AlphaCrest Capital Management LLC Takes Position in Apache Co. (NYSE:APA)

AlphaCrest Capital Management LLC purchased a new stake in shares of Apache Co. (NYSE:APA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,432 shares of the energy company’s stock, valued at approximately $743,000.

Several other institutional investors and hedge funds also recently made changes to their positions in APA. Capital Investment Advisory Services LLC acquired a new stake in shares of Apache during the fourth quarter worth approximately $29,000. Truehand Inc acquired a new stake in shares of Apache during the fourth quarter worth approximately $38,000. Oregon Public Employees Retirement Fund grew its stake in shares of Apache by 2,492.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,087,958 shares of the energy company’s stock valued at $41,000 after purchasing an additional 1,045,998 shares during the last quarter. Rational Advisors LLC grew its stake in shares of Apache by 12,875.0% during the fourth quarter. Rational Advisors LLC now owns 1,557 shares of the energy company’s stock valued at $41,000 after purchasing an additional 1,545 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Apache by 66.1% during the first quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock valued at $44,000 after purchasing an additional 508 shares during the last quarter. 96.46% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. Seaport Global Securities reissued a “neutral” rating on shares of Apache in a research note on Friday, June 21st. Morgan Stanley set a $19.00 price target on shares of Apache and gave the company a “sell” rating in a research note on Monday, June 24th. Wolfe Research raised shares of Apache from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 3rd. Zacks Investment Research raised shares of Apache from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, May 20th. Finally, BMO Capital Markets raised their price objective on shares of Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Apache currently has a consensus rating of “Hold” and a consensus price target of $40.48.

In other news, EVP William Mark Meyer bought 2,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $25.92 per share, for a total transaction of $51,840.00. Following the transaction, the executive vice president now owns 2,919 shares of the company’s stock, valued at $75,660.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John E. Lowe bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $30.25 per share, with a total value of $151,250.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $756,250. The disclosure for this purchase can be found here. Insiders acquired a total of 10,500 shares of company stock valued at $298,500 in the last three months. Insiders own 0.69% of the company’s stock.

Shares of APA stock traded up $0.23 during midday trading on Monday, hitting $29.20. 3,567,510 shares of the company were exchanged, compared to its average volume of 4,309,729. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 4.83 and a beta of 1.79. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average price of $28.73. Apache Co. has a 52 week low of $24.56 and a 52 week high of $50.03.

Apache (NYSE:APA) last announced its earnings results on Wednesday, May 1st. The energy company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Apache had a negative net margin of 2.08% and a positive return on equity of 6.71%. Apache’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts predict that Apache Co. will post 1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, July 19th. Apache’s dividend payout ratio is currently 56.50%.

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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