Virtu Financial LLC Cuts Holdings in Apache Co. (APA)
Virtu Financial LLC cut its stake in Apache Co. (NYSE:APA) by 72.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,557 shares of the energy company’s stock after selling 40,576 shares during the quarter. Virtu Financial LLC’s holdings in Apache were worth $539,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Norway Savings Bank raised its position in Apache by 50.8% in the first quarter. Norway Savings Bank now owns 16,054 shares of the energy company’s stock valued at $557,000 after purchasing an additional 5,410 shares during the period. Cribstone Capital Management LLC increased its position in shares of Apache by 261.3% during the first quarter. Cribstone Capital Management LLC now owns 1,355 shares of the energy company’s stock worth $47,000 after acquiring an additional 980 shares during the last quarter. Foundation Resource Management Inc. increased its position in shares of Apache by 23.3% during the first quarter. Foundation Resource Management Inc. now owns 28,984 shares of the energy company’s stock worth $1,005,000 after acquiring an additional 5,485 shares during the last quarter. Webster Bank N. A. increased its position in shares of Apache by 6.3% during the first quarter. Webster Bank N. A. now owns 16,545 shares of the energy company’s stock worth $573,000 after acquiring an additional 977 shares during the last quarter. Finally, Reinhart Partners Inc. increased its position in shares of Apache by 5.0% during the first quarter. Reinhart Partners Inc. now owns 593,748 shares of the energy company’s stock worth $20,579,000 after acquiring an additional 28,518 shares during the last quarter. 99.82% of the stock is currently owned by institutional investors.
Shares of Apache stock opened at $35.87 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.22 and a quick ratio of 1.04. The stock has a market capitalization of $13.48 billion, a P/E ratio of 20.27, a PEG ratio of 5.90 and a beta of 1.76. Apache Co. has a fifty-two week low of $24.56 and a fifty-two week high of $50.03.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, April 18th. Apache’s dividend payout ratio is currently 56.50%.
APA has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on Apache from $30.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Royal Bank of Canada reaffirmed a “hold” rating and set a $39.00 target price on shares of Apache in a research report on Monday, January 7th. Seaport Global Securities reaffirmed a “hold” rating on shares of Apache in a research report on Wednesday, January 30th. Raymond James reaffirmed a “buy” rating and set a $51.00 target price on shares of Apache in a research report on Monday, December 24th. Finally, Barclays initiated coverage on Apache in a research report on Wednesday, January 16th. They set an “underweight” rating and a $29.00 target price on the stock. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.82.
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Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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