Northern Trust Corp Decreases Stock Position in Apache Co. (NYSE:APA)

Northern Trust Corp cut its holdings in Apache Co. (NYSE:APA) by 6.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,528,899 shares of the energy company’s stock after selling 327,051 shares during the quarter. Northern Trust Corp owned about 1.20% of Apache worth $131,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in APA. Packer & Co Ltd purchased a new stake in Apache in the second quarter valued at about $18,280,000. Carlson Capital L P purchased a new stake in Apache in the second quarter valued at about $15,919,000. State of Wisconsin Investment Board raised its stake in Apache by 430.7% in the first quarter. State of Wisconsin Investment Board now owns 509,135 shares of the energy company’s stock valued at $17,647,000 after buying an additional 413,193 shares during the last quarter. New York State Common Retirement Fund raised its stake in Apache by 28.0% in the first quarter. New York State Common Retirement Fund now owns 1,617,156 shares of the energy company’s stock valued at $56,051,000 after buying an additional 353,550 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Apache by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 4,866,739 shares of the energy company’s stock valued at $127,525,000 after buying an additional 340,044 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

In related news, Director John E. Lowe bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $21.83 per share, with a total value of $109,150.00. Following the completion of the acquisition, the director now directly owns 30,000 shares in the company, valued at $654,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by company insiders.

APA has been the subject of a number of research analyst reports. ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Stifel Nicolaus set a $29.00 price objective on Apache and gave the company a “hold” rating in a report on Monday, August 12th. Morgan Stanley cut their price objective on Apache from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Finally, Bank of America cut their price objective on Apache from $30.00 to $29.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $35.61.

Apache stock traded up $0.26 during midday trading on Friday, hitting $24.10. 97,038 shares of the company were exchanged, compared to its average volume of 4,616,095. The firm has a market capitalization of $9.17 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 16.53 and a beta of 1.84. Apache Co. has a fifty-two week low of $19.44 and a fifty-two week high of $50.03. The business has a fifty day simple moving average of $22.32 and a two-hundred day simple moving average of $28.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.03 and a current ratio of 1.23.

Apache (NYSE:APA) last posted its earnings results on Wednesday, July 31st. The energy company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. As a group, equities analysts expect that Apache Co. will post 0.24 earnings per share for the current year.

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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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Institutional Ownership by Quarter for Apache (NYSE:APA)

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