Fairbanks Capital Management Inc. grew its position in Apache Co. (NYSE:APA) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,666 shares of the energy company’s stock after buying an additional 2,604 shares during the period. Apache makes up 1.8% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 16th largest position. Fairbanks Capital Management Inc.’s holdings in Apache were worth $1,862,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Dodge & Cox lifted its position in Apache by 4.0% in the 2nd quarter. Dodge & Cox now owns 29,922,731 shares of the energy company’s stock valued at $1,434,196,000 after acquiring an additional 1,152,395 shares in the last quarter. Vanguard Group Inc. lifted its position in Apache by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,448,494 shares of the energy company’s stock worth $1,267,676,000 after buying an additional 128,836 shares in the last quarter. State Street Corp lifted its position in Apache by 0.7% during the 2nd quarter. State Street Corp now owns 20,068,849 shares of the energy company’s stock worth $961,903,000 after buying an additional 130,520 shares in the last quarter. Harris Associates L P lifted its position in Apache by 14.3% during the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after buying an additional 2,343,985 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Apache by 2.7% in the 2nd quarter. FMR LLC now owns 15,112,873 shares of the energy company’s stock valued at $724,360,000 after purchasing an additional 404,098 shares during the period. 94.69% of the stock is owned by institutional investors.
In other Apache news, insider P Anthony Lannie sold 19,514 shares of the 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 transaction, the insider now owns 37,469 shares in the company, valued at approximately $1,650,134.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Scotiabank reaffirmed a “hold” rating and issued a $49.00 target price on shares of Apache in a report on Tuesday, October 10th. Zacks Investment Research cut shares of Apache from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Jefferies Group reiterated an “underperform” rating and issued a $38.00 price target on shares of Apache in a research note on Tuesday, October 10th. Stifel Nicolaus set a $42.00 price target on shares of Apache and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $55.00 price target on shares of Apache in a research note on Tuesday, November 7th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $48.06.
Apache Co. (NYSE:APA) opened at $40.70 on Monday. Apache Co. has a 52-week low of $38.14 and a 52-week high of $69.00. The company has a current ratio of 1.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95.
Apache (NYSE:APA) last announced its earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.09. Apache had a net margin of 10.60% and a negative return on equity of 0.70%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue was down 3.5% compared to the same quarter last year. equities research analysts expect that Apache Co. will post 0.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. Apache’s payout ratio is presently 57.47%.
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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