Apache Co. (APA) Position Reduced by Shell Asset Management Co.

Shell Asset Management Co. decreased its position in shares of Apache Co. (NYSE:APA) by 14.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 28,658 shares of the energy company’s stock after selling 4,933 shares during the quarter. Shell Asset Management Co.’s holdings in Apache were worth $1,366,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APA. Zions Bancorporation purchased a new position in Apache during the 3rd quarter worth approximately $103,000. Field & Main Bank acquired a new stake in shares of Apache in the 3rd quarter valued at $120,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Apache in the 3rd quarter valued at $205,000. Wesbanco Bank Inc. acquired a new stake in shares of Apache in the 2nd quarter valued at $207,000. Finally, Mutual Advisors LLC acquired a new position in Apache during the 2nd quarter worth $208,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of APA stock opened at $36.49 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90. Apache Co. has a 12-month low of $33.60 and a 12-month high of $50.03. The firm has a market cap of $13.33 billion, a PE ratio of 152.04, a P/E/G ratio of 2.53 and a beta of 1.33.

Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The firm’s revenue was up 25.9% compared to the same quarter last year. On average, research analysts anticipate that Apache Co. will post 1.98 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, October 19th. Apache’s dividend payout ratio is 416.67%.

In other news, insider Rebecca A. Hoyt sold 6,111 shares of the stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $47.48, for a total transaction of $290,150.28. Following the completion of the sale, the insider now owns 30,548 shares of the company’s stock, valued at $1,450,419.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by corporate insiders.

Several research firms have recently issued reports on APA. Cowen began coverage on shares of Apache in a report on Thursday, November 29th. They set a “market perform” rating on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price objective on shares of Apache in a research note on Monday, November 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $37.00 price objective on shares of Apache in a research note on Tuesday, November 13th. Citigroup reiterated a “neutral” rating and set a $42.00 target price (down from $44.00) on shares of Apache in a research report on Tuesday, November 20th. Finally, TheStreet lowered shares of Apache from a “b-” rating to a “c” rating in a research report on Thursday, September 13th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.52.

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Apache Profile

Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

Further Reading: What is systematic risk?

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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