Advisor Consultant Network Inc. Invests $2,129,000 in Apache Corp. (APA)
Advisor Consultant Network Inc. bought a new position in Apache Corp. (NYSE:APA) during the third quarter, according to its most recent 13F filing with the SEC. The firm bought 33,338 shares of the energy company’s stock, valued at approximately $2,129,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APA. FIL Ltd purchased a new position in Apache Corp. during the second quarter worth $227,262,000. Vanguard Group Inc. raised its position in Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock worth $1,369,769,000 after buying an additional 1,199,481 shares in the last quarter. Capital Research Global Investors raised its position in 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 worth $857,489,000 after buying an additional 1,108,971 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Apache Corp. during the second quarter worth $50,168,000. Finally, Schroder Investment Management Group raised its position in Apache Corp. by 772.2% in the second quarter. Schroder Investment Management Group now owns 551,576 shares of the energy company’s stock worth $30,706,000 after buying an additional 488,338 shares in the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Apache Corp. (NYSE:APA) traded up 8.58% during midday trading on Wednesday, reaching $65.95. 6,955,994 shares of the company’s stock traded hands. Apache Corp. has a 52-week low of $32.20 and a 52-week high of $66.83. The stock’s market cap is $25.02 billion. The stock has a 50-day moving average price of $60.99 and a 200-day moving average price of $57.00.
Apache Corp. (NYSE:APA) last released its earnings results on Thursday, November 3rd. The energy company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.13. Apache Corp. had a negative net margin of 166.56% and a negative return on equity of 4.70%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned ($0.05) EPS. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts forecast that Apache Corp. will post ($1.00) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is presently -4.42%.
APA has been the topic of several research reports. Atlantic Securities upgraded shares of Apache Corp. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $70.00 in a report on Monday, September 12th. Raymond James Financial Inc. boosted their price objective on shares of Apache Corp. from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, September 8th. Citigroup Inc. downgraded shares of Apache Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $53.00 in a report on Tuesday, August 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Thursday, November 17th. Finally, Deutsche Bank AG boosted their price objective on shares of Apache Corp. from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, September 8th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $58.83.
In related news, Director Chansoo Joung purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were bought at an average cost of $58.02 per share, with a total value of $870,300.00. Following the acquisition, the director now owns 45,285 shares of the company’s stock, valued at approximately $2,627,435.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James L. House sold 8,000 shares of Apache Corp. stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $63.38, for a total transaction of $507,040.00. Following the sale, the insider now directly owns 2,057 shares in the company, valued at $130,372.66. The disclosure for this sale can be found here. 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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