Northern Trust Corp trimmed its holdings in shares of Apache Co. (NYSE:APA) by 6.7% in the second quarter, Holdings Channel reports. The institutional investor owned 4,528,899 shares of the energy company’s stock after selling 327,051 shares during the period. Northern Trust Corp’s holdings in Apache were worth $131,202,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in APA. Geode Capital Management LLC raised its stake in Apache by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 4,866,739 shares of the energy company’s stock valued at $127,525,000 after acquiring an additional 340,044 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Apache by 1.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,612,432 shares of the energy company’s stock valued at $75,683,000 after acquiring an additional 39,854 shares during the last quarter. New York State Common Retirement Fund raised its stake in Apache by 28.0% during the 1st quarter. New York State Common Retirement Fund now owns 1,617,156 shares of the energy company’s stock valued at $56,051,000 after acquiring an additional 353,550 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Apache by 1.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,518,352 shares of the energy company’s stock valued at $43,486,000 after acquiring an additional 23,787 shares during the last quarter. Finally, Swiss National Bank raised its stake in Apache by 1.9% during the 1st quarter. Swiss National Bank now owns 1,267,632 shares of the energy company’s stock valued at $43,936,000 after acquiring an additional 23,400 shares during the last quarter. 95.30% of the stock is owned by institutional investors.
In other news, Director John E. Lowe purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $21.83 per share, for a total transaction of $109,150.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $654,900. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.
Shares of APA traded up $0.26 on Friday, reaching $24.10. The stock had a trading volume of 97,038 shares, compared to its average volume of 4,616,095. The firm has a market capitalization of $9.17 billion, a PE ratio of 13.57, a PEG ratio of 16.53 and a beta of 1.84. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average of $22.32 and a 200 day moving average of $28.85. Apache Co. has a twelve month low of $19.44 and a twelve month high of $50.03.
Apache (NYSE:APA) last released its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. On average, sell-side analysts anticipate that Apache Co. will post 0.24 earnings per share for the current fiscal year.
APA has been the subject of several analyst reports. Seaport Global Securities reaffirmed a “neutral” rating on shares of Apache in a research note on Friday, June 21st. Morgan Stanley dropped their target price on Apache from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, July 12th. Citigroup dropped their target price on Apache from $35.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. Wolfe Research upgraded Apache from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 3rd. Finally, ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Apache has an average rating of “Hold” and a consensus target price of $35.61.
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.
Read More: Certificate of Deposit (CD)
Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apache Co. (NYSE:APA).
Receive News & Ratings for Apache Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache and related companies with MarketBeat.com's FREE daily email newsletter.