Virginia Retirement Systems ET AL trimmed its position in Apache Co. (NYSE:APA) by 14.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 169,300 shares of the energy company’s stock after selling 29,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Apache were worth $8,071,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of APA. Commonwealth Equity Services LLC boosted its stake in Apache by 24.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 126,130 shares of the energy company’s stock valued at $5,897,000 after purchasing an additional 24,836 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Apache during the 2nd quarter valued at about $366,000. Investec Asset Management LTD acquired a new position in Apache during the 2nd quarter valued at about $9,009,000. Argent Trust Co boosted its stake in shares of Apache by 365.5% in the 2nd quarter. Argent Trust Co now owns 33,934 shares of the energy company’s stock worth $1,586,000 after buying an additional 26,644 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in shares of Apache by 29.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 174,116 shares of the energy company’s stock worth $8,300,000 after buying an additional 39,116 shares during the last quarter. 96.62% of the stock is owned by institutional investors and hedge funds.
In other news, insider Stephen J. Riney acquired 6,300 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were acquired at an average price of $43.51 per share, for a total transaction of $274,113.00. Following the completion of the purchase, the insider now owns 42,184 shares in the company, valued at $1,835,425.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dominic Ricotta sold 3,480 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $43.72, for a total value of $152,145.60. Following the completion of the transaction, the vice president now owns 10,357 shares in the company, valued at approximately $452,808.04. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.
Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.47 by $0.16. Apache had a return on equity of 7.71% and a net margin of 12.11%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business earned $0.04 earnings per share. Apache’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, analysts predict that Apache Co. will post 1.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 2.70%. Apache’s payout ratio is 416.67%.
APA has been the topic of a number of research analyst reports. Stephens set a $55.00 target price on Apache and gave the stock a “buy” rating in a research note on Monday, September 24th. Mizuho restated a “hold” rating and issued a $47.00 target price on shares of Apache in a research note on Monday, October 22nd. Stifel Nicolaus restated a “hold” rating and issued a $49.00 target price on shares of Apache in a research note on Wednesday, October 24th. Morgan Stanley set a $43.00 target price on Apache and gave the stock a “sell” rating in a research note on Friday, October 12th. Finally, Mitsubishi UFJ Financial Group boosted their target price on Apache to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $47.37.
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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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