Riverhead Capital Management LLC reduced its stake in Apache Co. (NYSE:APA) by 43.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,766 shares of the energy company’s stock after selling 11,893 shares during the period. Riverhead Capital Management LLC’s holdings in Apache were worth $737,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its stake in Apache by 25.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 74,265 shares of the energy company’s stock valued at $3,472,000 after purchasing an additional 15,100 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Apache by 0.9% in the second quarter. Great West Life Assurance Co. Can now owns 286,437 shares of the energy company’s stock valued at $13,392,000 after purchasing an additional 2,431 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Apache by 5.8% in the second quarter. PNC Financial Services Group Inc. now owns 127,975 shares of the energy company’s stock valued at $5,982,000 after purchasing an additional 7,058 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Apache by 71.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock valued at $170,375,000 after purchasing an additional 1,512,960 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in Apache in the second quarter valued at $214,000. 96.71% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Stephen J. Riney purchased 6,300 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were acquired at an average cost of $43.51 per share, for a total transaction of $274,113.00. Following the completion of the acquisition, the insider now owns 42,184 shares in the company, valued at $1,835,425.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John J. Christmann purchased 3,900 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were purchased at an average price of $43.63 per share, for a total transaction of $170,157.00. Following the completion of the acquisition, the chief executive officer now owns 150,696 shares of the company’s stock, valued at approximately $6,574,866.48. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by insiders.
APA has been the subject of several research analyst reports. Zacks Investment Research raised shares of Apache from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Thursday, July 12th. Stifel Nicolaus lifted their price target on shares of Apache from $46.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 9th. Mitsubishi UFJ Financial Group lifted their price target on shares of Apache to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. Argus upgraded shares of Apache from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.19 to $56.00 in a report on Monday, June 11th. Finally, Mizuho began coverage on shares of Apache in a report on Monday, July 23rd. They set a “neutral” rating and a $55.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.11.
Shares of NYSE APA opened at $42.66 on Friday. The stock has a market cap of $16.80 billion, a PE ratio of 177.75, a price-to-earnings-growth ratio of 3.93 and a beta of 1.19. Apache Co. has a 1 year low of $33.60 and a 1 year high of $49.59. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.88.
Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, August 1st. The energy company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Apache had a net margin of 12.57% and a return on equity of 5.21%. research analysts anticipate that Apache Co. will post 1.6 EPS for the current fiscal year.
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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