Mitsubishi UFJ Financial Group assumed coverage on shares of Apache Corp. (NYSE:APA) in a research report report published on Monday morning. The firm issued a neutral rating and a $64.00 price objective on the energy company’s stock.
Several other research analysts have also weighed in on the company. KLR Group set a $73.00 target price on Apache Corp. and gave the stock a buy rating in a research report on Wednesday, September 14th. Barclays PLC increased their price target on Apache Corp. from $50.00 to $58.00 and gave the company an equal weight rating in a report on Tuesday, September 13th. Credit Suisse Group AG reiterated a hold rating and issued a $67.00 price target on shares of Apache Corp. in a report on Monday, September 12th. Wolfe Research upgraded Apache Corp. from an underperform rating to a market perform rating in a report on Monday, September 12th. Finally, Jefferies Group increased their price target on Apache Corp. from $42.00 to $47.00 and gave the company an underperform rating in a report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $57.92.
Shares of Apache Corp. (NYSE:APA) opened at 63.70 on Monday. The stock’s market capitalization is $24.17 billion. The firm has a 50 day moving average price of $54.98 and a 200 day moving average price of $53.86. Apache Corp. has a one year low of $32.20 and a one year high of $64.06.
Apache Corp. (NYSE:APA) last issued its earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by $0.09. The firm earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company’s quarterly revenue was down 38.5% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. Analysts predict that Apache Corp. will post ($0.71) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be given a $0.25 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.57%. Apache Corp.’s dividend payout ratio (DPR) is -2.78%.
In other Apache Corp. news, insider Rebecca A. Hoyt sold 3,356 shares of Apache Corp. stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the transaction, the insider now owns 12,755 shares in the company, valued at $777,289.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd acquired a new position in Apache Corp. during the first quarter valued at about $746,349,000. FIL Ltd acquired a new position in Apache Corp. during the second quarter valued at about $227,262,000. Dodge & Cox raised its position in Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock valued at $1,428,167,000 after buying an additional 3,245,030 shares during the period. Franklin Resources Inc. raised its position in Apache Corp. by 11.2% in the first quarter. Franklin Resources Inc. now owns 15,268,708 shares of the energy company’s stock valued at $745,272,000 after buying an additional 1,537,564 shares during the period. Finally, Vanguard Group Inc. raised its position in Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock valued at $1,369,769,000 after buying an additional 1,199,481 shares during the period. Hedge funds and other institutional investors own 91.25% of the company’s stock.
About Apache Corp.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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