PNC Financial Services Group Inc. lifted its holdings in shares of Apache Corporation (NYSE:APA) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,422 shares of the energy company’s stock after buying an additional 12,177 shares during the period. PNC Financial Services Group Inc.’s holdings in Apache Corporation were worth $6,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Apache Corporation by 3,551.6% during the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock worth $1,490,509,000 after buying an additional 28,209,565 shares during the period. Vanguard Group Inc. boosted its position in shares of Apache Corporation by 2.4% during the first quarter. Vanguard Group Inc. now owns 26,319,658 shares of the energy company’s stock worth $1,352,568,000 after buying an additional 626,822 shares during the period. State Street Corp boosted its position in shares of Apache Corporation by 0.7% during the first quarter. State Street Corp now owns 19,938,329 shares of the energy company’s stock worth $1,024,633,000 after buying an additional 146,990 shares during the period. Harris Associates L P boosted its position in shares of Apache Corporation by 16.4% during the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock worth $842,663,000 after buying an additional 2,307,915 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Apache Corporation by 11.2% during the second quarter. Franklin Resources Inc. now owns 13,215,507 shares of the energy company’s stock worth $633,381,000 after buying an additional 1,335,127 shares during the period. Institutional investors and hedge funds own 95.00% of the company’s stock.

APA has been the subject of several analyst reports. ValuEngine downgraded Apache Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. 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. J P Morgan Chase & Co downgraded Apache Corporation from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $46.00 to $38.00 in a research report on Thursday, September 14th. Stifel Nicolaus initiated coverage on Apache Corporation in a research report on Tuesday, July 4th. They set a “hold” rating and a $54.00 price objective for the company. Finally, Jefferies Group LLC set a $35.00 price objective on Apache Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 29th. Nine analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $53.16.

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In other Apache Corporation news, Director John E. Lowe acquired 2,000 shares of Apache Corporation stock in a transaction on Thursday, August 17th. The shares were purchased at an average cost of $40.32 per share, with a total value of $80,640.00. Following the completion of the purchase, the director now owns 12,000 shares in the company, valued at $483,840. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George D. Lawrence acquired 900 shares of Apache Corporation stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the purchase, the director now owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 5,500 shares of company stock worth $235,094. Insiders own 0.48% of the company’s stock.

Apache Corporation (NYSE APA) opened at 43.57 on Friday. The company’s market cap is $16.60 billion. The firm has a 50 day moving average price of $41.50 and a 200 day moving average price of $47.40. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00.

Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.41 billion. During the same period in the previous year, the business posted ($0.26) earnings per share. Apache Corporation’s revenue was up .1% compared to the same quarter last year. On average, analysts anticipate that Apache Corporation will post $0.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. Apache Corporation’s payout ratio is presently -4,997.50%.

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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

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

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