A number of other research firms have also weighed in on APA. Mitsubishi UFJ Financial Group assumed coverage on shares of Apache Corp. in a research report on Monday. They set a neutral rating and a $64.00 target price for the company. Barclays PLC boosted their price objective on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an equal weight rating in a report on Tuesday, September 13th. Jefferies Group boosted their price objective on shares of Apache Corp. from $42.00 to $47.00 and gave the stock an underperform rating in a report on Monday, September 12th. Atlantic Securities upgraded shares of Apache Corp. from a neutral rating to an overweight rating and boosted their price objective for the stock from $41.00 to $70.00 in a report on Monday, September 12th. Finally, Wolfe Research upgraded shares of Apache Corp. from an underperform rating to a market perform rating in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Apache Corp. currently has an average rating of Hold and a consensus price target of $57.92.
Shares of Apache Corp. (NYSE:APA) opened at 63.74 on Monday. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00. The company’s market cap is $24.18 billion. The stock’s 50 day moving average price is $55.41 and its 200-day moving average price is $53.93.
Apache Corp. (NYSE:APA) last released its earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.09. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The firm’s revenue was down 38.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. On average, equities research analysts forecast that Apache Corp. will post ($0.71) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.57%. Apache Corp.’s dividend payout ratio is currently -2.78%.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the 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 directly owns 12,755 shares in the company, valued at $777,289.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Aviva PLC raised its position in shares of Apache Corp. by 1.0% in the first quarter. Aviva PLC now owns 261,402 shares of the energy company’s stock valued at $12,759,000 after buying an additional 2,473 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of Apache Corp. during the first quarter valued at $107,000. Massmutual Trust Co. FSB ADV raised its position in shares of Apache Corp. by 19.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 19,393 shares of the energy company’s stock valued at $947,000 after buying an additional 3,101 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in shares of Apache Corp. by 4.9% in the first quarter. BlackRock Japan Co. Ltd now owns 602,530 shares of the energy company’s stock valued at $29,409,000 after buying an additional 27,891 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Apache Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,132,368 shares of the energy company’s stock valued at $250,511,000 after buying an additional 13,486 shares in the last quarter. Institutional investors and hedge funds own 91.25% of the company’s stock.
Apache Corp. Company Profile
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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