Apache (NYSE:APA) had its target price lowered by Citigroup from $46.00 to $40.00 in a research report sent to investors on Wednesday morning. The brokerage currently has a neutral rating on the energy company’s stock.
APA has been the topic of several other reports. Barclays increased their target price on shares of Apache from $26.00 to $30.00 and gave the stock an underweight rating in a research report on Monday, November 20th. BMO Capital Markets reissued a hold rating and set a $42.00 target price on shares of Apache in a research report on Tuesday, November 7th. Mitsubishi UFJ Financial Group raised Apache from a neutral rating to an overweight rating in a research report on Tuesday. ValuEngine downgraded Apache from a hold rating to a sell rating in a research report on Friday, February 2nd. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $39.00 price target (down from $43.00) on shares of Apache in a research report on Friday, February 23rd. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $44.07.
Apache (APA) opened at $34.15 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.90. The company has a market cap of $13,010.00, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 3.61 and a beta of 1.05. Apache has a 1 year low of $34.04 and a 1 year high of $54.64.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, April 20th. Apache’s payout ratio is presently 27.03%.
In related news, Director John E. Lowe bought 3,000 shares of Apache stock in a transaction that occurred on Wednesday, December 13th. The stock was acquired at an average price of $40.02 per share, for a total transaction of $120,060.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at $600,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider P Anthony Lannie sold 19,514 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the sale, the insider now owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Apache by 6.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 26,020 shares of the energy company’s stock valued at $1,099,000 after buying an additional 1,594 shares during the period. Colonial Trust Advisors lifted its stake in Apache by 19.4% during the fourth quarter. Colonial Trust Advisors now owns 23,918 shares of the energy company’s stock worth $1,010,000 after purchasing an additional 3,891 shares during the period. Xact Kapitalforvaltning AB lifted its stake in Apache by 11.5% during the fourth quarter. Xact Kapitalforvaltning AB now owns 36,148 shares of the energy company’s stock worth $1,526,000 after purchasing an additional 3,741 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Apache by 2.2% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 211,822 shares of the energy company’s stock worth $8,943,000 after purchasing an additional 4,498 shares during the period. Finally, Pin Oak Investment Advisors Inc. bought a new position in Apache during the fourth quarter worth about $1,422,000. Institutional investors and hedge funds own 94.65% of the company’s stock.
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Apache Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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