Davis Selected Advisers buys $863,137,165 stake in Apache Corporation (APA)

Apache Corporation (APA) : Davis Selected Advisers scooped up 437,255 additional shares in Apache Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 17,611,450 shares of Apache Corporation which is valued at $863,137,165.Apache Corporation makes up approximately 3.61% of Davis Selected Advisers’s portfolio.

Other Hedge Funds, Including , Raveneur Investment Group Lp sold out all of its stake in APA during the most recent quarter. The investment firm sold 64,822 shares of APA which is valued $3,176,926.Tdam Usa boosted its stake in APA in the latest quarter, The investment management firm added 9 additional shares and now holds a total of 10,038 shares of Apache Corporation which is valued at $498,286. Apache Corporation makes up approx 0.02% of Tdam Usa’s portfolio.Sg Americas Securities boosted its stake in APA in the latest quarter, The investment management firm added 1,214 additional shares and now holds a total of 31,517 shares of Apache Corporation which is valued at $1,630,374. Apache Corporation makes up approx 0.01% of Sg Americas Securities’s portfolio.Rothschild Investment Corp Il reduced its stake in APA by selling 2,020 shares or 11.02% in the most recent quarter. The Hedge Fund company now holds 16,314 shares of APA which is valued at $875,246. Apache Corporation makes up approx 0.11% of Rothschild Investment Corp Il’s portfolio.

Apache Corporation opened for trading at $52.05 and hit $53.15 on the upside on Monday, eventually ending the session at $52.83, with a gain of 0.92% or 0.48 points. The heightened volatility saw the trading volume jump to 13,50,740 shares. Company has a market cap of $20,045 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 Downgraded by Citigroup to ” Neutral” on Aug 9, 2016. 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.

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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