Apache Corporation (NYSE:APA) was downgraded by equities research analysts at Wolfe Research from a “market perform” rating to an “underperform” rating in a research report issued on Monday, The Fly reports.
APA has been the topic of a number of other reports. KLR Group reissued a “buy” rating and set a $79.00 target price on shares of Apache Corporation in a report on Monday, March 20th. Barclays PLC reissued a “sell” rating and set a $41.00 target price (down from $50.00) on shares of Apache Corporation in a report on Thursday, April 20th. BMO Capital Markets set a $45.00 target price on Apache Corporation and gave the stock a “hold” rating in a report on Monday, June 26th. Stifel Nicolaus began coverage on Apache Corporation in a research note on Friday, April 7th. They issued a “hold” rating and a $54.00 price target for the company. Finally, Scotiabank set a $58.00 price target on Apache Corporation and gave the company a “hold” rating in a research note on Monday, March 27th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $57.90.
Shares of Apache Corporation (APA) traded up 0.02% during midday trading on Monday, reaching $48.57. The company’s stock had a trading volume of 935,611 shares. Apache Corporation has a 12 month low of $44.60 and a 12 month high of $69.00. The firm’s market cap is $18.48 billion. The company has a 50-day moving average price of $48.33 and a 200-day moving average price of $54.10. Apache Corporation also was the target of unusually large options trading on Friday. Traders acquired 1,516 call options on the company. This is an increase of 470% compared to the average volume of 266 call options.
Apache Corporation (NYSE:APA) last posted its earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.49 billion. Apache Corporation had a negative return on equity of 1.27% and a negative net margin of 13.34%. During the same period in the previous year, the firm posted ($0.40) earnings per share. Equities analysts expect that Apache Corporation will post $0.62 earnings per share for the current year.
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In other news, Director Rene R. Joyce bought 10,000 shares of the stock in a transaction on Monday, May 15th. The stock was acquired at an average price of $51.38 per share, with a total value of $513,800.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $513,800. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Pinnacle Bank purchased a new position in shares of Apache Corporation during the first quarter worth about $100,000. Invictus RG purchased a new position in shares of Apache Corporation during the first quarter worth about $100,000. Thompson Davis & CO. Inc. boosted its position in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock worth $103,000 after buying an additional 506 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Apache Corporation during the first quarter worth about $135,000. 94.06% of the stock is owned by institutional investors and hedge funds.
Apache Corporation Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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