Apache Co. (NYSE:APA) Stake Lessened by Raymond James & Associates

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Raymond James & Associates lessened its stake in Apache Co. (NYSE:APA) by 15.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,135 shares of the energy company’s stock after selling 10,717 shares during the quarter. Raymond James & Associates’ holdings in Apache were worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC purchased a new position in Apache in the 4th quarter worth approximately $29,000. Truehand Inc purchased a new position in Apache in the 4th quarter worth approximately $38,000. Oregon Public Employees Retirement Fund lifted its holdings in Apache by 2,492.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,958 shares of the energy company’s stock worth $41,000 after purchasing an additional 1,045,998 shares in the last quarter. Rational Advisors LLC lifted its holdings in Apache by 12,875.0% in the 4th quarter. Rational Advisors LLC now owns 1,557 shares of the energy company’s stock worth $41,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Pinnacle Bank purchased a new position in Apache in the 4th quarter worth approximately $47,000. Institutional investors own 96.50% of the company’s stock.

In other news, EVP William Mark Meyer purchased 2,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average price of $25.92 per share, with a total value of $51,840.00. Following the transaction, the executive vice president now owns 2,919 shares of the company’s stock, valued at $75,660.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Juliet S. Ellis purchased 3,500 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $27.26 per share, for a total transaction of $95,410.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $95,410. The disclosure for this purchase can be found here. Insiders have bought a total of 10,500 shares of company stock worth $298,500 in the last three months. Corporate insiders own 0.69% of the company’s stock.

APA opened at $28.01 on Thursday. Apache Co. has a 12-month low of $24.56 and a 12-month high of $50.03. 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 $10.85 billion, a PE ratio of 15.82, a PEG ratio of 4.65 and a beta of 1.79.

Apache (NYSE:APA) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Apache had a positive return on equity of 6.71% and a negative net margin of 2.08%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that Apache Co. will post 1.03 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Friday, July 19th. Apache’s payout ratio is 56.50%.

APA has been the topic of a number of research analyst reports. Credit Suisse Group boosted their price target on Apache from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. Citigroup upped their price objective on Apache from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. BMO Capital Markets upped their price objective on Apache from $30.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, April 9th. Finally, Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. Apache currently has a consensus rating of “Hold” and an average target price of $40.86.

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About Apache

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.

Further Reading: Equal Weight Rating

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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