Virginia Retirement Systems ET AL lessened its holdings in Apache Co. (NYSE:APA) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,300 shares of the energy company’s stock after selling 29,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Apache were worth $8,071,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zions Bancorporation acquired a new stake in shares of Apache during the 3rd quarter valued at $103,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Apache by 575.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock valued at $104,000 after acquiring an additional 1,892 shares in the last quarter. Field & Main Bank acquired a new stake in shares of Apache during the 3rd quarter valued at $120,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Apache during the 3rd quarter valued at $205,000. Finally, Wesbanco Bank Inc. acquired a new stake in shares of Apache during the 2nd quarter valued at $207,000. 96.62% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Stephen J. Riney bought 6,300 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was acquired at an average cost of $43.51 per share, with a total value of $274,113.00. Following the transaction, the insider now directly owns 42,184 shares in the company, valued at $1,835,425.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dominic Ricotta sold 3,480 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $43.72, for a total value of $152,145.60. Following the transaction, the vice president now directly owns 10,357 shares of the company’s stock, valued at $452,808.04. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.
Shares of NYSE:APA opened at $37.08 on Friday. The firm has a market cap of $14.35 billion, a P/E ratio of 154.50, a P/E/G ratio of 2.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.26 and a quick ratio of 1.10. Apache Co. has a 12-month low of $33.60 and a 12-month high of $50.03.
Apache (NYSE:APA) last announced its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.16. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.89 billion. Apache had a return on equity of 7.71% and a net margin of 12.11%. Apache’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. Analysts expect that Apache Co. will post 1.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio is currently 416.67%.
Several research firms recently weighed in on APA. Stephens set a $55.00 price objective on Apache and gave the company a “buy” rating in a report on Monday, September 24th. Piper Jaffray Companies downgraded Apache from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Scotiabank reissued a “hold” rating and set a $55.00 price objective on shares of Apache in a report on Thursday, September 27th. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Thursday, September 27th. Finally, Mitsubishi UFJ Financial Group raised their price objective on Apache to $66.00 and gave the company an “overweight” rating in a report on Tuesday, August 7th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $47.37.
Apache Company Profile
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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