Tricadia Capital Management LLC Invests $730,000 in Apache Corporation (APA)
Tricadia Capital Management LLC acquired a new position in Apache Corporation (NYSE:APA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,230 shares of the energy company’s stock, valued at approximately $730,000. Apache Corporation accounts for 0.3% of Tricadia Capital Management LLC’s investment portfolio, making the stock its 28th largest position.
Several other large investors have also modified their holdings of the company. Amalgamated Bank lifted its stake in shares of Apache Corporation by 59.8% in the 2nd quarter. Amalgamated Bank now owns 39,879 shares of the energy company’s stock worth $1,911,000 after purchasing an additional 14,918 shares during the period. Wittenberg Investment Management Inc. lifted its stake in shares of Apache Corporation by 0.7% in the 2nd quarter. Wittenberg Investment Management Inc. now owns 34,305 shares of the energy company’s stock worth $1,644,000 after purchasing an additional 230 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Apache Corporation by 1.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 881,500 shares of the energy company’s stock worth $42,250,000 after purchasing an additional 10,000 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Apache Corporation by 1.1% in the 2nd quarter. Nationwide Fund Advisors now owns 134,679 shares of the energy company’s stock worth $6,455,000 after purchasing an additional 1,510 shares during the period. Finally, Courier Capital LLC lifted its stake in shares of Apache Corporation by 4.1% in the 2nd quarter. Courier Capital LLC now owns 8,952 shares of the energy company’s stock worth $429,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.
In other Apache Corporation news, Director George D. Lawrence bought 900 shares of Apache Corporation stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $42.49 per share, with a total value of $38,241.00. Following the purchase, the director now directly owns 38,445 shares in the company, valued at approximately $1,633,528.05. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director John E. Lowe bought 2,000 shares of Apache Corporation stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $40.32 per share, with a total value of $80,640.00. Following the completion of the purchase, the director now owns 12,000 shares in the company, valued at $483,840. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 5,500 shares of company stock valued at $235,094. Corporate insiders own 0.48% of the company’s stock.
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Shares of Apache Corporation (NYSE APA) traded up 0.19% during midday trading on Friday, reaching $42.30. 1,020,199 shares of the company’s stock were exchanged. The stock’s market cap is $16.11 billion. Apache Corporation has a one year low of $38.14 and a one year high of $69.00. The company’s 50-day moving average is $42.16 and its 200-day moving average is $47.69.
Apache Corporation (NYSE:APA) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.26) earnings per share. Equities analysts expect that Apache Corporation will post $0.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s payout ratio is -4,997.50%.
APA has been the topic of several recent research reports. ValuEngine cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Scotiabank set a $50.00 price objective on shares of Apache Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. J P Morgan Chase & Co cut shares of Apache Corporation from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $46.00 to $38.00 in a research note on Thursday. Zacks Investment Research cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a research note on Friday, May 19th. Finally, Stifel Nicolaus initiated coverage on shares of Apache Corporation in a research note on Tuesday, July 4th. They issued a “hold” rating and a $54.00 price objective on the stock. Nine analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Apache Corporation currently has an average rating of “Hold” and a consensus price target of $53.16.
Apache Corporation Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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