AQR Capital Management LLC Reduces Stake in Apache Corporation (NYSE:APA)

AQR Capital Management LLC lowered its stake in Apache Corporation (NYSE:APA) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,444 shares of the energy company’s stock after selling 2,871 shares during the period. AQR Capital Management LLC’s holdings in Apache Corporation were worth $2,849,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in APA. BlackRock Inc. raised 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 valued at $1,490,509,000 after buying an additional 28,209,565 shares during the last quarter. JPMorgan Chase & Co. raised 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 raised 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. raised 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, Morgan Stanley raised its position in Apache Corporation by 48.3% in the first quarter. Morgan Stanley now owns 2,515,450 shares of the energy company’s stock valued at $129,268,000 after buying an additional 818,762 shares during the last quarter. Institutional investors and hedge funds own 93.72% of the company’s stock.

Apache Corporation (NYSE:APA) traded up 1.05% during midday trading on Friday, reaching $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 cap is $15.36 billion. The company’s 50-day moving average is $46.31 and its 200 day moving average is $49.83.

Apache Corporation (NYSE:APA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by $0.22. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company posted ($0.26) earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts forecast that Apache Corporation will post $0.09 EPS for the current year.

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Several analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $63.00 price objective on shares of Apache Corporation in a research report on Tuesday, April 25th. Zacks Investment Research downgraded shares of Apache Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. BMO Capital Markets reissued a “hold” rating and set a $53.00 price target on shares of Apache Corporation in a research report on Friday, May 5th. Scotiabank reissued a “hold” rating and set a $58.00 price target on shares of Apache Corporation in a research report on Friday, May 5th. Finally, Bank of America Corporation restated a “buy” rating and set a $57.00 price objective (down from $60.00) on shares of Apache Corporation in a research note on Thursday, May 11th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. Apache Corporation currently has a consensus rating of “Hold” and an average price target of $56.26.

In other Apache Corporation news, Director John E. Lowe acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $44.90 per share, with a total value of $112,250.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John E. Lowe acquired 2,000 shares of the business’s 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 transaction, the director now owns 12,000 shares of the company’s stock, valued at $483,840. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 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.

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

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