Meyer Handelman Co. held its position in Apache Corporation (NYSE:APA) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,088 shares of the energy company’s stock at the end of the second quarter. Meyer Handelman Co.’s holdings in Apache Corporation were worth $244,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APA. BlackRock Inc. increased its position in Apache Corporation by 3,551.6% in the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock valued at $1,490,509,000 after buying an additional 28,209,565 shares during the period. JPMorgan Chase & Co. increased its position in Apache Corporation by 155.6% in the first quarter. JPMorgan Chase & Co. now owns 4,967,031 shares of the energy company’s stock valued at $255,258,000 after buying an additional 3,023,533 shares during the period. Harris Associates L P increased its position in Apache Corporation by 16.4% in the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock valued at $842,663,000 after buying an additional 2,307,915 shares during the period. Ameriprise Financial Inc. increased its position in Apache Corporation by 156.5% in the first quarter. Ameriprise Financial Inc. now owns 1,578,266 shares of the energy company’s stock valued at $81,064,000 after buying an additional 962,883 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Apache Corporation during the first quarter valued at $48,518,000. 94.04% of the stock is currently owned by institutional investors and hedge funds.
Apache Corporation (APA) opened at 43.58 on Thursday. The company’s 50-day moving average is $47.32 and its 200-day moving average is $50.76. Apache Corporation has a 12 month low of $43.24 and a 12 month high of $69.00. The company’s market cap is $16.58 billion.
Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.22. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business earned ($0.26) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that Apache Corporation will post $0.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, July 19th. Apache Corporation’s dividend payout ratio is -4,997.50%.
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Several analysts recently commented on APA shares. BidaskClub upgraded shares of Apache Corporation from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Wells Fargo & Company restated a “market perform” rating and set a $48.00 price target (down from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. ValuEngine cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Barclays PLC restated a “sell” rating and set a $41.00 price target (down from $50.00) on shares of Apache Corporation in a report on Thursday, April 20th. Finally, Zacks Investment Research upgraded shares of Apache Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.39.
In other news, Director Rene R. Joyce bought 10,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $51.38 per share, with a total value of $513,800.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $513,800. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John E. Lowe bought 2,500 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of $44.90 per share, with a total value of $112,250.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.
Apache Corporation Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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