Mitchell Group Inc. Grows Stake in Apache Corporation (NYSE:APA)

Mitchell Group Inc. lifted its stake in shares of Apache Corporation (NYSE:APA) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 593,457 shares of the energy company’s stock after acquiring an additional 12,438 shares during the quarter. Apache Corporation makes up approximately 4.4% of Mitchell Group Inc.’s holdings, making the stock its 8th biggest holding. Mitchell Group Inc. owned about 0.16% of Apache Corporation worth $28,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. State of Tennessee Treasury Department increased its holdings in Apache Corporation by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 139,035 shares of the energy company’s stock valued at $6,664,000 after buying an additional 420 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Apache Corporation by 8.9% during the second quarter. Oppenheimer & Co. Inc. now owns 69,036 shares of the energy company’s stock valued at $3,309,000 after buying an additional 5,622 shares during the period. Westpac Banking Corp increased its holdings in Apache Corporation by 4.6% during the second quarter. Westpac Banking Corp now owns 158,502 shares of the energy company’s stock valued at $7,597,000 after buying an additional 6,900 shares during the period. Delta Lloyd Asset Management N.V. purchased a new position in Apache Corporation during the second quarter valued at approximately $4,990,000. Finally, Swiss National Bank increased its holdings in Apache Corporation by 3.2% during the second quarter. Swiss National Bank now owns 1,387,332 shares of the energy company’s stock valued at $66,495,000 after buying an additional 42,900 shares during the period. 95.05% of the stock is currently owned by institutional investors.

In other Apache Corporation news, Director John E. Lowe acquired 2,000 shares of Apache Corporation stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $40.32 per share, with a total value of $80,640.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $483,840. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $44.90 per share, with a total value of $112,250.00. Following the completion of the purchase, 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 acquired 5,500 shares of company stock valued at $235,094 in the last ninety days. Company insiders own 0.48% of the company’s stock.

Apache Corporation (NYSE APA) opened at 42.52 on Friday. The firm has a 50-day moving average of $41.94 and a 200-day moving average of $47.62. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00. The stock’s market cap is $16.20 billion.

Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.26) EPS. Equities analysts predict that Apache Corporation will post $0.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. Apache Corporation’s payout ratio is currently -4,997.50%.

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $55.00 target price on shares of Apache Corporation in a research note on Thursday, July 20th. Citigroup Inc. lowered their target price on shares of Apache Corporation from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Apache Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Seaport Global Securities downgraded shares of Apache Corporation from a “neutral” rating to a “sell” rating and lowered their target price for the company from $52.00 to $36.00 in a research note on Wednesday, June 21st. Finally, Cowen and Company set a $50.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Nine research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $53.16.

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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.

Institutional Ownership by Quarter for Apache Corporation (NYSE:APA)

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