Welch & Forbes LLC decreased its stake in shares of Apache Corp. (NYSE:APA) by 17.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,392 shares of the energy company’s stock after selling 7,838 shares during the period. Welch & Forbes LLC’s holdings in Apache Corp. were worth $2,026,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Zions Bancorporation boosted its position in Apache Corp. by 0.9% in the first quarter. Zions Bancorporation now owns 2,332 shares of the energy company’s stock valued at $115,000 after buying an additional 21 shares during the last quarter. Williams Jones & Associates LLC acquired a new position in shares of Apache Corp. during the first quarter worth approximately $120,000. JNBA Financial Advisors boosted its position in shares of Apache Corp. by 99.1% in the second quarter. JNBA Financial Advisors now owns 2,578 shares of the energy company’s stock worth $144,000 after buying an additional 1,283 shares during the last quarter. Sabal Trust CO acquired a new position in shares of Apache Corp. during the second quarter worth approximately $202,000. Finally, First Niagara Bank acquired a new position in shares of Apache Corp. during the second quarter worth approximately $208,000. 91.18% of the stock is owned by institutional investors.
Apache Corp. (NYSE:APA) traded down 1.59% during mid-day trading on Friday, hitting $60.72. 3,640,812 shares of the stock traded hands. The stock’s market cap is $23.04 billion. The company has a 50 day moving average of $61.48 and a 200-day moving average of $55.96. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The firm’s revenue for the quarter was down 38.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. Equities research analysts forecast that Apache Corp. will post ($0.77) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.65%. Apache Corp.’s dividend payout ratio (DPR) is -2.78%.
A number of equities analysts have commented on APA shares. Wells Fargo & Co. reissued an “outperform” rating on shares of Apache Corp. in a research note on Wednesday, July 6th. Jefferies Group reissued a “sell” rating on shares of Apache Corp. in a research note on Thursday, August 4th. Barclays PLC cut shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $45.00 to $49.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Citigroup Inc. cut shares of Apache Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $53.00 in a research note on Tuesday, August 9th. They noted that the move was a valuation call. Finally, Vetr raised shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $59.04.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the sale, the insider now owns 12,755 shares of the company’s stock, valued at $777,289.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.
Apache Corp. Company Profile
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).