Bridges Investment Management Inc. lowered its position in shares of Apache Corporation (NYSE:APA) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,460 shares of the energy company’s stock after selling 1,754 shares during the period. Bridges Investment Management Inc.’s holdings in Apache Corporation were worth $1,172,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Burke & Herbert Bank & Trust Co. increased its stake in shares of Apache Corporation by 24.2% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 4,100 shares of the energy company’s stock worth $211,000 after buying an additional 800 shares during the last quarter. Creative Planning increased its stake in shares of Apache Corporation by 11.2% in the first quarter. Creative Planning now owns 28,168 shares of the energy company’s stock worth $1,448,000 after buying an additional 2,831 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Apache Corporation during the first quarter worth approximately $4,004,000. Fulton Bank N.A. acquired a new stake in shares of Apache Corporation during the first quarter worth approximately $527,000. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Apache Corporation by 7.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 459,960 shares of the energy company’s stock worth $23,637,000 after buying an additional 32,289 shares during the last quarter. 93.72% of the stock is owned by institutional investors.
Apache Corporation (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 capitalization is $15.36 billion. The firm 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) earnings per share for the quarter, missing the 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 return on equity of 1.03% and a negative net margin of 0.07%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.26) EPS. Analysts expect that Apache Corporation will post $0.09 EPS for the current fiscal year.
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A number of brokerages recently commented on APA. Scotiabank reaffirmed a “hold” rating and set a $58.00 price target on shares of Apache Corporation in a research report on Monday, May 15th. 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. Bank of America Corporation reissued a “buy” rating and set a $57.00 price objective (down from $60.00) on shares of Apache Corporation in a report on Thursday, May 11th. Jefferies Group LLC reissued a “sell” rating and set a $40.00 price objective on shares of Apache Corporation in a report on Wednesday, May 17th. Finally, Zacks Investment Research raised Apache Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. Apache Corporation has an average rating of “Hold” and a consensus target price of $56.26.
In other news, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average price of $40.32 per share, with a total value of $80,640.00. Following the acquisition, the director now owns 12,000 shares of the company’s stock, valued at approximately $483,840. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George D. Lawrence bought 900 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $42.49 per share, with a total value of $38,241.00. Following the acquisition, the director now directly owns 38,445 shares in the company, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. Insiders purchased a total of 5,400 shares of company stock valued at $231,131 in the last ninety days. 0.48% of the stock is currently owned by insiders.
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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