New Jersey Better Educational Savings Trust reduced its position in shares of Apache Co. (NYSE:APA) by 21.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,000 shares of the energy company’s stock after selling 3,000 shares during the quarter. New Jersey Better Educational Savings Trust’s holdings in Apache were worth $514,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in Apache by 575.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock valued at $104,000 after purchasing an additional 1,892 shares during the period. Fairfield Bush & CO. acquired a new stake in Apache during the 1st quarter valued at $135,000. Rampart Investment Management Company LLC acquired a new stake in Apache during the 1st quarter valued at $158,000. Piedmont Investment Advisors LLC acquired a new stake in Apache during the 2nd quarter valued at $209,000. Finally, Cedar Wealth Management LLC raised its stake in Apache by 189.4% during the 1st quarter. Cedar Wealth Management LLC now owns 5,453 shares of the energy company’s stock valued at $210,000 after purchasing an additional 3,569 shares during the period. 98.43% of the stock is currently owned by institutional investors.
APA has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Apache from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Morgan Stanley initiated coverage on shares of Apache in a research note on Thursday, July 12th. They issued an “underweight” rating and a $42.00 price target on the stock. Cowen set a $48.00 price target on shares of Apache and gave the stock a “hold” rating in a research note on Thursday, July 19th. Stifel Nicolaus set a $46.00 price target on shares of Apache and gave the stock a “hold” rating in a research note on Thursday, July 19th. Finally, Mizuho initiated coverage on shares of Apache in a research note on Monday, July 23rd. They issued a “neutral” rating and a $55.00 price target on the stock. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.13.
In other Apache news, Director John E. Lowe acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The stock was purchased at an average cost of $38.35 per share, for a total transaction of $95,875.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $767,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.
Shares of NYSE APA traded up $1.04 during mid-day trading on Monday, reaching $46.05. The company had a trading volume of 133,708 shares, compared to its average volume of 2,702,902. Apache Co. has a twelve month low of $33.60 and a twelve month high of $51.21. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $17.20 billion, a PE ratio of 192.08, a price-to-earnings-growth ratio of 4.11 and a beta of 1.06.
Apache (NYSE:APA) last posted its quarterly earnings results on Wednesday, May 2nd. The energy company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.65 billion. Apache had a net margin of 19.67% and a return on equity of 2.16%. During the same period in the prior year, the business posted $0.08 earnings per share. analysts predict that Apache Co. will post 1.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Monday, July 23rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, July 20th. Apache’s dividend payout ratio is presently 416.67%.
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 Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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