Korea Investment CORP lowered its position in Apache Co. (NYSE:APA) by 77.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,462 shares of the energy company’s stock after selling 221,785 shares during the quarter. Korea Investment CORP’s holdings in Apache were worth $3,121,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APA. Zions Bancorporation bought a new position in Apache in the third quarter valued at $103,000. Field & Main Bank bought a new position in Apache in the third quarter valued at $120,000. Dorsey & Whitney Trust CO LLC bought a new position in Apache in the third quarter valued at $205,000. Wesbanco Bank Inc. bought a new position in Apache in the second quarter valued at $207,000. Finally, Mutual Advisors LLC bought a new position in Apache in the second quarter valued at $208,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:APA opened at $35.04 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.90. The stock has a market cap of $13.30 billion, a PE ratio of 146.00, a P/E/G ratio of 2.49 and a beta of 1.32. Apache Co. has a 12-month low of $33.60 and a 12-month high of $50.03.

Apache (NYSE:APA) last posted its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.16. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.89 billion. Apache had a net margin of 12.11% and a return on equity of 7.71%. Apache’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, analysts anticipate that Apache Co. will post 2.01 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd were issued a dividend of $0.25 per share. The ex-dividend date was Friday, October 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.85%. Apache’s dividend payout ratio is currently 416.67%.

A number of research analysts recently commented on the company. Piper Jaffray Companies cut Apache from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $40.00 price objective on shares of Apache in a research note on Monday, November 5th. ValuEngine raised Apache from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Jefferies Financial Group reduced their price objective on Apache to $31.00 and set an “underperform” rating on the stock in a research note on Thursday, November 15th. Finally, Cowen started coverage on Apache in a research note on Thursday, November 29th. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $46.52.

In other news, insider Rebecca A. Hoyt sold 6,111 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $47.48, for a total transaction of $290,150.28. Following the completion of the sale, the insider now directly owns 30,548 shares in the company, valued at $1,450,419.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.

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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 Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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