Webster Bank N. A. Raises Stake in Apache Corp. (APA)
Webster Bank N. A. boosted its position in Apache Corp. (NYSE:APA) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 22,637 shares of the energy company’s stock after buying an additional 1,074 shares during the period. Webster Bank N. A.’s holdings in Apache Corp. were worth $1,445,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of APA. Mizuho Trust & Banking Co. Ltd. increased its position in Apache Corp. by 0.9% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 649,119 shares of the energy company’s stock worth $36,136,000 after buying an additional 5,670 shares during the period. Retirement Systems of Alabama increased its position in Apache Corp. by 40.9% in the second quarter. Retirement Systems of Alabama now owns 273,838 shares of the energy company’s stock worth $15,245,000 after buying an additional 79,550 shares during the period. BB&T Securities LLC increased its position in Apache Corp. by 4.0% in the second quarter. BB&T Securities LLC now owns 22,584 shares of the energy company’s stock worth $1,256,000 after buying an additional 860 shares during the period. Ardevora Asset Management LLP bought a new position in Apache Corp. during the second quarter worth approximately $18,076,000. Finally, Encompass Capital Advisors LLC bought a new position in Apache Corp. during the second quarter worth approximately $16,701,000. 91.83% of the stock is owned by institutional investors.
Shares of Apache Corp. (NYSE:APA) traded up 8.58% during trading on Wednesday, hitting $65.95. The stock had a trading volume of 6,955,994 shares. The stock’s market capitalization is $25.02 billion. The firm has a 50 day moving average price of $60.99 and a 200-day moving average price of $57.00. Apache Corp. has a 52 week low of $32.20 and a 52 week high of $66.83.
Apache Corp. (NYSE:APA) last announced its quarterly earnings data on Thursday, November 3rd. The energy company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. On average, equities research analysts forecast that Apache Corp. will post ($1.00) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.52%. Apache Corp.’s payout ratio is -4.42%.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded Apache Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Group reissued a “sell” rating and set a $48.00 target price on shares of Apache Corp. in a research note on Wednesday, October 19th. Mitsubishi UFJ Financial Group assumed coverage on Apache Corp. in a research note on Monday, September 26th. They set a “neutral” rating and a $64.00 target price for the company. Morgan Stanley reissued a “hold” rating and set a $69.00 target price on shares of Apache Corp. in a research note on Monday, September 26th. Finally, Barclays PLC boosted their target price on Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.83.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the firm’s 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 transaction, the insider now directly owns 12,755 shares in the company, valued at approximately $777,289.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James L. House sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $63.38, for a total value of $507,040.00. Following the transaction, the insider now 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.
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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