Renaissance Investment Group buys $1.1 Million stake in Apache Corporation (APA)

Apache Corporation (APA) : Renaissance Investment Group scooped up 9,352 additional shares in Apache Corporation during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 22,820 shares of Apache Corporation which is valued at $1.1 Million.Apache Corporation makes up approximately 0.54% of Renaissance Investment Group’s portfolio.

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.

Investors should note that on Feb 4, 2016, Apache Corporation announced a cash dividend of $0.2500. The company’s management has announced Apr 20, 2016 as the ex-dividend date and fixed the record date on Apr 22, 2016. The payable date has been fixed on May 23, 2016.

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 closed down -0.71 points or -1.40% at $49.95 with 32,40,278 shares getting traded on Monday. Post opening the session at $51.18, the shares hit an intraday low of $49.92 and an intraday high of $51.66 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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