Oppenheimer Asset Management Inc. Purchases 8,271 Shares of Apache Co. (NYSE:APA)

Oppenheimer Asset Management Inc. boosted its position in Apache Co. (NYSE:APA) by 17.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,699 shares of the energy company’s stock after purchasing an additional 8,271 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Apache were worth $1,966,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Dodge & Cox lifted its stake in shares of Apache by 1.1% in the third quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock worth $1,887,812,000 after buying an additional 415,850 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Apache by 7.2% in the fourth quarter. BlackRock Inc. now owns 27,130,392 shares of the energy company’s stock worth $712,173,000 after buying an additional 1,828,617 shares during the last quarter. Harris Associates L P lifted its stake in shares of Apache by 5.8% in the fourth quarter. Harris Associates L P now owns 19,644,841 shares of the energy company’s stock worth $515,678,000 after buying an additional 1,075,776 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Apache by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock worth $144,156,000 after buying an additional 945,212 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Apache by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 4,866,739 shares of the energy company’s stock worth $127,525,000 after buying an additional 340,044 shares during the last quarter. Institutional investors own 99.29% of the company’s stock.

Several equities analysts recently commented on the stock. BMO Capital Markets upped their target price 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. Zacks Investment Research lowered shares of Apache from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Morgan Stanley set a $27.00 price target on shares of Apache and gave the company a “sell” rating in a report on Tuesday, January 29th. Credit Suisse Group upped their target price on shares of Apache from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. Finally, Seaport Global Securities reaffirmed a “hold” rating on shares of Apache in a report on Wednesday, January 30th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. Apache has a consensus rating of “Hold” and an average price target of $41.55.

In other Apache news, Director John E. Lowe bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $30.25 per share, with a total value of $151,250.00. Following the purchase, the director now owns 25,000 shares in the company, valued at $756,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Apache stock traded down $1.34 during trading hours on Wednesday, reaching $29.49. 3,643,628 shares of the company’s stock traded hands, compared to its average volume of 4,312,758. The company has a market cap of $11.45 billion, a PE ratio of 16.66, a PEG ratio of 4.62 and a beta of 1.72. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.94. Apache Co. has a fifty-two week low of $24.56 and a fifty-two week high of $50.03.

Apache (NYSE:APA) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Apache had a negative net margin of 2.08% and a positive return on equity of 6.71%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company posted $0.32 EPS. Apache’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts forecast that Apache Co. will post 1.08 EPS for the current year.

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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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