Swiss National Bank Raises Position in Apache Corporation (APA)
Swiss National Bank increased its position in shares of Apache Corporation (NYSE:APA) by 1.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,400,732 shares of the company’s stock after acquiring an additional 13,400 shares during the period. Swiss National Bank owned about 367,713.75% of Apache Corporation worth $64,154,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Stoneridge Investment Partners LLC bought a new stake in shares of Apache Corporation in the 3rd quarter valued at about $2,166,000. American Century Companies Inc. grew its position in shares of Apache Corporation by 1.7% in the 3rd quarter. American Century Companies Inc. now owns 586,793 shares of the company’s stock valued at $26,875,000 after buying an additional 9,751 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Apache Corporation by 0.6% in the 3rd quarter. Gabelli Funds LLC now owns 261,000 shares of the company’s stock valued at $11,954,000 after buying an additional 1,500 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Apache Corporation by 6.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 90,700 shares of the company’s stock valued at $4,154,000 after buying an additional 5,600 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its position in shares of Apache Corporation by 4.8% in the 3rd quarter. State of Wisconsin Investment Board now owns 288,867 shares of the company’s stock valued at $13,230,000 after buying an additional 13,158 shares during the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.
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A number of equities research analysts have commented on the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $55.00 price target on shares of Apache Corporation in a research report on Thursday, July 20th. Cowen and Company set a $50.00 price target on Apache Corporation and gave the company a “hold” rating in a research report on Tuesday, July 18th. Wolfe Research lowered Apache Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Wells Fargo & Company reiterated a “market perform” rating and issued a $48.00 price target (down previously from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Finally, Citigroup Inc. reduced their price target on Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Apache Corporation has an average rating of “Hold” and an average target price of C$47.82.
Apache Corporation (NYSE:APA) opened at C$43.69 on Monday. Apache Corporation has a 52 week low of C$38.14 and a 52 week high of C$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 Corporation (NYSE:APA) last posted its quarterly earnings results on Thursday, November 2nd. The company reported C$0.04 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.05) by C$0.09. Apache Corporation had a negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of C$1.39 billion for the quarter, compared to the consensus estimate of C$1.39 billion. During the same period in the prior year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts predict that Apache Corporation will post -0.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is currently 57.47%.
In other news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of C$40.32 per share, with a total value of C$80,640.00. Following the purchase, the director now owns 12,000 shares in the company, valued at C$483,840. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate 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. 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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