Apache Corporation (APA) Shares Bought by Bessemer Group Inc.
Bessemer Group Inc. raised its holdings in Apache Corporation (NYSE:APA) by 55.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,105 shares of the company’s stock after acquiring an additional 49,770 shares during the quarter. Bessemer Group Inc.’s holdings in Apache Corporation were worth $6,371,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Utah Retirement Systems raised its holdings in Apache Corporation by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 69,785 shares of the company’s stock worth $3,345,000 after buying an additional 400 shares during the period. ARGA Investment Management LP raised its holdings in Apache Corporation by 27.8% during the 2nd quarter. ARGA Investment Management LP now owns 88,829 shares of the company’s stock worth $4,258,000 after buying an additional 19,300 shares during the period. Hosking Partners LLP raised its holdings in Apache Corporation by 97.4% during the 2nd quarter. Hosking Partners LLP now owns 90,472 shares of the company’s stock worth $4,336,000 after buying an additional 44,629 shares during the period. Mitchell Group Inc. raised its holdings in Apache Corporation by 2.1% during the 2nd quarter. Mitchell Group Inc. now owns 593,457 shares of the company’s stock worth $28,444,000 after buying an additional 12,438 shares during the period. Finally, Westpac Banking Corp raised its holdings in Apache Corporation by 4.6% during the 2nd quarter. Westpac Banking Corp now owns 158,502 shares of the company’s stock worth $7,597,000 after buying an additional 6,900 shares during the period. 95.36% of the stock is owned by institutional investors.
In related news, Director John E. Lowe bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of C$40.32 per share, with a total value of C$80,640.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at C$483,840. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.
Shares of Apache Corporation (NYSE APA) opened at C$44.13 on Friday. Apache Corporation has a 12 month low of C$38.14 and a 12 month high of C$69.00. The company has a current ratio of 1.53, a quick ratio of 1.47 and a debt-to-equity ratio of 0.95.
Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, November 2nd. The company reported C$0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.05) by C$0.09. The business had revenue of C$1.39 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. Apache Corporation had a negative return on equity of 0.70% and a net margin of 10.60%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. equities research analysts anticipate that Apache Corporation will post -0.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. Apache Corporation’s payout ratio is currently 57.47%.
Several analysts have issued reports on APA shares. Wolfe Research downgraded Apache Corporation from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Cowen and Company set a $50.00 price objective on Apache Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th. Royal Bank Of Canada restated a “hold” rating and set a $55.00 price objective on shares of Apache Corporation in a report on Thursday, July 20th. Citigroup Inc. cut their price objective on Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Finally, Wells Fargo & Company restated a “market perform” rating and set a $48.00 price objective (down previously from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Apache Corporation presently has a consensus rating of “Hold” and a consensus price target of C$47.82.
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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