Bridgewater Associates LP Lowers Holdings in Apache Corporation (APA)
Bridgewater Associates LP decreased its holdings in shares of Apache Corporation (NYSE:APA) by 76.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,197 shares of the energy company’s stock after selling 75,303 shares during the period. Bridgewater Associates LP’s holdings in Apache Corporation were worth $1,112,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. TIAA CREF Investment Management LLC raised its holdings in Apache Corporation by 1.1% during the second quarter. TIAA CREF Investment Management LLC now owns 1,271,525 shares of the energy company’s stock worth $60,944,000 after buying an additional 13,599 shares during the last quarter. Teachers Advisors LLC raised its holdings in Apache Corporation by 7.4% during the second quarter. Teachers Advisors LLC now owns 927,172 shares of the energy company’s stock worth $44,439,000 after buying an additional 63,951 shares during the last quarter. Stephens Inc. AR raised its holdings in Apache Corporation by 17.4% during the second quarter. Stephens Inc. AR now owns 10,675 shares of the energy company’s stock worth $512,000 after buying an additional 1,586 shares during the last quarter. Oarsman Capital Inc. raised its holdings in Apache Corporation by 409.2% during the second quarter. Oarsman Capital Inc. now owns 29,660 shares of the energy company’s stock worth $1,422,000 after buying an additional 23,835 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in Apache Corporation by 9.6% during the second quarter. Riverhead Capital Management LLC now owns 11,400 shares of the energy company’s stock worth $546,000 after buying an additional 997 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.
Apache Corporation (NYSE APA) opened at 42.52 on Friday. Apache Corporation has a 52-week low of $38.14 and a 52-week high of $69.00. The company’s market cap is $16.20 billion. The company’s 50-day moving average is $41.94 and its 200 day moving average is $47.62.
Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.22). The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. Equities analysts forecast that Apache Corporation will post $0.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. Apache Corporation’s dividend payout ratio is currently -4,997.50%.
In related news, Director John E. Lowe acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the purchase, the director now owns 12,000 shares in the company, valued at approximately $483,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Lowe acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average price of $44.90 per share, with a total value of $112,250.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 5,500 shares of company stock valued at $235,094. Corporate insiders own 0.48% of the company’s stock.
Several research analysts have weighed in on the stock. J P Morgan Chase & Co downgraded 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 report on Thursday. Jefferies Group LLC set a $35.00 price objective on shares of Apache Corporation and gave the stock a “sell” rating in a report on Tuesday, August 29th. Royal Bank Of Canada set a $55.00 price objective on shares of Apache Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. BidaskClub downgraded shares of Apache Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Finally, Citigroup Inc. lowered their price objective on shares of Apache Corporation from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, August 15th. Nine equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $53.16.
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About Apache Corporation
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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