CENTRAL TRUST Co cut its position in Apache Co. (NYSE:APA) by 58.3% in the fourth quarter, HoldingsChannel reports. The firm owned 8,803 shares of the energy company’s stock after selling 12,326 shares during the quarter. CENTRAL TRUST Co’s holdings in Apache were worth $231,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation purchased a new stake in shares of Apache in the third quarter worth $103,000. Field & Main Bank purchased a new stake in shares of Apache in the third quarter worth $120,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Apache in the third quarter worth $205,000. Rand Wealth LLC purchased a new stake in shares of Apache in the third quarter worth $209,000. Finally, Mutual Advisors LLC purchased a new position in Apache during the second quarter valued at $208,000. 96.07% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on APA. Zacks Investment Research raised shares of Apache from a “sell” rating to a “hold” rating in a research note on Friday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 target price on shares of Apache in a research note on Wednesday. Royal Bank of Canada reaffirmed a “hold” rating and set a $39.00 target price on shares of Apache in a research note on Monday, January 7th. ValuEngine cut shares of Apache from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 2nd. Finally, Raymond James set a $51.00 target price on shares of Apache and gave the company a “buy” rating in a research note on Sunday, December 30th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.64.
Shares of NYSE:APA opened at $31.10 on Friday. Apache Co. has a 52 week low of $24.56 and a 52 week high of $50.03. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 129.58, a price-to-earnings-growth ratio of 3.77 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.26 and a quick ratio of 1.10.
Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company posted $0.04 EPS. The business’s revenue was up 25.9% on a year-over-year basis. As a group, research analysts expect that Apache Co. will post 1.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Tuesday, January 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.22%. Apache’s payout ratio is currently 416.67%.
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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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