FormulaFolio Investments LLC acquired a new position in Apache Co. (NASDAQ:APA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 50,994 shares of the company’s stock, valued at approximately $724,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in APA. Mcmillion Capital Management Inc. bought a new position in Apache during the fourth quarter valued at approximately $28,000. Inspire Advisors LLC bought a new position in Apache during the fourth quarter valued at approximately $40,000. Motco boosted its stake in Apache by 13,658.3% during the fourth quarter. Motco now owns 3,302 shares of the company’s stock valued at $47,000 after buying an additional 3,278 shares during the last quarter. Rational Advisors LLC lifted its stake in shares of Apache by 309.7% in the 4th quarter. Rational Advisors LLC now owns 6,740 shares of the company’s stock valued at $96,000 after purchasing an additional 5,095 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Apache in the 4th quarter valued at approximately $301,000. 82.52% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Juliet S. Ellis purchased 4,545 shares of the stock in a transaction on Friday, March 12th. The stock was bought at an average price of $22.05 per share, with a total value of $100,217.25. Following the transaction, the director now owns 8,045 shares in the company, valued at approximately $177,392.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen J. Riney sold 35,000 shares of Apache stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $19.38, for a total value of $678,300.00. Following the sale, the chief financial officer now directly owns 106,268 shares of the company’s stock, valued at approximately $2,059,473.84. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
Apache (NASDAQ:APA) last posted its quarterly earnings data on Tuesday, February 23rd. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.06. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Apache had a negative return on equity of 48.58% and a negative net margin of 162.10%. As a group, analysts forecast that Apache Co. will post -1.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 21st. Stockholders of record on Thursday, April 22nd will be given a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, April 21st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.56%.
Several equities research analysts have recently issued reports on the company. Truist lowered Apache from a “buy” rating to a “hold” rating in a research note on Tuesday, March 30th. KeyCorp increased their price target on Apache from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, March 17th. Credit Suisse Group increased their price target on Apache from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, March 3rd. Morgan Stanley upgraded Apache from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $16.00 to $25.00 in a report on Wednesday, March 17th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $20.00 price target on shares of Apache in a report on Monday, March 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apache currently has a consensus rating of “Hold” and a consensus target price of $18.43.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). It holds onshore conventional assets in Egypt's Western desert; and offshore assets in the North Sea region, including the United Kingdom. The company also has an offshore exploration program in Suriname.
See Also: How dollar cost averaging works
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. (NASDAQ: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 MarketBeat.com's FREE daily email newsletter.