Cigna Investments Inc. New Decreases Position in Apache Corporation (APA)
Cigna Investments Inc. New reduced its stake in shares of Apache Corporation (NYSE:APA) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,613 shares of the energy company’s stock after selling 1,147 shares during the period. Cigna Investments Inc. New’s holdings in Apache Corporation were worth $700,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APA. Macquarie Group Ltd. raised its position in Apache Corporation by 13.5% in the fourth quarter. Macquarie Group Ltd. now owns 11,800 shares of the energy company’s stock valued at $749,000 after buying an additional 1,400 shares during the period. Creative Planning raised its stake in shares of Apache Corporation by 11.2% in the first quarter. Creative Planning now owns 28,168 shares of the energy company’s stock worth $1,448,000 after buying an additional 2,831 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Apache Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 115,011 shares of the energy company’s stock worth $5,910,000 after buying an additional 1,500 shares during the last quarter. National Pension Service raised its stake in shares of Apache Corporation by 5.9% in the first quarter. National Pension Service now owns 329,429 shares of the energy company’s stock worth $17,160,000 after buying an additional 18,337 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its stake in shares of Apache Corporation by 0.4% in the first quarter. Regentatlantic Capital LLC now owns 22,523 shares of the energy company’s stock worth $1,157,000 after buying an additional 83 shares during the last quarter. 94.04% of the stock is currently owned by institutional investors.
Apache Corporation (NYSE:APA) opened at 42.39 on Friday. The firm has a 50 day moving average price of $47.14 and a 200 day moving average price of $50.57. The company’s market cap is $16.15 billion. Apache Corporation has a 12-month low of $42.17 and a 12-month high of $69.00.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data 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 net margin of 0.07% and a negative return on equity of 1.03%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business posted ($0.26) earnings per share. Apache Corporation’s revenue was up .1% compared to the same quarter last year. On average, analysts anticipate that Apache Corporation will post $0.13 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on APA shares. Barclays PLC reaffirmed a “sell” rating and set a $41.00 target price (down from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. BMO Capital Markets set a $45.00 target price on Apache Corporation and gave the stock a “hold” rating in a research report on Monday, June 26th. Scotiabank set a $50.00 target price on Apache Corporation and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $64.00 target price on shares of Apache Corporation in a research report on Friday, June 16th. Finally, Zacks Investment Research lowered Apache Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. Apache Corporation presently has a consensus rating of “Hold” and a consensus target price of $56.48.
In other news, Director Rene R. Joyce bought 10,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $513,800. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company 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.
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