Apache (APA) PT Set at $43.00 by Morgan Stanley

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Morgan Stanley set a $43.00 price objective on Apache (NYSE:APA) in a research report released on Friday morning. The brokerage currently has a sell rating on the energy company’s stock.

Several other analysts have also recently commented on the company. Piper Jaffray Companies cut Apache from an overweight rating to a neutral rating in a research report on Thursday, September 27th. Mizuho began coverage on Apache in a research report on Monday, July 23rd. They issued a neutral rating and a $55.00 target price for the company. ValuEngine raised Apache from a sell rating to a hold rating in a research report on Wednesday, August 8th. TheStreet raised Apache from a c rating to a b- rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $49.00 target price on shares of Apache in a research report on Thursday, August 30th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $46.83.

Shares of APA traded up $0.50 during trading hours on Friday, hitting $45.13. 4,140,083 shares of the company were exchanged, compared to its average volume of 4,058,946. The firm has a market cap of $18.23 billion, a PE ratio of 188.04, a P/E/G ratio of 6.15 and a beta of 1.19. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.88. Apache has a one year low of $33.60 and a one year high of $50.03.

Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, August 1st. The energy company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.76 billion. Apache had a return on equity of 5.21% and a net margin of 12.57%. On average, equities research analysts anticipate that Apache will post 1.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. Apache’s payout ratio is 416.67%.

In related news, insider Rebecca A. Hoyt sold 6,111 shares of Apache stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $47.48, for a total transaction of $290,150.28. Following the completion of the sale, the insider now owns 30,548 shares of the company’s stock, valued at $1,450,419.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen J. Riney acquired 6,300 shares of Apache stock in a transaction that occurred on Monday, August 27th. The shares were purchased at an average cost of $43.51 per share, with a total value of $274,113.00. Following the transaction, the insider now owns 42,184 shares of the company’s stock, valued at approximately $1,835,425.84. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC increased its stake in Apache by 3.9% during the second quarter. Boston Common Asset Management LLC now owns 29,547 shares of the energy company’s stock valued at $1,381,000 after acquiring an additional 1,120 shares during the period. Butensky & Cohen Financial Security Inc. increased its stake in Apache by 4.5% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 26,455 shares of the energy company’s stock valued at $1,237,000 after acquiring an additional 1,150 shares during the period. World Asset Management Inc increased its stake in Apache by 4.6% during the second quarter. World Asset Management Inc now owns 26,245 shares of the energy company’s stock valued at $1,227,000 after acquiring an additional 1,154 shares during the period. Guinness Atkinson Asset Management Inc increased its stake in Apache by 4.9% during the second quarter. Guinness Atkinson Asset Management Inc now owns 25,509 shares of the energy company’s stock valued at $1,193,000 after acquiring an additional 1,200 shares during the period. Finally, Donald L. Hagan LLC increased its stake in Apache by 4.0% during the second quarter. Donald L. Hagan LLC now owns 32,083 shares of the energy company’s stock valued at $1,500,000 after acquiring an additional 1,227 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Apache

Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

Read More: How to interpret a stock’s beta number

Analyst Recommendations for Apache (NYSE:APA)

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