Wetherby Asset Management Inc. Boosts Holdings in Apache Co. (NYSE:APA)

Wetherby Asset Management Inc. grew its holdings in shares of Apache Co. (NYSE:APA) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,489 shares of the energy company’s stock after acquiring an additional 848 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Apache were worth $304,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Merchants Corp boosted its holdings in Apache by 4.0% in the second quarter. First Merchants Corp now owns 35,276 shares of the energy company’s stock valued at $1,021,000 after acquiring an additional 1,356 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Apache by 196.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 192,634 shares of the energy company’s stock valued at $5,581,000 after acquiring an additional 127,700 shares in the last quarter. Arizona State Retirement System boosted its holdings in Apache by 1.8% in the second quarter. Arizona State Retirement System now owns 233,701 shares of the energy company’s stock valued at $6,770,000 after acquiring an additional 4,029 shares in the last quarter. Zeke Capital Advisors LLC boosted its holdings in Apache by 17.0% in the second quarter. Zeke Capital Advisors LLC now owns 47,187 shares of the energy company’s stock valued at $1,367,000 after acquiring an additional 6,850 shares in the last quarter. Finally, Sicart Associates LLC boosted its holdings in Apache by 16.2% in the second quarter. Sicart Associates LLC now owns 157,060 shares of the energy company’s stock valued at $4,550,000 after acquiring an additional 21,935 shares in the last quarter. 96.38% of the stock is currently owned by hedge funds and other institutional investors.

In other Apache news, Director John E. Lowe bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $21.83 per share, with a total value of $109,150.00. Following the transaction, the director now owns 30,000 shares in the company, valued at $654,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William Mark Meyer bought 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was acquired at an average cost of $25.92 per share, with a total value of $51,840.00. Following the transaction, the executive vice president now owns 2,919 shares in the company, valued at approximately $75,660.48. The disclosure for this purchase can be found here. In the last three months, insiders acquired 10,500 shares of company stock valued at $256,400. 0.69% of the stock is owned by insiders.

Several research firms recently weighed in on APA. Wolfe Research upgraded shares of Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, May 20th. Morgan Stanley cut their price target on shares of Apache from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Bank of America dropped their target price on shares of Apache from $30.00 to $29.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Finally, ValuEngine upgraded shares of Apache from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $38.11.

Apache stock traded down $0.48 during mid-day trading on Friday, reaching $21.97. The stock had a trading volume of 3,152,990 shares, compared to its average volume of 5,369,870. The firm has a market cap of $8.27 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 8.79 and a beta of 1.80. The company’s 50-day moving average price is $25.86. Apache Co. has a one year low of $21.44 and a one year high of $50.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 1.03.

Apache (NYSE:APA) last issued its earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. On average, analysts forecast that Apache Co. will post 0.42 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Friday, July 19th. Apache’s dividend payout ratio (DPR) is 56.50%.

About Apache

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.

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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