Apache Corporation (APA) Stake Boosted by Jennison Associates LLC
Jennison Associates LLC raised its position in Apache Corporation (NYSE:APA) by 330.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,809 shares of the energy company’s stock after buying an additional 51,286 shares during the period. Jennison Associates LLC’s holdings in Apache Corporation were worth $3,202,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of APA. Invictus RG acquired a new stake in shares of Apache Corporation during the first quarter worth $100,000. Thompson Davis & CO. Inc. increased its stake in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock worth $103,000 after buying an additional 506 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Apache Corporation during the first quarter worth $135,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of Apache Corporation during the second quarter worth $142,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.
Apache Corporation (APA) opened at 39.35 on Tuesday. The firm’s 50 day moving average is $45.27 and its 200 day moving average is $49.16. The company’s market cap is $14.99 billion. Apache Corporation has a 52-week low of $38.82 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 for the quarter, missing the consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.26) EPS. Analysts forecast that Apache Corporation will post $0.06 EPS for the current fiscal year.
A number of analysts have weighed in on APA shares. Bank of America Corporation reiterated a “buy” rating and set a $57.00 price target (down from $60.00) on shares of Apache Corporation in a report on Thursday, May 11th. Zacks Investment Research upgraded Apache Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Scotiabank reiterated a “hold” rating and set a $58.00 price target on shares of Apache Corporation in a report on Friday, May 5th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of Apache Corporation in a report on Friday, May 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $64.00 price target on shares of Apache Corporation in a report on Friday, May 26th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. Apache Corporation presently has an average rating of “Hold” and an average price target of $56.26.
In related news, Director George D. Lawrence bought 900 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $42.49 per share, with a total value of $38,241.00. Following the transaction, the director now owns 38,445 shares in the company, valued at $1,633,528.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $483,840. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 5,500 shares of company stock worth $235,094. 0.48% of the stock is owned by insiders.
Apache Corporation Company Profile
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.
Receive News & Ratings for Apache Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.