Principal Financial Group Inc. boosted its stake in Apache Corporation (NYSE:APA) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 553,405 shares of the energy company’s stock after buying an additional 9,006 shares during the period. Principal Financial Group Inc.’s holdings in Apache Corporation were worth $28,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in APA. First Manhattan Co. raised its position in Apache Corporation by 0.5% in the first quarter. First Manhattan Co. now owns 11,848 shares of the energy company’s stock valued at $756,000 after buying an additional 55 shares in the last quarter. Albert D Mason Inc. raised its position in Apache Corporation by 0.6% in the first quarter. Albert D Mason Inc. now owns 8,735 shares of the energy company’s stock valued at $449,000 after buying an additional 55 shares in the last quarter. Dowling & Yahnke LLC raised its position in Apache Corporation by 0.9% in the first quarter. Dowling & Yahnke LLC now owns 8,503 shares of the energy company’s stock valued at $437,000 after buying an additional 75 shares in the last quarter. Regentatlantic Capital LLC raised its position in Apache Corporation by 0.4% in the first quarter. Regentatlantic Capital LLC now owns 22,523 shares of the energy company’s stock valued at $1,157,000 after buying an additional 83 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its position in Apache Corporation by 1.7% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,993 shares of the energy company’s stock valued at $308,000 after buying an additional 100 shares in the last quarter. 94.06% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Apache Corporation (NYSE:APA)

Shares of Apache Corporation (APA) traded down 3.67% on Tuesday, hitting $47.99. 1,463,778 shares of the company’s stock were exchanged. The stock’s market cap is $18.26 billion. The company’s 50-day moving average price is $48.99 and its 200 day moving average price is $55.09. Apache Corporation has a 12-month low of $45.95 and a 12-month high of $69.00.

Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, May 4th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.08. Apache Corporation had a negative return on equity of 1.27% and a negative net margin of 13.34%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the business posted ($0.40) earnings per share. On average, equities analysts predict that Apache Corporation will post $0.91 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, July 19th. Apache Corporation’s payout ratio is currently -46.08%.

TRADEMARK VIOLATION NOTICE: This story was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/06/20/apache-corporation-apa-shares-bought-by-principal-financial-group-inc.html.

Several equities analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $63.00 price target on shares of Apache Corporation in a report on Tuesday, April 25th. Scotiabank set a $66.00 price target on shares of Apache Corporation and gave the stock a “hold” rating in a report on Saturday, February 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price target on shares of Apache Corporation in a report on Friday, May 5th. Zacks Investment Research lowered shares of Apache Corporation from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Finally, ValuEngine lowered shares of Apache Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $60.58.

In other Apache Corporation news, Director Rene R. Joyce acquired 10,000 shares of the stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $51.38 per share, with a total value of $513,800.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $513,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Apache Corporation Company Profile

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apache Corporation (NYSE:APA).

Receive News & Ratings for Apache Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache Corporation and related companies with MarketBeat.com's FREE daily email newsletter.