Pegasus Partners Ltd. increased its stake in shares of Apache Co. (NYSE:APA) by 16.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,421 shares of the energy company’s stock after acquiring an additional 13,712 shares during the quarter. Apache comprises approximately 1.0% of Pegasus Partners Ltd.’s holdings, making the stock its 29th largest holding. Pegasus Partners Ltd.’s holdings in Apache were worth $4,370,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Hanson McClain Inc. bought a new stake in shares of Apache in the 2nd quarter worth about $106,000. Gs Investments Inc. bought a new stake in shares of Apache in the 2nd quarter worth about $149,000. Bronfman E.L. Rothschild L.P. lifted its position in Apache by 410.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after buying an additional 2,923 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Apache during the 2nd quarter worth about $200,000. Finally, Eagle Ridge Investment Management lifted its position in Apache by 13.0% during the 2nd quarter. Eagle Ridge Investment Management now owns 4,784 shares of the energy company’s stock worth $203,000 after buying an additional 550 shares in the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on APA. Scotiabank reiterated a “hold” rating and set a $49.00 price target on shares of Apache in a research report on Tuesday, October 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apache in a research report on Thursday, September 21st. Barclays upped their price target on shares of Apache from $26.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, November 20th. Citigroup cut their target price on shares of Apache from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 15th. Finally, Royal Bank Of Canada set a $55.00 target price on shares of Apache and gave the company a “hold” rating in a research report on Thursday, August 24th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $48.06.
In other news, insider P Anthony Lannie sold 19,514 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the transaction, the insider now directly owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.
Shares of Apache Co. (APA) opened at $42.15 on Wednesday. Apache Co. has a 52 week low of $38.14 and a 52 week high of $69.00. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.
Apache (NYSE:APA) last posted its earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Apache had a negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the business earned ($0.03) EPS. Apache’s revenue for the quarter was down 3.5% compared to the same quarter last year. equities research analysts anticipate that Apache Co. will post 0.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. Apache’s dividend payout ratio is currently 57.47%.
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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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