Guinness Asset Management Ltd Lowers stake in Apache Corporation (APA)

Apache Corporation (APA) : Guinness Asset Management Ltd reduced its stake in Apache Corporation by 4.62% during the most recent quarter end. The investment management company now holds a total of 208,607 shares of Apache Corporation which is valued at $10,797,498 after selling 10,100 shares in Apache Corporation , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Apache Corporation makes up approximately 2.95% of Guinness Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in APA in the latest quarter, The investment management firm added 4,975 additional shares and now holds a total of 10,091 shares of Apache Corporation which is valued at $522,310. Apache Corporation makes up approx 0.02% of Msi Financial Services Inc’s portfolio. Quantres Asset Management Ltd sold out all of its stake in APA during the most recent quarter. The investment firm sold 12,000 shares of APA which is valued $643,800.British Columbia Investment Management Corp boosted its stake in APA in the latest quarter, The investment management firm added 24,786 additional shares and now holds a total of 244,994 shares of Apache Corporation which is valued at $13,516,319. Apache Corporation makes up approx 0.12% of British Columbia Investment Management Corp’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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *