Bank of Montreal Can Has $8.54 Million Holdings in Apache Co. (APA)
Bank of Montreal Can raised its holdings in Apache Co. (NYSE:APA) by 97.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,143 shares of the energy company’s stock after buying an additional 88,445 shares during the period. Bank of Montreal Can’s holdings in Apache were worth $8,540,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. DNB Asset Management AS raised its stake in Apache by 7.0% in the third quarter. DNB Asset Management AS now owns 51,716 shares of the energy company’s stock valued at $2,465,000 after buying an additional 3,400 shares in the last quarter. Ipswich Investment Management Co. Inc. raised its stake in Apache by 398.9% in the third quarter. Ipswich Investment Management Co. Inc. now owns 59,025 shares of the energy company’s stock valued at $2,814,000 after buying an additional 47,195 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in Apache by 29.0% in the third quarter. Douglas Lane & Associates LLC now owns 174,116 shares of the energy company’s stock valued at $8,300,000 after buying an additional 39,116 shares in the last quarter. Covenant Multifamily Offices LLC raised its stake in Apache by 24.4% in the third quarter. Covenant Multifamily Offices LLC now owns 46,755 shares of the energy company’s stock valued at $2,229,000 after buying an additional 9,185 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Apache in the third quarter valued at $383,000. Institutional investors own 96.80% of the company’s stock.
NYSE APA opened at $37.39 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.36. Apache Co. has a 52-week low of $33.60 and a 52-week high of $50.03. The stock has a market cap of $14.30 billion, a P/E ratio of 155.79, a P/E/G ratio of 2.83 and a beta of 1.19.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, October 19th. Apache’s dividend payout ratio is currently 416.67%.
In related news, insider Stephen J. Riney purchased 6,300 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were purchased at an average price of $43.51 per share, with a total value of $274,113.00. Following the completion of the acquisition, the insider now directly owns 42,184 shares in the company, valued at approximately $1,835,425.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rebecca A. Hoyt sold 6,111 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $47.48, for a total value of $290,150.28. Following the transaction, the insider now directly owns 30,548 shares in the company, valued at approximately $1,450,419.04. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.
APA has been the topic of several research reports. Piper Jaffray Companies lowered Apache from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Mizuho initiated coverage on Apache in a report on Monday, July 23rd. They set a “neutral” rating and a $55.00 price objective on the stock. ValuEngine raised Apache from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. TheStreet raised Apache from a “c” rating to a “b-” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $49.00 price objective on shares of Apache in a report on Thursday, August 30th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.17.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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