Patten Group Inc. lowered its stake in shares of Apache Co. (NYSE:APA) by 23.1% during the third quarter, Holdings Channel reports. The institutional investor owned 11,793 shares of the energy company’s stock after selling 3,550 shares during the quarter. Patten Group Inc.’s holdings in Apache were worth $562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APA. Boston Common Asset Management LLC increased its holdings in Apache by 3.9% during the 2nd quarter. Boston Common Asset Management LLC now owns 29,547 shares of the energy company’s stock worth $1,381,000 after purchasing an additional 1,120 shares during the period. Guinness Atkinson Asset Management Inc raised its stake in Apache by 4.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 25,509 shares of the energy company’s stock valued at $1,193,000 after acquiring an additional 1,200 shares during the last quarter. Greylin Investment Mangement Inc. raised its stake in Apache by 1.3% during the 2nd quarter. Greylin Investment Mangement Inc. now owns 107,460 shares of the energy company’s stock valued at $5,024,000 after acquiring an additional 1,330 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in Apache by 2.2% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 62,322 shares of the energy company’s stock valued at $2,914,000 after acquiring an additional 1,359 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its stake in shares of Apache by 5.7% during the 3rd quarter. First Republic Investment Management Inc. now owns 26,751 shares of the energy company’s stock worth $1,275,000 after buying an additional 1,439 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

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

Several equities analysts recently weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Apache in a research note on Thursday, August 30th. Stephens started coverage on Apache in a report on Thursday. They set a “buy” rating and a $50.00 target price on the stock. ValuEngine upgraded Apache from a “sell” rating to a “hold” rating in a report on Friday, August 24th. BMO Capital Markets reiterated a “hold” rating and issued a $37.00 target price on shares of Apache in a report on Tuesday, November 13th. Finally, Jefferies Financial Group reduced their target price on Apache to $31.00 and set an “underperform” rating on the stock in a report on Thursday, November 15th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $46.29.

Apache stock traded down $0.99 during trading hours on Thursday, hitting $34.05. 39,301 shares of the stock were exchanged, compared to its average volume of 4,097,304. 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 capitalization of $13.30 billion, a price-to-earnings ratio of 141.88, 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 released its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the firm earned $0.04 earnings per share. Apache’s revenue was up 25.9% compared to the same quarter last year. As a group, equities research analysts predict 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. Shareholders of record on Monday, October 22nd were issued a $0.25 dividend. The ex-dividend date was Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 2.94%. Apache’s dividend payout ratio (DPR) is presently 416.67%.

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Apache Profile

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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