Reinhart Partners buys $33,430,064 stake in Apache Corporation (APA)

Apache Corporation (APA) : Reinhart Partners scooped up 40,679 additional shares in Apache Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 594,841 shares of Apache Corporation which is valued at $33,430,064.Apache Corporation makes up approximately 3.36% of Reinhart Partners’s portfolio.

Apache Corporation opened for trading at $55.27 and hit $56.66 on the upside on Friday, eventually ending the session at $56.2, with a gain of 2.59% or 1.42 points. The heightened volatility saw the trading volume jump to 28,65,087 shares. Company has a market cap of $21,260 M.

Other Hedge Funds, Including , Gateway Investment Advisers reduced its stake in APA by selling 11,835 shares or 25.7% in the most recent quarter. The Hedge Fund company now holds 34,213 shares of APA which is valued at $1,922,771. Apache Corporation makes up approx 0.02% of Gateway Investment Advisers’s portfolio. Clean Yield Group added APA to its portfolio by purchasing 94 company shares during the most recent quarter which is valued at $4,893. Spirit Of America Management Corpny sold out all of its stake in APA during the most recent quarter. The investment firm sold 3,000 shares of APA which is valued $156,150.

On the company’s financial health, Apache Corporation reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.40 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $-0.46. The company had revenue of $1263.00 million for the quarter, compared to analysts expectations of $1388.91 million. The company’s revenue was down -52.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on Apache Corporation. Apache Corporation was Upgraded by Wells Fargo to ” Outperform” on Apr 8, 2016. Company shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Hold”, Firm has raised the Price Target to $ 53 from a previous price target of $50 .Apache Corporation was Downgraded by CapitalOne to ” Equal Weight” on Mar 23, 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.

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