Anchor Capital Advisors Lowers stake in Apache Corporation (APA)

Apache Corporation (APA) : Anchor Capital Advisors reduced its stake in Apache Corporation by 4.12% during the most recent quarter end. The investment management company now holds a total of 1,191,323 shares of Apache Corporation which is valued at $61,627,139 after selling 51,204 shares in Apache Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Apache Corporation makes up approximately 1.58% of Anchor Capital Advisors’s portfolio.

Other Hedge Funds, Including , Shelton Capital Management added APA to its portfolio by purchasing 4,202 company shares during the most recent quarter which is valued at $217,369. Apache Corporation makes up approx 0.02% of Shelton Capital Management’s portfolio.1st Source Bank reduced its stake in APA by selling 374 shares or 5.29% in the most recent quarter. The Hedge Fund company now holds 6,699 shares of APA which is valued at $351,698. Apache Corporation makes up approx 0.04% of 1st Source Bank’s portfolio. Albert D Mason Inc added APA to its portfolio by purchasing 12,750 company shares during the most recent quarter which is valued at $696,150. Apache Corporation makes up approx 0.42% of Albert D Mason Inc’s portfolio.

Apache Corporation closed down -1.55 points or -3.00% at $50.18 with 52,25,768 shares getting traded on Thursday. Post opening the session at $51.18, the shares hit an intraday low of $49.935 and an intraday high of $52.9 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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