Cadence Capital Management LLC trimmed its holdings in shares of Apache Co. (NYSE:APA) by 18.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,499 shares of the energy company’s stock after selling 8,721 shares during the period. Cadence Capital Management LLC’s holdings in Apache were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in Apache by 24.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 126,130 shares of the energy company’s stock worth $5,897,000 after acquiring an additional 24,836 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Apache in the 2nd quarter valued at about $366,000. Investec Asset Management LTD bought a new stake in shares of Apache in the 2nd quarter valued at about $9,009,000. Argent Trust Co boosted its holdings in shares of Apache by 365.5% in the 2nd quarter. Argent Trust Co now owns 33,934 shares of the energy company’s stock valued at $1,586,000 after buying an additional 26,644 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its holdings in shares of Apache by 29.0% in the 3rd 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. Institutional investors own 96.62% of the company’s stock.
A number of analysts have recently weighed in on APA shares. TheStreet upgraded shares of Apache from a “c” rating to a “b-” rating in a report on Wednesday, August 1st. KLR Group restated a “buy” rating and issued a $54.00 price target on shares of Apache in a report on Monday, August 20th. Stephens set a $55.00 price target on shares of Apache and gave the company a “buy” rating in a report on Monday, September 24th. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, September 27th. Finally, Raymond James restated a “buy” rating and issued a $65.00 price target on shares of Apache in a report on Thursday, November 1st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $47.37.
Shares of Apache stock opened at $37.08 on Friday. The company has a market capitalization 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 quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90. Apache Co. has a 52 week low of $33.60 and a 52 week high of $50.03.
Apache (NYSE:APA) last announced its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.89 billion. Apache had a net margin of 12.11% and a return on equity of 7.71%. Apache’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. Analysts expect that Apache Co. will post 1.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, October 19th. Apache’s payout ratio is currently 416.67%.
In related news, insider Stephen J. Riney acquired 6,300 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was purchased 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 of the company’s stock, valued at approximately $1,835,425.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John J. Christmann acquired 3,900 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was bought at an average cost of $43.63 per share, with a total value of $170,157.00. Following the completion of the transaction, the chief executive officer now directly owns 150,696 shares in the company, valued at $6,574,866.48. The disclosure for this purchase can be found here. Company insiders own 0.59% of the company’s stock.
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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