Patten Group Inc. Increases Holdings in Apache Co. (APA)
Patten Group Inc. raised its position in shares of Apache Co. (NYSE:APA) by 16.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,915 shares of the energy company’s stock after buying an additional 4,398 shares during the quarter. Patten Group Inc.’s holdings in Apache were worth $1,256,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in APA. Dodge & Cox raised its position in shares of Apache by 4.0% during the 2nd quarter. Dodge & Cox now owns 29,922,731 shares of the energy company’s stock worth $1,434,196,000 after purchasing an additional 1,152,395 shares during the period. Vanguard Group Inc. raised its position in shares of Apache by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,448,494 shares of the energy company’s stock worth $1,267,676,000 after purchasing an additional 128,836 shares during the period. State Street Corp raised its position in shares of Apache by 0.7% during the 2nd quarter. State Street Corp now owns 20,068,849 shares of the energy company’s stock worth $961,903,000 after purchasing an additional 130,520 shares during the period. Harris Associates L P raised its position in shares of Apache by 14.3% during the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after purchasing an additional 2,343,985 shares during the period. Finally, FMR LLC raised its position in shares of Apache by 2.7% during the 2nd quarter. FMR LLC now owns 15,112,873 shares of the energy company’s stock worth $724,360,000 after purchasing an additional 404,098 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.
Apache Co. (APA) opened at $40.70 on Monday. Apache Co. has a fifty-two week low of $38.14 and a fifty-two week high of $69.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37.
Apache (NYSE:APA) last issued its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Apache had a negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company posted ($0.03) EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts anticipate that Apache Co. will post 0.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Friday, October 20th. Apache’s payout ratio is currently 57.47%.
A number of analysts have recently weighed in on the company. Scotiabank reiterated a “hold” rating and set a $49.00 price target on shares of Apache in a research report on Tuesday, October 10th. Zacks Investment Research cut Apache from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Jefferies Group reiterated an “underperform” rating and set a $38.00 price target on shares of Apache in a research report on Tuesday, October 10th. Stifel Nicolaus set a $42.00 price target on Apache and gave the stock a “hold” rating in a research report on Thursday, October 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $55.00 price target on shares of Apache in a research report on Tuesday, November 7th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $48.06.
In other Apache news, insider P Anthony Lannie sold 19,514 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the transaction, the insider now directly owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.
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Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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