Farmhouse Investment Management LLC raised its position in shares of Apache Corporation (NYSE:APA) by 33.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 372,500 shares of the energy company’s stock after buying an additional 93,250 shares during the period. Apache Corporation makes up 8.5% of Farmhouse Investment Management LLC’s holdings, making the stock its 3rd largest position. Farmhouse Investment Management LLC owned 0.10% of Apache Corporation worth $17,854,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Apache Corporation by 3,551.6% in the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock worth $1,490,509,000 after buying an additional 28,209,565 shares during the period. JPMorgan Chase & Co. increased its position in Apache Corporation by 155.6% in the first quarter. JPMorgan Chase & Co. now owns 4,967,031 shares of the energy company’s stock valued at $255,258,000 after buying an additional 3,023,533 shares during the last quarter. Harris Associates L P increased its position in Apache Corporation by 16.4% in the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock valued at $842,663,000 after buying an additional 2,307,915 shares during the last quarter. Ameriprise Financial Inc. increased its position in Apache Corporation by 156.5% in the first quarter. Ameriprise Financial Inc. now owns 1,578,266 shares of the energy company’s stock valued at $81,064,000 after buying an additional 962,883 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Apache Corporation during the first quarter valued at $48,518,000. Hedge funds and other institutional investors own 93.72% of the company’s stock.
Apache Corporation (NYSE:APA) traded up 1.05% during midday trading on Friday, hitting $40.31. The company had a trading volume of 3,046,453 shares. Apache Corporation has a 52 week low of $39.78 and a 52 week high of $69.00. The company’s market capitalization is $15.36 billion. The stock has a 50 day moving average price of $46.31 and a 200 day moving average price of $49.83.
Apache Corporation (NYSE:APA) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.26) EPS. Equities analysts forecast that Apache Corporation will post $0.09 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on APA. Jefferies Group LLC reiterated a “sell” rating and set a $40.00 price target on shares of Apache Corporation in a research note on Wednesday, May 17th. BMO Capital Markets reissued a “hold” rating and set a $53.00 price objective on shares of Apache Corporation in a report on Monday, May 15th. Zacks Investment Research cut Apache Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $55.00 price objective on shares of Apache Corporation in a report on Thursday, July 20th. Finally, Citigroup Inc. lowered their price target on Apache Corporation from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.26.
In other Apache Corporation news, Director John E. Lowe bought 2,000 shares of Apache Corporation stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $40.32 per share, with a total value 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George D. Lawrence bought 900 shares of Apache Corporation stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $42.49 per share, with a total value of $38,241.00. Following the completion of the acquisition, the director now directly owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 5,400 shares of company stock valued at $231,131. Insiders own 0.48% of the company’s stock.
About Apache Corporation
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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