Apache Corporation (NYSE:APA) Reaches New 12-Month Low at $43.01

Apache Corporation (NYSE:APA)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $43.01 and last traded at $42.87, with a volume of 1,234,986 shares. The stock had previously closed at $43.58.

A number of research firms recently commented on APA. Jefferies Group LLC reaffirmed a “sell” rating and set a $40.00 price target on shares of Apache Corporation in a research report on Wednesday, May 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price target on shares of Apache Corporation in a research report on Monday, May 15th. Barclays PLC reaffirmed a “sell” rating and set a $41.00 price target (down from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. Zacks Investment Research lowered shares of Apache Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $55.00 price target on shares of Apache Corporation in a research report on Thursday, July 20th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. Apache Corporation currently has a consensus rating of “Hold” and a consensus target price of $56.39.

The stock’s 50 day moving average is $47.32 and its 200 day moving average is $50.76. The company’s market cap is $16.31 billion.

Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company posted ($0.26) earnings per share. On average, equities research analysts anticipate that Apache Corporation will post $0.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Friday, July 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, July 19th. Apache Corporation’s dividend payout ratio (DPR) is -4,997.50%.

In related news, Director John E. Lowe acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $449,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rene R. Joyce purchased 10,000 shares of Apache Corporation stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $51.38 per share, for a total transaction of $513,800.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $513,800. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Apache Corporation by 3,551.6% in the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock worth $1,490,509,000 after buying an additional 28,209,565 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Apache Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,319,658 shares of the energy company’s stock worth $1,352,568,000 after buying an additional 626,822 shares during the last quarter. State Street Corp boosted its position in shares of Apache Corporation by 0.7% in the first quarter. State Street Corp now owns 19,938,329 shares of the energy company’s stock worth $1,024,633,000 after buying an additional 146,990 shares during the last quarter. Harris Associates L P boosted its position in shares of Apache Corporation by 16.4% in the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock worth $842,663,000 after buying an additional 2,307,915 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Apache Corporation by 11.2% in the second quarter. Franklin Resources Inc. now owns 13,215,507 shares of the energy company’s stock worth $633,381,000 after buying an additional 1,335,127 shares during the last quarter. Institutional investors and hedge funds own 94.04% of the company’s stock.

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About Apache Corporation

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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