TD Asset Management Inc. Sells 6,556 Shares of Apache Co. (APA)

TD Asset Management Inc. cut its holdings in Apache Co. (NYSE:APA) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,978 shares of the energy company’s stock after selling 6,556 shares during the period. TD Asset Management Inc.’s holdings in Apache were worth $5,678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hanson McClain Inc. bought a new position in Apache in the second quarter worth approximately $106,000. Gs Investments Inc. bought a new position in Apache in the second quarter worth approximately $149,000. Bronfman E.L. Rothschild L.P. raised its position in Apache by 410.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after acquiring an additional 2,923 shares during the period. Dupont Capital Management Corp bought a new position in Apache in the second quarter worth approximately $200,000. Finally, North Star Asset Management Inc. bought a new position in Apache in the third quarter worth approximately $206,000. Institutional investors and hedge funds own 94.55% of the company’s stock.

Several research analysts have weighed in on APA shares. Morgan Stanley increased their price target on shares of Apache from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Scotiabank set a $49.00 price target on shares of Apache and gave the stock a “hold” rating in a research report on Monday, November 13th. Bank of America increased their price target on shares of Apache from $41.00 to $42.00 and gave the stock an “underperform” rating in a research report on Monday, November 6th. BMO Capital Markets set a $45.00 price target on shares of Apache and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, J P Morgan Chase & Co downgraded shares of Apache from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $46.00 to $38.00 in a research report on Thursday, September 14th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $48.06.

In related news, insider P Anthony Lannie sold 19,514 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the transaction, the insider now directly owns 37,469 shares of the company’s stock, valued at $1,650,134.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Shares of Apache Co. (APA) opened at $42.15 on Wednesday. Apache Co. has a 52-week low of $38.14 and a 52-week high of $69.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 1.53.

Apache (NYSE:APA) last announced its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. Apache had a net margin of 10.60% and a negative return on equity of 0.70%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned ($0.03) EPS. sell-side analysts expect that Apache Co. will post 0.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd were paid a dividend of $0.25 per share. The ex-dividend date was Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.37%. Apache’s payout ratio is 57.47%.

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Apache Company Profile

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.

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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