Ims Capital Management Lowers stake in Apache Corporation (APA)

Apache Corporation (APA) : Ims Capital Management reduced its stake in Apache Corporation by 41.69% during the most recent quarter end. The investment management company now holds a total of 12,725 shares of Apache Corporation which is valued at $658,264 after selling 9,099 shares in Apache Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Apache Corporation makes up approximately 0.74% of Ims Capital Management’s portfolio.

Other Hedge Funds, Including , Amica Retiree Medical Trust reduced its stake in APA by selling 3,057 shares or 57.65% in the most recent quarter. The Hedge Fund company now holds 2,246 shares of APA which is valued at $116,186. Apache Corporation makes up approx 0.10% of Amica Retiree Medical Trust’s portfolio.Umb Bank N Amo boosted its stake in APA in the latest quarter, The investment management firm added 103,503 additional shares and now holds a total of 123,893 shares of Apache Corporation which is valued at $6,412,702. Apache Corporation makes up approx 0.26% of Umb Bank N Amo’s portfolio.Nn Investment Partners Holdings N.v. boosted its stake in APA in the latest quarter, The investment management firm added 58,356 additional shares and now holds a total of 60,551 shares of Apache Corporation which is valued at $3,423,554. Apache Corporation makes up approx 0.03% of Nn Investment Partners Holdings N.v.’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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