Pioneer Investment Management Inc. Invests $20.22 Million in Apache Corporation (NYSE:APA)
Pioneer Investment Management Inc. bought a new position in shares of Apache Corporation (NYSE:APA) during the second quarter, Holdings Channel reports. The fund bought 421,945 shares of the energy company’s stock, valued at approximately $20,224,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Bank purchased a new position in Apache Corporation during the first quarter valued at $100,000. Invictus RG purchased a new position in Apache Corporation during the first quarter valued at $100,000. Thompson Davis & CO. Inc. boosted its position in Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after buying an additional 506 shares in the last quarter. Parallel Advisors LLC boosted its position in Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after buying an additional 161 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Apache Corporation during the first quarter valued at $135,000. 94.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Apache Corporation (NYSE APA) opened at 42.61 on Friday. The company’s market cap is $16.23 billion. The firm has a 50-day moving average price of $47.23 and a 200 day moving average price of $50.70. Apache Corporation has a 1-year low of $42.35 and a 1-year high of $69.00.
Apache Corporation (NYSE:APA) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned ($0.26) EPS. Apache Corporation’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts predict that Apache Corporation will post $0.22 EPS for the current fiscal year.
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Several research analysts have recently weighed in on APA shares. Barclays PLC reaffirmed a “sell” rating and set a $41.00 price objective (down from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. BMO Capital Markets set a $45.00 price objective on Apache Corporation and gave the stock a “hold” rating in a research report on Monday, June 26th. Scotiabank set a $50.00 price objective on Apache Corporation and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $64.00 price objective on shares of Apache Corporation in a research report on Friday, June 16th. Finally, Zacks Investment Research cut Apache Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 5th. 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’s stock. The company currently has a consensus rating of “Hold” and an average price target of $56.39.
In other Apache Corporation news, Director Rene R. Joyce bought 10,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were purchased at an average price of $51.38 per share, for a total transaction of $513,800.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $513,800. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was acquired 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 $449,000. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.
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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