Taylor Cottrill Erickson & Associates Inc. trimmed its stake in shares of Apache Co. (NYSE:APA) by 14.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,190 shares of the energy company’s stock after selling 4,295 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in Apache were worth $730,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC increased its position in Apache by 66.1% in the 1st quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock worth $44,000 after purchasing an additional 508 shares during the last quarter. Cribstone Capital Management LLC increased its holdings in shares of Apache by 261.3% during the 1st quarter. Cribstone Capital Management LLC now owns 1,355 shares of the energy company’s stock valued at $47,000 after acquiring an additional 980 shares during the last quarter. NEXT Financial Group Inc increased its holdings in shares of Apache by 4,074.7% during the 2nd quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock valued at $91,000 after acquiring an additional 3,056 shares during the last quarter. Investors Research Corp acquired a new position in shares of Apache during the 1st quarter valued at about $105,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Apache by 168.9% during the 1st quarter. Quadrant Capital Group LLC now owns 3,329 shares of the energy company’s stock valued at $109,000 after acquiring an additional 2,091 shares during the last quarter. 96.38% of the stock is owned by institutional investors and hedge funds.
Shares of APA stock traded down $1.13 during mid-day trading on Wednesday, reaching $21.79. The stock had a trading volume of 281,846 shares, compared to its average volume of 5,473,966. The company has a 50 day moving average of $26.26. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00. Apache Co. has a one year low of $22.51 and a one year high of $50.03. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 7.49 and a beta of 1.80.
Apache (NYSE:APA) last announced its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. As a group, sell-side analysts expect that Apache Co. will post 0.5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a $0.25 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.59%. Apache’s dividend payout ratio is currently 56.50%.
A number of research analysts have recently commented on the company. Seaport Global Securities reissued a “neutral” rating on shares of Apache in a report on Friday, June 21st. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, May 20th. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Morgan Stanley lowered their price objective on Apache from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Finally, ValuEngine raised Apache from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $39.50.
In other news, EVP William Mark Meyer acquired 2,000 shares of Apache stock in a transaction on Friday, May 31st. The stock was bought at an average price of $25.92 per share, for a total transaction of $51,840.00. Following the transaction, the executive vice president now owns 2,919 shares of the company’s stock, valued at $75,660.48. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Juliet S. Ellis acquired 3,500 shares of Apache stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $27.26 per share, with a total value of $95,410.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $95,410. The disclosure for this purchase can be found here. 0.69% of the stock is currently owned by company insiders.
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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