Palisade Asset Management LLC cut its stake in shares of Apache Corporation (NYSE:APA) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,821 shares of the energy company’s stock after selling 156 shares during the period. Palisade Asset Management LLC’s holdings in Apache Corporation were worth $2,915,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Apache Corporation by 3,551.6% in the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock valued at $1,490,509,000 after buying an additional 28,209,565 shares in the last quarter. Vanguard Group Inc. increased its stake in Apache Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,319,658 shares of the energy company’s stock valued at $1,352,568,000 after buying an additional 626,822 shares in the last quarter. State Street Corp increased its stake in Apache Corporation by 0.7% in the first quarter. State Street Corp now owns 19,938,329 shares of the energy company’s stock valued at $1,024,633,000 after buying an additional 146,990 shares in the last quarter. Harris Associates L P increased its stake in Apache Corporation by 16.4% in the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock valued at $842,663,000 after buying an additional 2,307,915 shares in the last quarter. Finally, FIL Ltd increased its stake in Apache Corporation by 1.0% in the first quarter. FIL Ltd now owns 5,187,065 shares of the energy company’s stock valued at $266,563,000 after buying an additional 49,710 shares in the last quarter. 94.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Apache Corporation (NYSE:APA) opened at 43.58 on Thursday. The stock’s 50 day moving average price is $47.32 and its 200-day moving average price is $50.76. The company’s market cap is $16.58 billion. Apache Corporation has a one year low of $43.24 and a one year high of $69.00.

Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the business posted ($0.26) EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect that Apache Corporation will post $0.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Friday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. Apache Corporation’s payout ratio is currently -4,997.50%.

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Several analysts have issued reports on APA shares. ValuEngine downgraded Apache Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Apache Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Scotiabank reissued a “hold” rating and issued a $58.00 price target on shares of Apache Corporation in a research note on Friday, May 5th. Stifel Nicolaus started coverage on Apache Corporation in a research note on Tuesday, July 4th. They issued a “hold” rating and a $54.00 price target on the stock. Finally, BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Apache Corporation in a research note on Friday, May 5th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $56.39.

In related news, Director John E. Lowe purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was bought at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rene R. Joyce purchased 10,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $51.38 per share, with a total value of $513,800.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $513,800. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

About Apache Corporation

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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Institutional Ownership by Quarter for Apache Corporation (NYSE:APA)

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