Retirement Systems of Alabama Increases Stake in Apache Corporation (NYSE:APA)
Retirement Systems of Alabama boosted its position in Apache Corporation (NYSE:APA) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 265,282 shares of the energy company’s stock after buying an additional 892 shares during the period. Retirement Systems of Alabama’s holdings in Apache Corporation were worth $12,715,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in Apache Corporation by 460.4% in the first quarter. CWM LLC now owns 111,892 shares of the energy company’s stock worth $5,750,000 after buying an additional 91,924 shares during the period. Heritage Investors Management Corp increased its position in Apache Corporation by 8.9% in the first quarter. Heritage Investors Management Corp now owns 283,379 shares of the energy company’s stock worth $14,563,000 after buying an additional 23,059 shares during the period. Fox Run Management L.L.C. purchased a new position in Apache Corporation during the first quarter worth about $457,000. Merriman Wealth Management LLC increased its position in Apache Corporation by 138.4% in the first quarter. Merriman Wealth Management LLC now owns 63,030 shares of the energy company’s stock worth $3,239,000 after buying an additional 36,596 shares during the period. Finally, Private Bank & Trust Co. purchased a new position in Apache Corporation during the first quarter worth about $304,000. Hedge funds and other institutional investors own 94.04% of the company’s stock.
Shares of Apache Corporation (NYSE APA) opened at 43.58 on Thursday. The company has a 50 day moving average price of $47.32 and a 200-day moving average price of $50.76. The stock’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 announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.22. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.26) EPS. Equities analysts predict that Apache Corporation will post $0.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Friday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.29%. Apache Corporation’s payout ratio is currently -4,997.50%.
A number of equities analysts have recently issued reports on the company. Scotiabank restated a “hold” rating and issued a $58.00 price target on shares of Apache Corporation in a research note on Monday, May 15th. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of Apache Corporation in a research note on Monday, May 15th. Bank of America Corporation reiterated a “buy” rating and set a $57.00 target price (down from $60.00) on shares of Apache Corporation in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “sell” rating and set a $40.00 target price on shares of Apache Corporation in a research report on Wednesday, May 17th. Finally, Zacks Investment Research upgraded Apache Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $56.39.
In related news, Director John E. Lowe acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $44.90 per share, with a total value of $112,250.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rene R. Joyce acquired 10,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $51.38 per share, with a total value of $513,800.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $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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