Palisade Capital Management LLC NJ held its position in shares of Apache Corporation (NYSE:APA) during the second quarter, Holdings Channel reports. The fund owned 6,185 shares of the energy company’s stock at the end of the second quarter. Palisade Capital Management LLC NJ’s holdings in Apache Corporation were worth $296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in APA. Tdam USA Inc. increased its stake in Apache Corporation by 0.5% in the second quarter. Tdam USA Inc. now owns 10,426 shares of the energy company’s stock valued at $495,000 after buying an additional 55 shares during the last quarter. Retirement Systems of Alabama increased its stake in Apache Corporation by 0.3% in the second quarter. Retirement Systems of Alabama now owns 265,282 shares of the energy company’s stock valued at $12,715,000 after buying an additional 892 shares during the last quarter. Eagle Ridge Investment Management increased its stake in Apache Corporation by 13.0% in the second quarter. Eagle Ridge Investment Management now owns 4,784 shares of the energy company’s stock valued at $203,000 after buying an additional 550 shares during the last quarter. Rand Wealth LLC increased its stake in Apache Corporation by 11.5% in the second quarter. Rand Wealth LLC now owns 5,495 shares of the energy company’s stock valued at $263,000 after buying an additional 565 shares during the last quarter. Finally, Korea Investment CORP increased its stake in Apache Corporation by 94.2% in the second quarter. Korea Investment CORP now owns 594,422 shares of the energy company’s stock valued at $28,491,000 after buying an additional 288,366 shares during the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.

Apache Corporation (APA) opened at 43.58 on Thursday. Apache Corporation has a 12-month low of $43.24 and a 12-month high of $69.00. The firm’s market cap is $16.58 billion. The company has a 50-day moving average price of $47.32 and a 200-day moving average price of $50.76.

Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the firm posted ($0.26) EPS. Apache Corporation’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts predict that Apache Corporation will post $0.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, July 19th. Apache Corporation’s dividend payout ratio is presently -4,997.50%.

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Several analysts have weighed in on the company. BidaskClub downgraded Apache Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. BMO Capital Markets set a $45.00 price target on Apache Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Scotiabank set a $50.00 price target on Apache Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Wells Fargo & Company reiterated a “market perform” rating and set a $48.00 price target (down previously from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. Finally, Citigroup Inc. dropped their price target on Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, July 21st. Eight 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 currently has an average rating of “Hold” and a consensus target price of $56.39.

In other Apache Corporation news, Director Rene R. Joyce acquired 10,000 shares of the stock in a transaction on 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at $513,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Lowe acquired 2,500 shares of the stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by 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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Institutional Ownership by Quarter for Apache Corporation (NYSE:APA)

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