Westbourne Investment Advisors Inc. reduced its stake in shares of Apache Corporation (NYSE:APA) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 36,960 shares of the energy company’s stock after selling 75 shares during the period. Apache Corporation comprises about 1.4% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 22nd largest position. Westbourne Investment Advisors Inc.’s holdings in Apache Corporation were worth $1,771,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bank purchased a new stake in Apache Corporation during the first quarter valued at approximately $100,000. Invictus RG bought a new stake in shares of Apache Corporation during the first quarter worth about $100,000. Thompson Davis & CO. Inc. boosted its stake in shares of Apache Corporation 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 in the last quarter. Parallel Advisors LLC boosted its stake in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Apache Corporation during the first quarter worth about $135,000. Hedge funds and other institutional investors own 94.04% of the company’s stock.
Shares of Apache Corporation (NYSE:APA) traded down 0.52% during trading on Friday, hitting $42.39. The stock had a trading volume of 2,505,997 shares. The company’s market capitalization is $16.15 billion. Apache Corporation has a 52 week low of $42.17 and a 52 week high of $69.00. The firm has a 50-day moving average price of $47.14 and a 200 day moving average price of $50.57.
Apache Corporation (NYSE:APA) last released its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted ($0.26) EPS. Equities analysts anticipate that Apache Corporation will post $0.13 earnings per share for the current year.
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A number of brokerages have recently issued reports on APA. Jefferies Group LLC reiterated a “sell” rating and set a $40.00 price objective on shares of Apache Corporation in a research note on Wednesday, May 17th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price objective on shares of Apache Corporation in a research note on Monday, May 15th. Barclays PLC reiterated a “sell” rating and set a $41.00 price objective (down previously from $50.00) on shares of Apache Corporation in a research note on Thursday, April 20th. Zacks Investment Research cut Apache Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $55.00 target price on shares of Apache Corporation in a report on Thursday, July 20th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $56.39.
In other news, Director Rene R. Joyce bought 10,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was purchased at an average price of $51.38 per share, with a total value of $513,800.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $513,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John E. Lowe bought 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $44.90 per share, with a total value of $112,250.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. Corporate 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.
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