Bessemer Group Inc. lessened its position in shares of Apache Co. (NYSE:APA) by 48.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,562 shares of the energy company’s stock after selling 73,135 shares during the period. Bessemer Group Inc.’s holdings in Apache were worth $2,218,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in APA. Norges Bank bought a new position in Apache during the 4th quarter worth approximately $103,822,000. Dimensional Fund Advisors LP lifted its holdings in Apache by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock worth $144,156,000 after buying an additional 945,212 shares during the last quarter. Packer & Co Ltd bought a new position in Apache during the 2nd quarter worth approximately $18,280,000. State of Wisconsin Investment Board lifted its holdings in Apache by 430.7% during the 1st quarter. State of Wisconsin Investment Board now owns 509,135 shares of the energy company’s stock worth $17,647,000 after buying an additional 413,193 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Apache by 28.0% during the 1st quarter. New York State Common Retirement Fund now owns 1,617,156 shares of the energy company’s stock worth $56,051,000 after buying an additional 353,550 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors.
Apache stock traded down $0.14 during mid-day trading on Friday, hitting $24.04. 375,596 shares of the company’s stock traded hands, compared to its average volume of 4,872,037. The company has a 50 day moving average price of $27.35. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 1.05. The firm has a market cap of $9.02 billion, a P/E ratio of 13.50, a PEG ratio of 6.40 and a beta of 1.79. Apache Co. has a one year low of $23.16 and a one year high of $50.03.
Apache (NYSE:APA) last announced its earnings results on Wednesday, May 1st. The energy company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Apache had a positive return on equity of 6.71% and a negative net margin of 2.08%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Sell-side analysts forecast that Apache Co. will post 0.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, July 19th. Apache’s payout ratio is currently 56.50%.
A number of research analysts have commented on APA shares. Zacks Investment Research downgraded GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Seaport Global Securities reissued a “buy” rating on shares of W&T Offshore in a report on Friday, June 21st. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Finally, BMO Capital Markets reissued a “buy” rating on shares of Brookfield Asset Management in a report on Friday, April 5th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. Apache has an average rating of “Hold” and an average target price of $40.05.
In other news, Director Juliet S. Ellis purchased 3,500 shares of the stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $27.26 per share, for a total transaction of $95,410.00. Following the transaction, the director now owns 3,500 shares in the company, valued at $95,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Lowe purchased 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $30.25 per share, for a total transaction of $151,250.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $756,250. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,500 shares of company stock worth $298,500 in the last ninety days. 0.69% of the stock is owned by company insiders.
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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