Shelter Mutual Insurance Co Trims Stake in Apache Co. (NYSE:APA)

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Shelter Mutual Insurance Co reduced its stake in shares of Apache Co. (NYSE:APA) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,540 shares of the energy company’s stock after selling 10,960 shares during the quarter. Shelter Mutual Insurance Co’s holdings in Apache were worth $3,318,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Coastal Investment Advisors Inc. boosted its stake in shares of Apache by 6.6% in the second quarter. Coastal Investment Advisors Inc. now owns 8,331 shares of the energy company’s stock worth $243,000 after acquiring an additional 514 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Apache by 10.6% during the 2nd quarter. Wedbush Securities Inc. now owns 12,977 shares of the energy company’s stock worth $376,000 after buying an additional 1,245 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Apache by 22.1% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,176,740 shares of the energy company’s stock worth $34,090,000 after buying an additional 212,650 shares in the last quarter. CWM LLC raised its stake in shares of Apache by 212.0% during the 2nd quarter. CWM LLC now owns 8,434 shares of the energy company’s stock worth $244,000 after buying an additional 5,731 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Apache by 57.0% in the 2nd quarter. Janus Henderson Group PLC now owns 280,743 shares of the energy company’s stock valued at $8,133,000 after purchasing an additional 101,916 shares in the last quarter. Institutional investors own 96.42% of the company’s stock.

APA traded down $0.22 during trading on Thursday, reaching $19.86. The stock had a trading volume of 2,200,309 shares, compared to its average volume of 5,691,809. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 8.62 and a beta of 1.80. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. Apache Co. has a 1-year low of $20.08 and a 1-year high of $50.03. The stock has a 50 day simple moving average of $25.09.

Apache (NYSE:APA) last released its earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate 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 research analysts expect that Apache Co. will post 0.38 earnings per share for the current fiscal year.

The business also recently declared 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. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 annualized dividend and a dividend yield of 5.04%. Apache’s dividend payout ratio is currently 56.50%.

In other news, Director John E. Lowe bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $21.83 per share, with a total value of $109,150.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at $654,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Juliet S. Ellis bought 3,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $27.26 per share, for a total transaction of $95,410.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $95,410. The disclosure for this purchase can be found here. Insiders acquired 10,500 shares of company stock worth $256,400 in the last ninety days. 0.69% of the stock is owned by corporate insiders.

Several research firms have weighed in on APA. Stifel Nicolaus set a $29.00 price target on Apache and gave the stock a “hold” rating in a research report on Monday. Bank of America lowered their price objective on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. ValuEngine raised Apache from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Seaport Global Securities reissued a “neutral” rating on shares of Apache in a report on Friday, June 21st. Finally, Wolfe Research upgraded Apache from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 3rd. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Apache presently has a consensus rating of “Hold” and an average price target of $37.26.

About Apache

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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