Salem Investment Counselors Inc. Has $384,000 Position in Apache Corporation (APA)
Salem Investment Counselors Inc. lifted its stake in shares of Apache Corporation (NYSE:APA) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,019 shares of the energy company’s stock after buying an additional 19 shares during the period. Salem Investment Counselors Inc.’s holdings in Apache Corporation were worth $384,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Invictus RG bought a new stake in Apache Corporation during the first quarter worth $100,000. Hanson McClain Inc. purchased a new stake in Apache Corporation in the 2nd quarter valued at $106,000. Parallel Advisors LLC raised its position in Apache Corporation by 7.4% in the 1st 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 during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Apache Corporation during the 2nd quarter valued at $142,000. Finally, Global X Management Co. LLC lifted its stake in Apache Corporation by 28.6% during the 1st quarter. Global X Management Co. LLC now owns 3,002 shares of the energy company’s stock valued at $154,000 after acquiring an additional 668 shares in the last quarter. 95.00% of the stock is currently owned by institutional investors.
APA has been the topic of a number of analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apache Corporation in a report on Thursday, September 21st. J P Morgan Chase & Co downgraded shares of Apache Corporation from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $46.00 to $38.00 in a report on Thursday, September 14th. Jefferies Group LLC set a $35.00 target price on shares of Apache Corporation and gave the company a “sell” rating in a report on Tuesday, August 29th. Royal Bank Of Canada set a $55.00 price target on shares of Apache Corporation and gave the company a “hold” rating in a research report on Thursday, August 24th. Finally, BidaskClub lowered shares of Apache Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $51.59.
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In other Apache Corporation news, Director John E. Lowe acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $40.32 per share, with a total value of $80,640.00. Following the completion of the acquisition, the director now owns 12,000 shares in the company, valued at approximately $483,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction that occurred 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 owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 5,500 shares of company stock valued at $235,094. Corporate insiders own 0.48% of the company’s stock.
Shares of Apache Corporation (NYSE:APA) traded up 0.02% during trading on Tuesday, reaching $45.73. 235,817 shares of the company’s stock were exchanged. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The stock has a 50-day moving average price of $41.55 and a 200 day moving average price of $47.02. The firm’s market cap is $17.42 billion.
Apache Corporation (NYSE:APA) last posted 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 net margin of 0.07% and a negative return on equity of 1.03%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company posted ($0.26) EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Apache Corporation will post $0.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. Apache Corporation’s dividend payout ratio is currently -4,997.50%.
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. 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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