The Gilder Gagnon Howe & Co. LLC Invests $124,773,000 in Apache Corp. (APA)

The Gilder Gagnon Howe & Co. LLC Invests $124,773,000 in Apache Corp. (APA)

Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Apache Corp. (NYSE:APA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,953,545 shares of the energy company’s stock, valued at approximately $124,773,000. Apache Corp. makes up about 2.1% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 7th largest position.

A number of other large investors also recently bought and sold shares of the stock. Zions Bancorporation boosted its stake in shares of Apache Corp. by 2.1% in the second quarter. Zions Bancorporation now owns 2,382 shares of the energy company’s stock valued at $132,000 after buying an additional 50 shares during the period. First Allied Advisory Services Inc. raised its position in Apache Corp. by 0.6% in the second quarter. First Allied Advisory Services Inc. now owns 14,294 shares of the energy company’s stock valued at $794,000 after buying an additional 88 shares in the last quarter. Allen Investment Management LLC raised its position in Apache Corp. by 0.6% in the second quarter. Allen Investment Management LLC now owns 15,643 shares of the energy company’s stock valued at $871,000 after buying an additional 101 shares in the last quarter. Gibraltar Capital Management Inc. raised its position in Apache Corp. by 1.1% in the third quarter. Gibraltar Capital Management Inc. now owns 9,954 shares of the energy company’s stock valued at $636,000 after buying an additional 106 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its position in Apache Corp. by 3.6% in the third quarter. Berkshire Asset Management LLC PA now owns 4,093 shares of the energy company’s stock valued at $261,000 after buying an additional 143 shares in the last quarter. 91.67% of the stock is currently owned by institutional investors and hedge funds.

Apache Corp. (NYSE:APA) opened at 62.91 on Thursday. The firm has a 50-day moving average of $65.14 and a 200 day moving average of $59.13. Apache Corp. has a 12 month low of $33.23 and a 12 month high of $69.00. The firm’s market capitalization is $23.87 billion.

Apache Corp. (NYSE:APA) last issued its quarterly earnings data on Thursday, November 3rd. The energy company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.13. The company earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Apache Corp. had a negative net margin of 166.56% and a negative return on equity of 4.70%. Apache Corp.’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Equities research analysts forecast that Apache Corp. will post ($0.96) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 22nd. Investors of record on Sunday, January 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, January 18th. This represents a $1.00 annualized dividend and a yield of 1.59%. Apache Corp.’s dividend payout ratio is currently -4.42%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Apache Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th. Morgan Stanley restated a “hold” rating and set a $69.00 price objective on shares of Apache Corp. in a research note on Monday, September 26th. Howard Weil lowered shares of Apache Corp. from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $70.00 to $71.00 in a research note on Thursday, December 15th. Jefferies Group restated a “sell” rating and set a $48.00 price objective on shares of Apache Corp. in a research note on Wednesday, October 19th. Finally, RBC Capital Markets restated a “hold” rating and set a $66.00 price objective on shares of Apache Corp. in a research note on Wednesday, January 4th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $60.21.

In other news, Director Chansoo Joung acquired 15,000 shares of Apache Corp. stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average price of $58.02 per share, with a total value of $870,300.00. Following the completion of the purchase, the director now owns 45,285 shares in the company, valued at $2,627,435.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John E. Lowe acquired 2,132 shares of Apache Corp. stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average cost of $57.65 per share, with a total value of $122,909.80. Following the purchase, the director now owns 7,500 shares of the company’s stock, valued at approximately $432,375. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

About Apache Corp.

Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).

Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apache Corp. (NYSE:APA).

Related posts

Leave a Comment