Prudential PLC Has $160.56 Million Holdings in Apache Corporation (APA)
Prudential PLC raised its stake in Apache Corporation (NYSE:APA) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,349,800 shares of the energy company’s stock after buying an additional 302,100 shares during the period. Prudential PLC owned about 0.88% of Apache Corporation worth $160,556,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Apache Corporation by 3,551.6% during the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock worth $1,490,509,000 after acquiring an additional 28,209,565 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Apache Corporation by 658.0% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock worth $355,991,000 after acquiring an additional 6,447,400 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Apache Corporation by 58.0% in the second quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock worth $595,767,000 after acquiring an additional 4,561,430 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Apache Corporation by 155.6% in the first quarter. JPMorgan Chase & Co. now owns 4,967,031 shares of the energy company’s stock worth $255,258,000 after acquiring an additional 3,023,533 shares during the period. Finally, Harris Associates L P lifted its stake in shares of Apache Corporation by 14.3% in the second quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after acquiring an additional 2,343,985 shares during the period. Hedge funds and other institutional investors own 95.00% of the company’s stock.
In other Apache Corporation news, Director John E. Lowe bought 2,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the completion of the acquisition, the director now owns 12,000 shares of the company’s stock, valued at $483,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John E. Lowe bought 2,500 shares of the stock in a transaction dated Monday, August 7th. The shares were acquired at an average price of $44.90 per share, with a total value of $112,250.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. Insiders have purchased 5,500 shares of company stock worth $235,094 in the last three months. 0.48% of the stock is currently owned by insiders.
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Shares of Apache Corporation (NYSE APA) traded up 0.29% during mid-day trading on Wednesday, reaching $45.57. 882,735 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $41.66 and a 200 day moving average of $46.98. Apache Corporation has a one year low of $38.14 and a one year high of $69.00. The firm’s market capitalization is $17.36 billion.
Apache Corporation (NYSE:APA) last released its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.22). The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) earnings per share. On average, analysts forecast that Apache Corporation will post $0.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s payout ratio is currently -4,997.50%.
Several research firms have issued reports on APA. Scotiabank set a $50.00 price target on shares of Apache Corporation and gave the stock a “hold” rating in a report on Saturday, July 1st. BidaskClub lowered shares of Apache Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Citigroup Inc. reduced their price objective on shares of Apache Corporation from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 15th. BMO Capital Markets set a $45.00 price objective on shares of Apache Corporation and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Apache Corporation in a research report on Thursday, September 21st. Nine analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.59.
Apache Corporation Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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