Flossbach Von Storch AG Purchases Shares of 4,553 Apache Corporation (APA)
Flossbach Von Storch AG purchased a new position in shares of Apache Corporation (NYSE:APA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,553 shares of the energy company’s stock, valued at approximately $209,000.
Other institutional investors have also recently made changes to their positions in the company. Utah Retirement Systems raised its position in shares of Apache Corporation by 0.6% during the second quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock worth $3,345,000 after purchasing an additional 400 shares during the period. ARGA Investment Management LP increased its position in shares of Apache Corporation by 27.8% in the second quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after acquiring an additional 19,300 shares during the last quarter. Hosking Partners LLP increased its position in shares of Apache Corporation by 97.4% in the second quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock valued at $4,336,000 after acquiring an additional 44,629 shares during the last quarter. Mitchell Group Inc. increased its position in shares of Apache Corporation by 2.1% in the second quarter. Mitchell Group Inc. now owns 593,457 shares of the energy company’s stock valued at $28,444,000 after acquiring an additional 12,438 shares during the last quarter. Finally, Westpac Banking Corp increased its position in Apache Corporation by 4.6% during the second quarter. Westpac Banking Corp now owns 158,502 shares of the energy company’s stock worth $7,597,000 after buying an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.
A number of brokerages have weighed in on APA. Scotiabank reissued a “hold” rating and set a $49.00 price target on shares of Apache Corporation in a research report on Tuesday, October 10th. Sanford C. Bernstein reissued an “outperform” rating on shares of Apache Corporation in a research report on Thursday, September 21st. Barclays PLC boosted their price target on Apache Corporation from $26.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday. Citigroup Inc. lowered their price target on Apache Corporation from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 15th. Finally, Royal Bank Of Canada set a $55.00 price target on Apache Corporation and gave the stock a “hold” rating in a research report on Thursday, August 24th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.06.
Shares of Apache Corporation (NYSE:APA) opened at $41.54 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00.
Apache Corporation (NYSE:APA) last issued its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Apache Corporation had a negative return on equity of 0.70% and a net margin of 10.60%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. equities research analysts predict that Apache Corporation will post 0.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd were given a dividend of $0.25 per share. The ex-dividend date was Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.41%. Apache Corporation’s dividend payout ratio is currently 57.47%.
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. 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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