Davis Selected Advisers buys $910.6 Million stake in Apache Corporation (APA)

Apache Corporation (APA) : Davis Selected Advisers scooped up 3,873,987 additional shares in Apache Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 17,174,195 shares of Apache Corporation which is valued at $910.6 Million.Apache Corporation makes up approximately 3.93% of Davis Selected Advisers’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management reduced its stake in APA by selling 1,015 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 24,113 shares of APA which is valued at $1.3 Million. Apache Corporation makes up approx 0.01% of Nuveen Asset Management’s portfolio.Salient Trust Co Lta reduced its stake in APA by selling 300 shares or 4.01% in the most recent quarter. The Hedge Fund company now holds 7,184 shares of APA which is valued at $380,896. Apache Corporation makes up approx 0.05% of Salient Trust Co Lta’s portfolio.Schwab Charles Investment Management Inc boosted its stake in APA in the latest quarter, The investment management firm added 100,192 additional shares and now holds a total of 1,376,054 shares of Apache Corporation which is valued at $74.1 Million. Apache Corporation makes up approx 0.10% of Schwab Charles Investment Management Inc’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in APA in the latest quarter, The investment management firm added 220 additional shares and now holds a total of 11,620 shares of Apache Corporation which is valued at $625,621. Apache Corporation makes up approx 0.04% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Whittier Trust Co reduced its stake in APA by selling 2,801 shares or 31.02% in the most recent quarter. The Hedge Fund company now holds 6,228 shares of APA which is valued at $338,803. Apache Corporation makes up approx 0.01% of Whittier Trust Co’s portfolio.

Apache Corporation closed down -0.34 points or -0.58% at $57.91 with 31,46,407 shares getting traded on Wednesday. Post opening the session at $58.81, the shares hit an intraday low of $57.86 and an intraday high of $59.59 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

Investors should note that on May 12, 2016, Apache Corporation announced a cash dividend of $0.2500. The company’s management has announced Jul 20, 2016 as the ex-dividend date and fixed the record date on Jul 22, 2016. The payable date has been fixed on Aug 22, 2016.

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.

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