Belpointe Asset Management LLC Buys New Stake in Apache Co. (APA)
Belpointe Asset Management LLC purchased a new stake in shares of Apache Co. (NYSE:APA) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,560 shares of the energy company’s stock, valued at approximately $987,000.
A number of other hedge funds also recently added to or reduced their stakes in APA. Canada Pension Plan Investment Board boosted its stake in Apache by 42.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 235,158 shares of the energy company’s stock valued at $11,271,000 after purchasing an additional 69,700 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Apache by 8.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,465,263 shares of the energy company’s stock valued at $70,231,000 after purchasing an additional 108,103 shares during the last quarter. Arizona State Retirement System boosted its stake in Apache by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 94,285 shares of the energy company’s stock valued at $4,519,000 after purchasing an additional 300 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in Apache by 4.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 171,679 shares of the energy company’s stock valued at $8,229,000 after purchasing an additional 7,664 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in Apache by 7.9% during the 2nd quarter. Sigma Planning Corp now owns 6,838 shares of the energy company’s stock valued at $328,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.
Apache Co. (NYSE:APA) opened at $39.72 on Wednesday. Apache Co. has a 12 month low of $38.14 and a 12 month high of $67.76. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.
Apache (NYSE:APA) last posted its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. Apache had a negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Apache’s revenue for the quarter was down 3.5% on a year-over-year basis. research analysts anticipate that Apache Co. will post 0.02 EPS for the current year.
In related news, insider P Anthony Lannie sold 19,514 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $44.04, for a total value of $859,396.56. Following the transaction, the insider now owns 37,469 shares in the company, valued at $1,650,134.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by corporate insiders.
A number of equities analysts have issued reports on the company. Scotiabank reiterated a “hold” rating and set a $49.00 price target on shares of Apache in a research note on Tuesday, October 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apache in a research note on Thursday, September 21st. Barclays lifted their price target on Apache from $26.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, November 20th. Citigroup cut their price target on Apache from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, August 15th. Finally, Royal Bank of Canada set a $55.00 price target on Apache and gave the company a “hold” rating in a research note on Thursday, August 24th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.61.
ILLEGAL ACTIVITY WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/belpointe-asset-management-llc-buys-new-stake-in-apache-co-apa/1761203.html.
Apache Company Profile
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.
Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apache Co. (NYSE:APA).
Receive News & Ratings for Apache Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache and related companies with Analyst Ratings Network's FREE daily email newsletter.