First Merchants Corp boosted its position in shares of Apache Corporation (NYSE:APA) by 27.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,319 shares of the energy company’s stock after buying an additional 5,514 shares during the period. First Merchants Corp’s holdings in Apache Corporation were worth $1,213,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in shares of Apache Corporation by 13.5% in the fourth quarter. Macquarie Group Ltd. now owns 11,800 shares of the energy company’s stock worth $749,000 after buying an additional 1,400 shares during the period. Park National Corp OH raised its position in Apache Corporation by 20.7% in the first quarter. Park National Corp OH now owns 5,249 shares of the energy company’s stock worth $269,000 after buying an additional 900 shares in the last quarter. Renaissance Investment Group LLC raised its position in Apache Corporation by 0.6% in the first quarter. Renaissance Investment Group LLC now owns 24,154 shares of the energy company’s stock worth $1,242,000 after buying an additional 140 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Apache Corporation by 7.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 459,960 shares of the energy company’s stock worth $23,637,000 after buying an additional 32,289 shares in the last quarter. Finally, Fulton Bank N.A. bought a new position in Apache Corporation during the first quarter worth about $527,000. Institutional investors and hedge funds own 93.72% of the company’s stock.
Apache Corporation (NYSE:APA) opened at 40.31 on Friday. The company’s 50-day moving average price is $46.31 and its 200 day moving average price is $49.83. The firm’s market capitalization is $15.36 billion. Apache Corporation has a 52-week low of $39.78 and a 52-week high of $69.00.
Apache Corporation (NYSE:APA) last released its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. Apache Corporation’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.26) EPS. Equities analysts predict that Apache Corporation will post $0.09 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on the company. Scotiabank restated a “hold” rating and set a $58.00 price objective on shares of Apache Corporation in a research report on Monday, May 15th. BMO Capital Markets restated a “hold” rating and set a $53.00 price objective on shares of Apache Corporation in a research report on Monday, May 15th. Bank of America Corporation reiterated a “buy” rating and set a $57.00 price target (down previously from $60.00) on shares of Apache Corporation in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “sell” rating and set a $40.00 price target on shares of Apache Corporation in a research report on Wednesday, May 17th. Finally, Zacks Investment Research upgraded Apache Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $56.26.
In related news, Director John E. Lowe bought 2,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $40.32 per share, with a total value of $80,640.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at $483,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Lowe purchased 2,500 shares of Apache Corporation stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average price 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. In the last ninety days, insiders purchased 5,400 shares of company stock worth $231,131. 0.48% of the stock is owned by company insiders.
About Apache Corporation
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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