Westbourne Investment Advisors Inc. reduced its stake in shares of Apache Co. (NYSE:APA) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,670 shares of the energy company’s stock after selling 4,000 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Apache were worth $890,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of APA. Capital Investment Advisory Services LLC acquired a new stake in Apache during the fourth quarter worth about $29,000. Heritage Trust Co lifted its position in Apache by 704.4% during the fourth quarter. Heritage Trust Co now owns 1,448 shares of the energy company’s stock worth $38,000 after buying an additional 1,268 shares in the last quarter. Truehand Inc purchased a new position in Apache during the fourth quarter worth approximately $38,000. Rational Advisors LLC increased its stake in Apache by 12,875.0% during the fourth quarter. Rational Advisors LLC now owns 1,557 shares of the energy company’s stock worth $41,000 after acquiring an additional 1,545 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in 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 worth $41,000 after acquiring an additional 1,045,998 shares during the last quarter. 99.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE APA traded down $0.03 during trading on Monday, reaching $36.47. The stock had a trading volume of 164,707 shares, compared to its average volume of 3,678,823. Apache Co. has a fifty-two week low of $24.56 and a fifty-two week high of $50.03. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $13.72 billion, a PE ratio of 20.59, a PEG ratio of 6.14 and a beta of 1.76.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, April 18th. Apache’s payout ratio is 56.50%.
APA has been the subject of several recent analyst reports. Raymond James set a $51.00 target price on Apache and gave the stock a “buy” rating in a research note on Sunday, December 30th. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, April 9th. Piper Jaffray Companies reissued a “hold” rating and set a $35.00 target price on shares of Apache in a research note on Wednesday, January 9th. Royal Bank of Canada reissued a “hold” rating and set a $39.00 target price on shares of Apache in a research note on Monday, January 7th. Finally, Seaport Global Securities reissued a “hold” rating on shares of Apache in a research note on Wednesday, January 30th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. Apache presently has a consensus rating of “Hold” and an average price target of $41.82.
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.
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