Apache Corp. (NYSE:APA)’s share price gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $62.94, but opened at $61.35. Apache Corp. shares last traded at $60.74, with a volume of 4,391,339 shares trading hands.

Specifically, Director John E. Lowe purchased 2,132 shares of Apache Corp. stock in a transaction dated Monday, November 7th. The stock was acquired at an average cost of $57.65 per share, with a total value of $122,909.80. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $432,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca A. Hoyt sold 3,356 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $777,289.70. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

A number of research firms have recently issued reports 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 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 shares of 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 reaffirmed a “hold” rating and set a $69.00 price objective on shares of Apache Corp. in a research report on Monday, September 26th. Finally, Barclays PLC raised their price objective on shares of Apache Corp. from $50.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 13th. Three 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’s stock. The company presently has an average rating of “Hold” and an average target price of $58.83.

The firm’s market capitalization is $25.02 billion. The stock’s 50-day moving average price is $60.99 and its 200-day moving average price is $57.00.

Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, November 3rd. The energy company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.13. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. Apache Corp.’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. Equities analysts predict that Apache Corp. will post ($1.00) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st were paid a $0.25 dividend. The ex-dividend date was Wednesday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. Apache Corp.’s payout ratio is presently -4.42%.

Several hedge funds have recently modified their holdings of the stock. Panagora Asset Management Inc. raised its stake in shares of Apache Corp. by 328.7% in the first quarter. Panagora Asset Management Inc. now owns 141,033 shares of the energy company’s stock valued at $6,884,000 after buying an additional 108,139 shares during the last quarter. Babson Capital Management LLC raised its stake in shares of Apache Corp. by 218.2% in the first quarter. Babson Capital Management LLC now owns 31,647 shares of the energy company’s stock valued at $1,545,000 after buying an additional 21,700 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Apache Corp. by 26.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,008 shares of the energy company’s stock valued at $487,000 after buying an additional 2,066 shares during the last quarter. Cullinan Associates Inc. raised its stake in shares of Apache Corp. by 1.7% in the second quarter. Cullinan Associates Inc. now owns 42,500 shares of the energy company’s stock valued at $2,366,000 after buying an additional 700 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its stake in shares of Apache Corp. by 3.8% in the second quarter. Patten & Patten Inc. TN now owns 6,895 shares of the energy company’s stock valued at $384,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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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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