Apache Corporation (APA) Stake Maintained by Redmond Asset Management LLC
Redmond Asset Management LLC continued to hold its position in shares of Apache Corporation (NYSE:APA) during the first quarter, Holdings Channel reports. The firm owned 7,600 shares of the energy company’s stock at the end of the first quarter. Redmond Asset Management LLC’s holdings in Apache Corporation were worth $482,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Pinnacle Bank acquired a new position in shares of Apache Corporation during the first quarter worth about $100,000. Thompson Davis & CO. Inc. raised its position in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock worth $103,000 after buying an additional 506 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Apache Corporation during the first quarter worth about $135,000. Parallel Advisors LLC acquired a new position in shares of Apache Corporation during the fourth quarter worth about $139,000. Finally, Spirit of America Management Corp NY raised its position in shares of Apache Corporation by 50.0% in the first quarter. Spirit of America Management Corp NY now owns 3,000 shares of the energy company’s stock worth $154,000 after buying an additional 1,000 shares during the period. 94.06% of the stock is owned by institutional investors and hedge funds.
Shares of Apache Corporation (APA) traded down 3.77% during mid-day trading on Tuesday, reaching $47.94. 1,618,252 shares of the company’s stock traded hands. Apache Corporation has a 52 week low of $45.95 and a 52 week high of $69.00. The company’s 50 day moving average is $48.99 and its 200-day moving average is $55.09. The firm’s market cap is $18.24 billion.
Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.08. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.49 billion. Apache Corporation had a negative return on equity of 1.27% and a negative net margin of 13.34%. During the same period in the prior year, the business earned ($0.40) earnings per share. Equities analysts expect that Apache Corporation will post $0.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Friday, July 21st will be given a $0.25 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $1.00 annualized dividend and a yield of 2.01%. Apache Corporation’s dividend payout ratio is currently -46.08%.
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A number of equities research analysts have weighed in on the company. Barclays PLC restated a “sell” rating and issued a $41.00 target price (down from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. Zacks Investment Research downgraded Apache Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. BMO Capital Markets restated a “hold” rating and issued a $53.00 target price on shares of Apache Corporation in a research report on Monday, May 15th. Jefferies Group LLC restated a “sell” rating and issued a $40.00 target price on shares of Apache Corporation in a research report on Wednesday, May 17th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $63.00 target price on shares of Apache Corporation in a research report on Tuesday, April 25th. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. Apache Corporation currently has a consensus rating of “Hold” and a consensus target price of $60.58.
In other Apache Corporation news, Director Rene R. Joyce purchased 10,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $513,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.
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