New Jersey Better Educational Savings Trust buys $724,220 stake in Apache Corporation (APA)

Apache Corporation (APA) : New Jersey Better Educational Savings Trust scooped up 8,000 additional shares in Apache Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 14,000 shares of Apache Corporation which is valued at $724,220.Apache Corporation makes up approximately 0.46% of New Jersey Better Educational Savings Trust’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp reduced its stake in APA by selling 8,536 shares or 71.61% in the most recent quarter. The Hedge Fund company now holds 3,384 shares of APA which is valued at $175,054. Apache Corporation makes up approx 0.02% of Quantbot Technologies Lp’s portfolio.Mercer Capital Advisers reduced its stake in APA by selling 100 shares or 5.3% in the most recent quarter. The Hedge Fund company now holds 1,786 shares of APA which is valued at $95,819. Apache Corporation makes up approx 0.08% of Mercer Capital Advisers’s portfolio.Carroll Financial Associates reduced its stake in APA by selling 425 shares or 88.54% in the most recent quarter. The Hedge Fund company now holds 55 shares of APA which is valued at $3,003.British Columbia Investment Management Corp boosted its stake in APA in the latest quarter, The investment management firm added 24,786 additional shares and now holds a total of 244,994 shares of Apache Corporation which is valued at $13,516,319. Apache Corporation makes up approx 0.12% of British Columbia Investment Management Corp’s portfolio.

Apache Corporation opened for trading at $50.15 and hit $51.745 on the upside on Monday, eventually ending the session at $50.67, with a gain of 2.07% or 1.03 points. The heightened volatility saw the trading volume jump to 44,76,904 shares. Company has a market cap of $19,225 M.

On the company’s financial health, Apache Corporation reported $-0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.19. The company had revenue of $1382.00 million for the quarter, compared to analysts expectations of $1348.18 million. The company’s revenue was down -38.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Apache Corporation. Apache Corporation was Initiated by Credit Agricole to “Underperform” on Jun 22, 2016. 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 (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.

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