR) is -4.42%.
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A number of research firms have recently weighed in on APA. Zacks Investment Research lowered Apache Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group reaffirmed a “sell” rating and set 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 Apache Corp. in a research report on Monday, September 26th. They set a “neutral” rating and a $64.00 price objective on the stock. Morgan Stanley reissued a “hold” rating and issued a $69.00 target price on shares of Apache Corp. in a report on Monday, September 26th. Finally, Barclays PLC increased their target price on Apache Corp. from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.83.
In other Apache Corp. news, Director John E. Lowe acquired 2,132 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $57.65 per share, for a total transaction of $122,909.80. Following the completion of the purchase, the director now directly owns 7,500 shares in the company, valued at $432,375. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Chansoo Joung bought 15,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was purchased at an average price of $58.02 per share, with a total value of $870,300.00. Following the transaction, the director now owns 45,285 shares in the company, valued at approximately $2,627,435.70. The disclosure for this purchase can be found here. Corporate 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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