Apache Co. (APA) Position Lifted by Jolley Asset Management LLC
Jolley Asset Management LLC boosted its holdings in Apache Co. (NYSE:APA) by 80.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,950 shares of the energy company’s stock after acquiring an additional 7,100 shares during the quarter. Jolley Asset Management LLC’s holdings in Apache were worth $673,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in APA. Hotchkis & Wiley Capital Management LLC boosted its stake in Apache by 37.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,243,914 shares of the energy company’s stock valued at $469,171,000 after buying an additional 2,816,600 shares in the last quarter. Harris Associates L P boosted its stake in Apache by 14.3% in the second quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock valued at $898,275,000 after buying an additional 2,343,985 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Apache in the third quarter valued at about $93,596,000. Orbis Allan Gray Ltd boosted its stake in Apache by 11.5% in the second quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock valued at $641,384,000 after buying an additional 1,381,096 shares in the last quarter. Finally, Dodge & Cox boosted its stake in Apache by 4.0% in the second quarter. Dodge & Cox now owns 29,922,731 shares of the energy company’s stock valued at $1,434,196,000 after buying an additional 1,152,395 shares in the last quarter. 94.57% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on APA shares. Morgan Stanley raised their price objective on Apache from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Scotiabank set a $49.00 price objective on Apache and gave the company a “hold” rating in a research note on Monday, November 13th. Bank of America raised their price objective on Apache from $41.00 to $42.00 and gave the company an “underperform” rating in a research note on Monday, November 6th. BMO Capital Markets set a $45.00 price objective on Apache and gave the company a “hold” rating in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada set a $51.00 price target on Apache and gave the company a “hold” rating in a research note on Wednesday, December 20th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $45.94.
Apache (NYSE:APA) last posted its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.09. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. Apache 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share. analysts predict that Apache Co. will post 0.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, January 19th. Apache’s dividend payout ratio is currently 57.80%.
In other Apache news, Director John E. Lowe bought 3,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was acquired at an average cost of $40.02 per share, for a total transaction of $120,060.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at approximately $600,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider P Anthony Lannie sold 19,514 shares of Apache stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $44.04, for a total value of $859,396.56. Following the completion of the sale, the insider now owns 37,469 shares of the company’s stock, valued at $1,650,134.76. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
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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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