BlackRock Inc. Cuts Holdings in Apache Co. (NYSE:APA)

BlackRock Inc. trimmed its holdings in shares of Apache Co. (NYSE:APA) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,830,152 shares of the energy company’s stock after selling 66,913 shares during the period. BlackRock Inc. owned approximately 6.87% of Apache worth $748,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Capital Group LLC purchased a new stake in Apache during the 2nd quarter valued at $37,000. CSat Investment Advisory L.P. boosted its stake in Apache by 152.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,909 shares of the energy company’s stock valued at $56,000 after purchasing an additional 1,154 shares during the last quarter. NEXT Financial Group Inc boosted its stake in Apache by 4,074.7% during the 2nd quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock valued at $91,000 after purchasing an additional 3,056 shares during the last quarter. HM Payson & Co. purchased a new stake in Apache during the 2nd quarter valued at $123,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Apache by 49.9% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,109 shares of the energy company’s stock valued at $148,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

Several analysts have commented on the company. ValuEngine upgraded Apache from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet downgraded Apache from a “c-” rating to a “d+” rating in a research note on Tuesday, September 3rd. KeyCorp began coverage on Apache in a research note on Monday, October 28th. They issued a “sector weight” rating on the stock. SunTrust Banks began coverage on Apache in a research note on Monday, September 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Argus downgraded Apache from a “buy” rating to a “hold” rating in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.67.

Shares of Apache stock opened at $24.43 on Friday. Apache Co. has a one year low of $19.44 and a one year high of $38.12. The stock’s fifty day moving average is $23.21 and its 200 day moving average is $25.70. The stock has a market cap of $9.01 billion, a P/E ratio of 13.80 and a beta of 1.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.03 and a current ratio of 1.03.

Apache (NYSE:APA) last announced its earnings results on Wednesday, October 30th. The energy company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.10). Apache had a positive return on equity of 1.08% and a negative net margin of 14.78%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $0.63 earnings per share. Analysts predict that Apache Co. will post -0.09 EPS for the current year.

The business also recently announced a — dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date is Monday, October 21st. This represents a yield of 4.1%. Apache’s dividend payout ratio is currently 56.50%.

Apache 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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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