Apache Corporation (APA) Shares Sold by Commerce Bank
Commerce Bank cut its stake in Apache Corporation (NYSE:APA) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,302 shares of the energy company’s stock after selling 2,507 shares during the period. Commerce Bank’s holdings in Apache Corporation were worth $1,984,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of APA. LS Investment Advisors LLC lifted its holdings in Apache Corporation by 5.3% in the second quarter. LS Investment Advisors LLC now owns 9,759 shares of the energy company’s stock worth $468,000 after buying an additional 495 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Apache Corporation by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the energy company’s stock worth $1,131,000 after buying an additional 300 shares during the period. Aperio Group LLC lifted its holdings in Apache Corporation by 14.7% in the second quarter. Aperio Group LLC now owns 145,667 shares of the energy company’s stock worth $6,982,000 after buying an additional 18,627 shares during the period. BTIM Corp. lifted its holdings in Apache Corporation by 4.9% in the second quarter. BTIM Corp. now owns 254,324 shares of the energy company’s stock worth $12,190,000 after buying an additional 11,939 shares during the period. Finally, Oakbrook Investments LLC purchased a new stake in Apache Corporation in the second quarter worth about $232,000. Institutional investors and hedge funds own 94.98% of the company’s stock.
Several analysts have commented on APA shares. Morgan Stanley raised their price objective on shares of Apache Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Scotiabank set a $49.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a report on Monday, November 13th. Bank of America Corporation lifted their target price on shares of Apache Corporation from $41.00 to $42.00 and gave the company an “underperform” rating in a report on Monday, November 6th. BMO Capital Markets set a $45.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co lowered shares of Apache Corporation from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $46.00 to $38.00 in a report on Thursday, September 14th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $47.82.
Apache Corporation (NYSE:APA) traded up $0.69 during trading hours on Friday, reaching $41.18. 2,110,950 shares of the company’s stock were exchanged, compared to its average volume of 3,466,179. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. Apache Corporation has a fifty-two week low of $38.14 and a fifty-two week high of $69.00.
Apache Corporation (NYSE:APA) last posted its earnings results on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm’s revenue was down 3.5% on a year-over-year basis. sell-side analysts forecast that Apache Corporation will post -0.01 earnings per share for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is presently 57.47%.
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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