Hallmark Capital Management Inc. Grows Stake in Apache Corporation (APA)

Hallmark Capital Management Inc. increased its position in shares of Apache Corporation (NYSE:APA) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 291,687 shares of the energy company’s stock after purchasing an additional 12,865 shares during the period. Hallmark Capital Management Inc. owned about 0.08% of Apache Corporation worth $13,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APA. Thrivent Financial For Lutherans increased its position in shares of Apache Corporation by 6.7% during the first quarter. Thrivent Financial For Lutherans now owns 14,020 shares of the energy company’s stock valued at $720,000 after purchasing an additional 880 shares during the period. TVR Capital Management LP increased its position in shares of Apache Corporation by 279.6% during the first quarter. TVR Capital Management LP now owns 172,705 shares of the energy company’s stock valued at $8,875,000 after purchasing an additional 127,205 shares during the period. State Street Corp increased its position in shares of Apache Corporation by 0.7% during the first quarter. State Street Corp now owns 19,938,329 shares of the energy company’s stock valued at $1,024,633,000 after purchasing an additional 146,990 shares during the period. Peconic Partners LLC increased its position in shares of Apache Corporation by 1.8% during the first quarter. Peconic Partners LLC now owns 1,119,200 shares of the energy company’s stock valued at $57,516,000 after purchasing an additional 20,000 shares during the period. Finally, Gotham Asset Management LLC bought a new stake in shares of Apache Corporation during the first quarter valued at approximately $2,346,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

APA has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Apache Corporation from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Scotiabank set a $52.00 price target on Apache Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Stifel Nicolaus initiated coverage on Apache Corporation in a research report on Tuesday, July 4th. They issued a “hold” rating and a $54.00 price target on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $55.00 price target on shares of Apache Corporation in a research report on Thursday, July 20th. Finally, Cowen and Company set a $50.00 price target on Apache Corporation and gave the company a “hold” rating in a research report on Tuesday, July 18th. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Apache Corporation currently has an average rating of “Hold” and a consensus target price of $48.88.

Shares of Apache Corporation (APA) traded up 2.163% during mid-day trading on Wednesday, hitting $42.265. The stock had a trading volume of 1,545,339 shares. Apache Corporation has a 52 week low of $38.14 and a 52 week high of $69.00. The firm’s market cap is $16.10 billion. The stock has a 50 day moving average price of $42.93 and a 200 day moving average price of $45.63.

Apache Corporation (NYSE:APA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the business posted ($0.26) EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts expect that Apache Corporation will post $0.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. Apache Corporation’s payout ratio is -4,997.50%.

In other Apache Corporation news, Director George D. Lawrence purchased 900 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the purchase, the director now owns 38,445 shares in the company, valued at approximately $1,633,528.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John E. Lowe purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was acquired at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. In the last quarter, insiders bought 5,500 shares of company stock worth $235,094. Corporate insiders own 0.48% of the company’s stock.

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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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

Institutional Ownership by Quarter for Apache Corporation (NYSE:APA)

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