Manitou Investment Management Ltd. raised its holdings in Apache Co. (NYSE:APA) by 40.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,166,615 shares of the energy company’s stock after purchasing an additional 336,856 shares during the quarter. Apache accounts for about 7.2% of Manitou Investment Management Ltd.’s holdings, making the stock its 4th biggest position. Manitou Investment Management Ltd. owned approximately 0.31% of Apache worth $29,865,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in APA. Securian Asset Management Inc raised its position in shares of Apache by 1.1% during the 2nd quarter. Securian Asset Management Inc now owns 39,506 shares of the energy company’s stock worth $1,144,000 after purchasing an additional 426 shares during the last quarter. Buckingham Asset Management LLC raised its position in shares of Apache by 3.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 13,188 shares of the energy company’s stock worth $382,000 after purchasing an additional 469 shares during the last quarter. Bartlett & Co. LLC raised its position in shares of Apache by 56.2% during the 3rd quarter. Bartlett & Co. LLC now owns 1,390 shares of the energy company’s stock worth $36,000 after purchasing an additional 500 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Apache by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 175,313 shares of the energy company’s stock worth $5,079,000 after purchasing an additional 506 shares during the last quarter. Finally, CENTRAL TRUST Co raised its holdings in Apache by 6.1% in the 2nd quarter. CENTRAL TRUST Co now owns 8,878 shares of the energy company’s stock valued at $237,000 after acquiring an additional 510 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on the company. Bank of America upgraded Apache from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a report on Friday, October 18th. Citigroup boosted their price target on Apache from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. ValuEngine upgraded Apache from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on Apache from $17.00 to $15.00 and set an “underweight” rating for the company in a report on Friday, October 4th. Finally, Argus downgraded Apache from a “buy” rating to a “hold” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. Apache presently has a consensus rating of “Hold” and an average target price of $31.67.
Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, October 30th. The energy company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.10). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Apache had a positive return on equity of 1.08% and a negative net margin of 14.78%. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts predict that Apache Co. will post -0.09 EPS for the current fiscal year.
The company also recently disclosed a — dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, October 21st. This represents a dividend yield of 4.1%. Apache’s payout ratio is 56.50%.
Apache Company Profile
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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