Carret Asset Management LLC Lifted Holding in Apache Co. (APA)

Carret Asset Management LLC Lifted Holding in Apache Co. (APA)

Carret Asset Management LLC boosted its position in Apache Co. (NYSE:APA) by 13.9% during the first quarter, Holdings Channel reports. The firm owned 20,269 shares of the energy company’s stock after buying an additional 2,475 shares during the period. Carret Asset Management LLC’s holdings in Apache were worth $1,042,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in APA. Pinnacle Bank bought a new stake in shares of Apache during the first quarter worth $100,000. Thompson Davis & CO. Inc. raised its stake in shares of Apache by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock worth $103,000 after buying an additional 506 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Apache during the first quarter worth $135,000. Parallel Advisors LLC bought a new stake in shares of Apache during the fourth quarter worth $139,000. Finally, Spirit of America Management Corp NY raised its stake in shares of Apache by 50.0% in the first quarter. Spirit of America Management Corp NY now owns 3,000 shares of the energy company’s stock worth $154,000 after buying an additional 1,000 shares during the last quarter. 93.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Apache Co. (APA) traded down 0.66% on Friday, reaching $46.99. 4,254,665 shares of the company’s stock traded hands. The company’s market cap is $17.88 billion. The stock has a 50-day moving average price of $49.45 and a 200-day moving average price of $56.33. Apache Co. has a 12-month low of $46.09 and a 12-month high of $69.00.

Apache (NYSE:APA) last released its quarterly earnings results on Thursday, May 4th. The energy company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Apache had a negative net margin of 166.56% and a negative return on equity of 4.70%. During the same period in the previous year, the company posted ($0.40) earnings per share. Equities research analysts anticipate that Apache Co. will post $0.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, July 19th. Apache’s payout ratio is -4.42%.

A number of brokerages have recently weighed in on APA. Barclays PLC reaffirmed a “sell” rating and set a $41.00 target price (down previously from $50.00) on shares of Apache in a research note on Thursday, April 20th. Zacks Investment Research lowered shares of Apache from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of Apache in a research note on Monday, May 15th. Jefferies Group LLC reaffirmed a “sell” rating and set a $40.00 target price on shares of Apache in a research note on Wednesday, May 17th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $63.00 target price on shares of Apache in a research note on Tuesday, April 25th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Apache currently has an average rating of “Hold” and an average target price of $60.53.

In other news, Director Rene R. Joyce purchased 10,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $51.38 per share, with a total value of $513,800.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $513,800. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

About Apache

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “APA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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