Private Bank & Trust Co. boosted its stake in shares of Apache Corporation (NYSE:APA) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,135 shares of the energy company’s stock after buying an additional 1,235 shares during the period. Private Bank & Trust Co.’s holdings in Apache Corporation were worth $342,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its position in Apache Corporation by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,140 shares of the energy company’s stock worth $834,000 after buying an additional 690 shares during the period. Whalerock Point Partners LLC increased its position in Apache Corporation by 32.2% in the fourth quarter. Whalerock Point Partners LLC now owns 6,875 shares of the energy company’s stock worth $437,000 after buying an additional 1,675 shares during the period. Kentucky Retirement Systems bought a new position in Apache Corporation during the fourth quarter worth approximately $1,748,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Apache Corporation during the fourth quarter worth approximately $780,000. Finally, Macquarie Group Ltd. increased its position in Apache Corporation by 13.5% in the fourth quarter. Macquarie Group Ltd. now owns 11,800 shares of the energy company’s stock worth $749,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 94.04% of the company’s stock.
Shares of Apache Corporation (APA) traded down 0.52% on Friday, hitting $42.39. 2,505,997 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $47.14 and its 200 day moving average price is $50.57. Apache Corporation has a 1-year low of $42.17 and a 1-year high of $69.00. The company’s market cap is $16.15 billion.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned ($0.26) EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts expect that Apache Corporation will post $0.13 earnings per share for the current year.
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A number of research firms have commented on APA. BidaskClub downgraded shares of Apache Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. BMO Capital Markets set a $45.00 target price on shares of Apache Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Scotiabank set a $50.00 target price on shares of Apache Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Wells Fargo & Company reissued a “market perform” rating and set a $48.00 target price (down from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. Finally, Citigroup Inc. dropped their target price on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Eight analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. Apache Corporation presently has a consensus rating of “Hold” and an average price target of $56.39.
In related news, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were bought at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rene R. Joyce purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $51.38 per share, for a total transaction of $513,800.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $513,800. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.
About Apache Corporation
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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