FormulaFolio Investments LLC Invests $724,000 in Apache Co. (NASDAQ:APA)


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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.

Shares of NASDAQ APA opened at $18.02 on Thursday. The stock has a market capitalization of $6.81 billion, a PE ratio of -0.87 and a beta of 4.87. Apache Co. has a 12-month low of $6.72 and a 12-month high of $23.85. The stock’s fifty day simple moving average is $19.71 and its two-hundred day simple moving average is $15.93.

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.

About Apache

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.

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Institutional Ownership by Quarter for Apache (NASDAQ:APA)

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