Edinburgh Partners Ltd Lowers stake in Apache Corporation (APA)

Apache Corporation (APA) : Edinburgh Partners Ltd reduced its stake in Apache Corporation by 17.51% during the most recent quarter end. The investment management company now holds a total of 1,194,891 shares of Apache Corporation which is valued at $76,664,207 after selling 253,569 shares in Apache Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Apache Corporation makes up approximately 14.35% of Edinburgh Partners Ltd’s portfolio.

Other Hedge Funds, Including , Canal Capital Management added APA to its portfolio by purchasing 3,500 company shares during the most recent quarter which is valued at $224,560. Apache Corporation makes up approx 0.21% of Canal Capital Management’s portfolio.Acropolis Investment Management reduced its stake in APA by selling 245 shares or 2.92% in the most recent quarter. The Hedge Fund company now holds 8,135 shares of APA which is valued at $525,928. Apache Corporation makes up approx 0.10% of Acropolis Investment Management’s portfolio.Chevy Chase Trust Holdings reduced its stake in APA by selling 6,411 shares or 1.48% in the most recent quarter. The Hedge Fund company now holds 426,052 shares of APA which is valued at $27,544,262. Apache Corporation makes up approx 0.15% of Chevy Chase Trust Holdings’s portfolio.Independent Portfolio Consultants reduced its stake in APA by selling 45 shares or 8.35% in the most recent quarter. The Hedge Fund company now holds 494 shares of APA which is valued at $31,937. Apache Corporation makes up approx 0.01% of Independent Portfolio Consultants’s portfolio.Washington Trust Bank boosted its stake in APA in the latest quarter, The investment management firm added 56 additional shares and now holds a total of 781 shares of Apache Corporation which is valued at $50,492. Apache Corporation makes up approx 0.01% of Washington Trust Bank’s portfolio.

Apache Corporation closed down -1.29 points or -2.01% at $62.87 with 29,71,356 shares getting traded on Tuesday. Post opening the session at $63.9, the shares hit an intraday low of $62.42 and an intraday high of $64.18 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

Investors should note that on Sep 15, 2016, Apache Corporation announced a cash dividend of $0.2500. The company’s management has announced Oct 19, 2016 as the ex-dividend date and fixed the record date on Oct 21, 2016. The payable date has been fixed on Nov 22, 2016.

Many Wall Street Analysts have commented on Apache Corporation. Apache Corporation was Downgraded by Citigroup to ” Neutral” on Aug 9, 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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