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Dodge & Cox reduced stake in Apache Corp

Stock MarketsApr 09, 2021 04:30PM ET
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© Reuters. Dodge & Cox reduced stake in Apache Corp

On the 31st of March, Dodge & Cox sold 7.8 million Apache Corp (NASDAQ:APA) shares for $140 million at an average price of $17.90 per share. Shares of Apache Corp are down -1.96% since the transaction.

Dodge & Cox's holding in Apache Corp decreased to about 44 million shares with the transaction.

Dodge & Cox first bought Apache Corp stock in the second quarter of 2013. Dodge & Cox also owns Ovintiv Inc (NYSE:OVV), Suncor Energy Inc. (NYSE:SU), Concho Resources Inc (NYSE:CXO) and Hess Corp (NYSE:HES). Apache Corp is its number six position by number of shares and market value among oil & gas production stocks.

Other investors who also reduced their Apache Corp shares include California State Teachers Retirement System, Citigroup (NYSE:C), and Eaton Vance (NYSE:EV) Management. In contrast, Ariel Investment, Harris Associates, and Hotchkis & Wiley Capital Management added to APA shares, while Mitsubishi UFJ (NYSE:MUFG) Securities International established new holdings in Apache Corp.

Dodge & Cox has also recently reduced their share in Ovintiv Inc, Hess Corp and Concho Resources Inc. The total value of the shares sold is estimated at around $1.6 billion.

Dodge & Cox also reduced their share in National Oilwell Varco Inc (NYSE:NOV), Hewlett Packard (HPQ), Schlumberger Ltd (NYSE:SLB), State Street Corp (NYSE:STT), Halliburton Co (NYSE:HAL), Metlife Inc (NYSE:MET), FedEx Corporation (FDX), Celanese Corp (NYSE:CE), Gap, Inc. (GPS), Baker Hughes A GE Co (NYSE:BKR), Bank of New York Mellon Corp (NYSE:BK), Juniper Networks Inc (NYSE:JNPR), Johnson Controls Inc (NYSE:JCI), Qurate Retail Group inc (NASDAQ:QRTEA), Capital One Financial Corp (NYSE:COF), Charles Schwab Corp (NYSE:SCHW), Liberty Global A (NASDAQ:LBTYA), TE Connectivity Ltd. New Switze (NYSE:TEL), Mattel Inc (NASDAQ:MAT), Molson Coors Brewing Co (NYSE:TAP), Cemex, S.A.B. de C.V. (CX), Grupo Televisa, S.A.B. (NYSE:TV) and Brighthouse Financial Inc (NASDAQ:BHF). The total value of the shares sold is estimated at around $3.7 billion.

In addition, Dodge & Cox increased their share in Occidental Petroleum Corp (NYSE:OXY), BioMarin Pharmaceutical Inc (NASDAQ:BMRN), AEGON N.V. (AEG), DISH Network Corp (NASDAQ:DISH), VMware (NYSE:VMW), Hewlett Packard Enterprise Co (NYSE:HPE), Micro Focus Intl PLC (MFGP), Dell Technologies Inc C (NYSE:DELL) and Fox Corp (FOXA). The total value of the shares bought is estimated at around $8.5 billion.

Dodge & Cox reduced stake in Apache Corp
 

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