Wedbush Securities Inc. Buys 171 Shares of Apache Corporation (APA)
Wedbush Securities Inc. increased its stake in shares of Apache Corporation (NYSE:APA) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,567 shares of the energy company’s stock after buying an additional 171 shares during the period. Wedbush Securities Inc.’s holdings in Apache Corporation were worth $554,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of APA. Pinnacle Bank bought a new position in Apache Corporation during the first quarter valued at $100,000. Invictus RG bought a new position in Apache Corporation during the first quarter valued at $100,000. Thompson Davis & CO. Inc. raised its position in Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after buying an additional 506 shares during the period. Parallel Advisors LLC raised its position in Apache Corporation by 7.4% in the first 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 period. Finally, State of Alaska Department of Revenue bought a new position in Apache Corporation during the first quarter valued at $135,000. Institutional investors own 93.72% of the company’s stock.
Shares of Apache Corporation (NYSE:APA) opened at 41.54 on Wednesday. Apache Corporation has a 52-week low of $41.00 and a 52-week high of $69.00. The company’s 50-day moving average price is $46.88 and its 200-day moving average price is $50.11. The firm’s market capitalization is $15.82 billion.
Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) earnings per share. On average, equities research analysts expect that Apache Corporation will post $0.12 EPS for the current fiscal year.
Several equities analysts have weighed in on APA shares. Bank of America Corporation restated a “buy” rating and set a $57.00 target price (down from $60.00) on shares of Apache Corporation in a report on Thursday, May 11th. Zacks Investment Research upgraded Apache Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Scotiabank restated a “hold” rating and set a $58.00 target price on shares of Apache Corporation in a report on Friday, May 5th. BMO Capital Markets restated a “hold” rating and set a $53.00 target price on shares of Apache Corporation in a report on Friday, May 5th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $63.00 target price on shares of Apache Corporation in a report on Tuesday, April 25th. Eight 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 company. The company currently has a consensus rating of “Hold” and an average price target of $56.26.
In related news, Director George D. Lawrence purchased 900 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $42.49 per share, with a total value of $38,241.00. Following the acquisition, the director now directly owns 38,445 shares in the company, valued at $1,633,528.05. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John E. Lowe purchased 2,500 shares of the stock in a transaction on Monday, August 7th. The stock was bought at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. 0.48% of the stock is owned by corporate insiders.
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. 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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