Apache Co. (APA) Stake Raised by New York State Common Retirement Fund
New York State Common Retirement Fund increased its position in shares of Apache Co. (NYSE:APA) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,392,662 shares of the energy company’s stock after acquiring an additional 125,819 shares during the quarter. New York State Common Retirement Fund owned 0.37% of Apache worth $63,784,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in APA. Russell Investments Group Ltd. raised its holdings in shares of Apache by 6.6% during the second quarter. Russell Investments Group Ltd. now owns 366,596 shares of the energy company’s stock valued at $17,572,000 after acquiring an additional 22,848 shares during the period. Bessemer Group Inc. increased its stake in Apache by 1.4% in the 2nd quarter. Bessemer Group Inc. now owns 89,335 shares of the energy company’s stock valued at $4,282,000 after buying an additional 1,251 shares during the period. Candriam Luxembourg S.C.A. increased its stake in Apache by 3.0% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 63,052 shares of the energy company’s stock valued at $3,022,000 after buying an additional 1,819 shares during the period. Retirement Systems of Alabama increased its stake in Apache by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 265,282 shares of the energy company’s stock valued at $12,715,000 after buying an additional 892 shares during the period. Finally, Tdam USA Inc. increased its stake in Apache by 0.5% in the 2nd quarter. Tdam USA Inc. now owns 10,426 shares of the energy company’s stock valued at $495,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.
Shares of Apache Co. (NYSE APA) opened at $43.21 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37. Apache Co. has a 1 year low of $38.14 and a 1 year high of $69.00.
Apache (NYSE:APA) last posted its earnings results on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. Apache had a net margin of 10.60% and a negative return on equity of 0.70%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. equities research analysts forecast that Apache Co. will post 0.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, October 20th. Apache’s dividend payout ratio is 57.47%.
Several research analysts have weighed in on APA shares. Scotiabank set a $52.00 price objective on shares of Apache and gave the company a “hold” rating in a research note on Friday, August 11th. Citigroup dropped their price objective on shares of Apache from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 15th. BidaskClub lowered shares of Apache from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Royal Bank Of Canada set a $55.00 price objective on shares of Apache and gave the company a “hold” rating in a research note on Thursday, August 24th. Finally, Jefferies Group set a $35.00 price objective on shares of Apache and gave the company a “sell” rating in a research note on Tuesday, August 29th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Apache presently has a consensus rating of “Hold” and an average price target of $48.06.
In other Apache news, insider P Anthony Lannie sold 19,514 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total value of $859,396.56. Following the completion of the sale, the insider now directly owns 37,469 shares of the company’s stock, valued at $1,650,134.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.
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Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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