North Point Portfolio Managers Corpoh Lowers stake in Apache Corporation (APA)

Apache Corporation (APA) : North Point Portfolio Managers Corpoh reduced its stake in Apache Corporation by 4.23% during the most recent quarter end. The investment management company now holds a total of 97,406 shares of Apache Corporation which is valued at $5,041,735 after selling 4,306 shares in Apache Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Apache Corporation makes up approximately 0.96% of North Point Portfolio Managers Corpoh’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc reduced its stake in APA by selling 5,737 shares or 0.95% in the most recent quarter. The Hedge Fund company now holds 597,539 shares of APA which is valued at $30,928,619. Apache Corporation makes up approx 0.03% of American Century Companies Inc’s portfolio. Granite Investment Advisors sold out all of its stake in APA during the most recent quarter. The investment firm sold 55,010 shares of APA which is valued $2,951,287.Private Capital Advisors reduced its stake in APA by selling 345 shares or 0.69% in the most recent quarter. The Hedge Fund company now holds 49,805 shares of APA which is valued at $2,672,038. Apache Corporation makes up approx 0.98% of Private Capital Advisors’s portfolio.Penn Davis Mcfarland Inc reduced its stake in APA by selling 386 shares or 1.8% in the most recent quarter. The Hedge Fund company now holds 21,026 shares of APA which is valued at $1,184,395. Apache Corporation makes up approx 0.31% of Penn Davis Mcfarland Inc’s portfolio.

Apache Corporation opened for trading at $51.15 and hit $52.74 on the upside on Friday, eventually ending the session at $52.5, with a gain of 1.27% or 0.66 points. The heightened volatility saw the trading volume jump to 24,93,592 shares. Company has a market cap of $19,873 M.

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.

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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