Harris Associates L P Lowers stake in Apache Corporation (APA)

Apache Corporation (APA) : Harris Associates L P reduced its stake in Apache Corporation by 6.67% during the most recent quarter end. The investment management company now holds a total of 16,203,627 shares of Apache Corporation which is valued at $859.1 Million after selling 1,158,826 shares in Apache Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Apache Corporation makes up approximately 1.64% of Harris Associates L P’s portfolio.

Other Hedge Funds, Including , Bourgeon Capital Management reduced its stake in APA by selling 2,200 shares or 22.19% in the most recent quarter. The Hedge Fund company now holds 7,715 shares of APA which is valued at $409,049. Apache Corporation makes up approx 0.28% of Bourgeon Capital Management’s portfolio.Andra Ap-fonden boosted its stake in APA in the latest quarter, The investment management firm added 8,400 additional shares and now holds a total of 72,100 shares of Apache Corporation which is valued at $3.9 Million. Apache Corporation makes up approx 0.10% of Andra Ap-fonden’s portfolio.Rhumbline Advisers boosted its stake in APA in the latest quarter, The investment management firm added 35,953 additional shares and now holds a total of 541,136 shares of Apache Corporation which is valued at $29.1 Million. Apache Corporation makes up approx 0.09% of Rhumbline Advisers’s portfolio. Quantbot Technologies Lp added APA to its portfolio by purchasing 11,920 company shares during the most recent quarter which is valued at $648,448. Apache Corporation makes up approx 0.10% of Quantbot Technologies Lp’s portfolio.Commerce Bank reduced its stake in APA by selling 8,203 shares or 13.79% in the most recent quarter. The Hedge Fund company now holds 51,275 shares of APA which is valued at $2.8 Million. Apache Corporation makes up approx 0.05% of Commerce Bank’s portfolio.

Apache Corporation opened for trading at $54.38 and hit $55.6 on the upside on Monday, eventually ending the session at $54.8, with a gain of 3.36% or 1.78 points. The heightened volatility saw the trading volume jump to 40,38,091 shares. Company has a market cap of $20,744 M.

On the company’s financial health, Apache Corporation reported $-0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.48 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.88.Analysts expectations of $ 1099.99.During the same quarter in the previous year, the company posted $-0.37 EPS.

Many Wall Street Analysts have commented on Apache Corporation. Apache Corporation was Upgraded by Scotia Howard Weil to ” Sector Outperform” on May 16, 2016. Company shares were Reiterated by RBC Capital Mkts on May 6, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 56 from a previous price target of $54 .Apache Corporation was Upgraded by Wells Fargo to ” Outperform” on Apr 8, 2016.

Apache Corporation (Apache) is an independent energy company which explores for develops and produces natural gas crude oil and natural gas liquids. As of December 31 2014 Apache had exploration and production interests in five countries: the United States Canada Egypt Australia and the United Kingdom. During the year ended December 31 2014 it participated in drilling 1478 gross wells with 1407 (95%) completed as producers. As of December 31 2013 in addition to its completed wells several wells had not reached completion: 318 gross (214.7 net) in the United States; 27 gross (19.0 net) in Canada; 35 gross (32.5 net) in Egypt and 3 gross (2.2 net) in the North Sea. The Company’s operations in United States and Canada are constituted under its North America business while its International business constitutes its operations in Egypt Australia and the United Kingdom in the North Sea.

Leave a Reply

Apache Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Apache Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.