Trade Report: Today: Traders Buy Apache Corp. (APA) on Weakness After Insider Selling

Today: Traders Buy Apache Corp. (APA) on Weakness After Insider Selling

Investors bought shares of Apache Corp. (NYSE:APA) on weakness during trading hours on Monday after an insider sold shares in the company. $45.23 million flowed into the stock on the tick-up and $23.99 million flowed out of the stock on the tick-down, for a money net flow of $21.24 million into the stock. Of all equities tracked, Apache Corp. had the 7th highest net in-flow for the day. Apache Corp. traded down ($0.81) for the day and closed at $62.84Specifically, Director Chansoo Joung acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were bought at an average price of $58.02 per share, for a total transaction of $870,300.00. Following the completion of the purchase, the director now directly owns 45,285 shares of the company’s stock, valued at approximately $2,627,435.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Rebecca A. Hoyt sold 3,356 shares of Apache Corp. stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total transaction of $204,514.64. Following the sale, the insider now owns 12,755 shares in the company, valued at approximately $777,289.70. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

APA has been the topic of a number of analyst reports. Atlantic Securities upgraded shares of Apache Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $70.00 in a research note on Monday, September 12th. Raymond James Financial Inc. lifted their price objective on shares of Apache Corp. from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, September 8th. Citigroup Inc. lowered shares of Apache Corp. from a “buy” rating to a “neutral” rating and dropped their price target 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. Zacks Investment Research upgraded shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Thursday, November 17th. Finally, Deutsche Bank AG lifted their price target on shares of Apache Corp. from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, September 8th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. Apache Corp. currently has a consensus rating of “Hold” and a consensus price target of $58.83.

The company has a 50 day moving average of $61.05 and a 200 day moving average of $56.78. The firm’s market cap is $23.28 billion.

Apache Corp. (NYSE:APA) last issued its earnings results on Thursday, November 3rd. The energy company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.13. The business earned $1.44 billion during the quarter, compared to analyst estimates of $1.38 billion. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. Apache Corp.’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, equities analysts anticipate that Apache Corp. will post ($1.00) EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were paid a $0.25 dividend. The ex-dividend date was Wednesday, October 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Apache Corp.’s payout ratio is -4.42%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in Apache Corp. by 36.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,780,475 shares of the energy company’s stock valued at $1,135,639,000 after buying an additional 4,765,205 shares in the last quarter. FIL Ltd bought a new position in Apache Corp. during the second quarter valued at about $227,262,000. Gilder Gagnon Howe & Co. LLC bought a new position in Apache Corp. during the third quarter valued at about $124,773,000. Vanguard Group Inc. raised its position in Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock valued at $1,369,769,000 after buying an additional 1,199,481 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC bought a new position in Apache Corp. during the third quarter valued at about $73,163,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

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