BlackRock Inc. Has $1.28 Billion Holdings in Apache Corporation (APA)
BlackRock Inc. lowered its position in shares of Apache Corporation (NYSE:APA) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,675,067 shares of the energy company’s stock after selling 2,328,783 shares during the quarter. BlackRock Inc. owned 7.01% of Apache Corporation worth $1,278,536,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Fulton Bank N.A. lifted its holdings in Apache Corporation by 0.6% during the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after purchasing an additional 59 shares in the last quarter. Utah Retirement Systems lifted its holdings in Apache Corporation by 0.6% during the second quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock valued at $3,345,000 after purchasing an additional 400 shares in the last quarter. ARGA Investment Management LP lifted its holdings in Apache Corporation by 27.8% during the second quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after purchasing an additional 19,300 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Apache Corporation during the first quarter valued at approximately $48,518,000. Finally, Westpac Banking Corp lifted its holdings in Apache Corporation by 4.6% during the second quarter. Westpac Banking Corp now owns 158,502 shares of the energy company’s stock valued at $7,597,000 after purchasing an additional 6,900 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on APA. Scotiabank set a $50.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. Wolfe Research cut shares of Apache Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Wells Fargo & Company reiterated a “market perform” rating and set a $48.00 price objective (down previously from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Citigroup Inc. reduced their price objective on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Finally, Seaport Global Securities cut shares of Apache Corporation from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $52.00 to $36.00 in a research report on Wednesday, June 21st. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.16.
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Apache Corporation (APA) opened at 42.52 on Friday. The stock’s market capitalization is $16.20 billion. The firm’s 50-day moving average is $41.94 and its 200 day moving average is $47.62. Apache Corporation has a 1-year low of $38.14 and a 1-year high of $69.00.
Apache Corporation (NYSE:APA) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned ($0.26) earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that Apache Corporation will post $0.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is presently -4,997.50%.
In related news, Director John E. Lowe bought 2,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $40.32 per share, with a total value of $80,640.00. Following the purchase, the director now directly owns 12,000 shares of the company’s stock, valued at $483,840. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction on Monday, August 7th. The stock was bought at an average cost of $44.90 per share, with a total value of $112,250.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. Insiders acquired a total of 5,500 shares of company stock valued at $235,094 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.
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. 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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