28,896,095 Shares in Apache Co. (APA) Acquired by Dodge & Cox
Dodge & Cox acquired a new position in Apache Co. (NYSE:APA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,896,095 shares of the energy company’s stock, valued at approximately $1,834,035,000. Apache makes up approximately 1.6% of Dodge & Cox’s investment portfolio, making the stock its 25th largest position. Dodge & Cox owned about 0.08% of Apache as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of APA. First National Bank of Omaha purchased a new position in shares of Apache during the third quarter worth $255,000. Legacy Private Trust Co. purchased a new position in shares of Apache during the third quarter worth $8,779,000. Creative Planning increased its position in shares of Apache by 4.6% in the third quarter. Creative Planning now owns 19,197 shares of the energy company’s stock worth $1,226,000 after buying an additional 839 shares during the period. Grassi Investment Management increased its position in shares of Apache by 2.5% in the third quarter. Grassi Investment Management now owns 9,250 shares of the energy company’s stock worth $591,000 after buying an additional 225 shares during the period. Finally, Dynamic Advisors Solutions LLC purchased a new position in shares of Apache during the third quarter worth $207,000. Institutional investors and hedge funds own 93.38% of the company’s stock.
Shares of Apache Co. (NYSE:APA) traded down 1.591% during mid-day trading on Monday, reaching $50.405. 1,454,575 shares of the company traded hands. The company’s market capitalization is $19.14 billion. Apache Co. has a 52 week low of $46.15 and a 52 week high of $69.00. The stock’s 50-day moving average is $54.59 and its 200-day moving average is $59.94.
Apache (NYSE:APA) last released its earnings results on Thursday, February 23rd. The energy company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.13. Apache had a negative return on equity of 4.70% and a negative net margin of 166.56%. The firm earned $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business posted ($0.06) EPS. The firm’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Apache Co. will post $1.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Friday, April 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Wednesday, April 19th. Apache’s dividend payout ratio (DPR) is presently -4.42%.
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A number of brokerages have weighed in on APA. Wells Fargo & Co downgraded shares of Apache from an “outperform” rating to a “market perform” rating in a research report on Friday, December 16th. Howard Weil downgraded shares of Apache from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $70.00 to $71.00 in a research report on Thursday, December 15th. Royal Bank of Canada reiterated a “hold” rating and issued a $66.00 price objective on shares of Apache in a research report on Wednesday, January 4th. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Monday, January 9th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $65.00 price objective on shares of Apache in a research report on Wednesday, January 11th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $62.35.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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