Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Apache Co. (APA)
Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apache Co. (NYSE:APA) by 19.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 116,709 shares of the energy company’s stock after buying an additional 19,007 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Apache were worth $5,456,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its holdings in Apache by 575.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock valued at $104,000 after purchasing an additional 1,892 shares during the period. Fairfield Bush & CO. bought a new stake in shares of Apache during the 1st quarter worth approximately $135,000. Rampart Investment Management Company LLC bought a new stake in shares of Apache during the 1st quarter worth approximately $158,000. Piedmont Investment Advisors LLC bought a new stake in shares of Apache during the 2nd quarter worth approximately $209,000. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Apache by 189.4% during the 1st quarter. Cedar Wealth Management LLC now owns 5,453 shares of the energy company’s stock worth $210,000 after acquiring an additional 3,569 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.
Shares of NYSE:APA opened at $42.17 on Friday. The company has a market capitalization of $16.89 billion, a P/E ratio of 175.71, a P/E/G ratio of 3.76 and a beta of 1.12. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.88. Apache Co. has a one year low of $33.60 and a one year high of $49.59.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Monday, July 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, July 20th. Apache’s payout ratio is 416.67%.
In related news, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was acquired at an average price of $38.35 per share, with a total value of $95,875.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $767,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Apache in a report on Monday, July 23rd. They set a “neutral” rating and a $55.00 price target for the company. ValuEngine raised shares of Apache from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. TheStreet raised shares of Apache from a “c” rating to a “b-” rating in a report on Wednesday, August 1st. Stifel Nicolaus set a $46.00 price target on shares of Apache and gave the stock a “hold” rating in a report on Thursday, July 19th. Finally, Zacks Investment Research downgraded shares of Apache from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.76.
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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