Newgate Capital Management adds Apache Corporation (APA) to its portfolio

Apache Corporation (APA) : Newgate Capital Management added new position in Apache Corporation during the most recent quarter end. The investment management firm now holds 10,239 shares of Apache Corporation which is valued at $529,663 , the company said in a statement filed on Aug 3, 2016 with the SEC.Apache Corporation makes up approximately 0.42% of Newgate Capital Management’s portfolio.

Other Hedge Funds, Including , State Treasurer State Of Michigan boosted its stake in APA in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 181,445 shares of Apache Corporation which is valued at $9,386,150. Apache Corporation makes up approx 0.07% of State Treasurer State Of Michigan’s portfolio.Schaper Benz Wise Investment Counsel Incwi reduced its stake in APA by selling 400 shares or 1.74% in the most recent quarter. The Hedge Fund company now holds 22,550 shares of APA which is valued at $1,166,512. Apache Corporation makes up approx 0.20% of Schaper Benz Wise Investment Counsel Incwi’s portfolio.Royal London Asset Management Ltd reduced its stake in APA by selling 7,944 shares or 5.88% in the most recent quarter. The Hedge Fund company now holds 127,096 shares of APA which is valued at $6,574,676. Apache Corporation makes up approx 0.10% of Royal London Asset Management Ltd’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in APA in the latest quarter, The investment management firm added 435 additional shares and now holds a total of 28,973 shares of Apache Corporation which is valued at $1,521,083. Apache Corporation makes up approx 0.04% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio. Canandaigua National Bank Trust Co added APA to its portfolio by purchasing 3,766 company shares during the most recent quarter which is valued at $194,928. Apache Corporation makes up approx 0.06% of Canandaigua National Bank Trust Co’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 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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