Apache Co. (NYSE:APA) – Research analysts at Jefferies Financial Group reduced their Q1 2019 earnings estimates for shares of Apache in a research note issued to investors on Monday, April 22nd. Jefferies Financial Group analyst M. Lear now expects that the energy company will post earnings per share of ($0.07) for the quarter, down from their prior forecast of $0.01. Jefferies Financial Group also issued estimates for Apache’s Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at $0.04 EPS, FY2019 earnings at $0.00 EPS, Q1 2020 earnings at ($0.07) EPS, Q3 2020 earnings at $0.04 EPS and FY2020 earnings at $0.07 EPS.
Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, April 9th. BMO Capital Markets upped their price objective on Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Citigroup upped their price objective on Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Credit Suisse Group upped their price objective on Apache from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. Finally, ValuEngine raised Apache from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.82.
Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, February 27th. The energy company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.06. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. Apache had a return on equity of 7.62% and a net margin of 0.54%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, April 18th. Apache’s payout ratio is 56.50%.
Several institutional investors have recently bought and sold shares of APA. Vident Investment Advisory LLC acquired a new stake in Apache during the third quarter worth approximately $215,000. Man Group plc grew its position in Apache by 13.8% during the third quarter. Man Group plc now owns 101,972 shares of the energy company’s stock worth $4,861,000 after buying an additional 12,366 shares in the last quarter. Dodge & Cox grew its position in Apache by 1.1% during the third quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock worth $1,887,812,000 after buying an additional 415,850 shares in the last quarter. Macquarie Group Ltd. grew its position in Apache by 718.2% during the third quarter. Macquarie Group Ltd. now owns 9,000 shares of the energy company’s stock worth $429,000 after buying an additional 7,900 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in Apache during the third quarter worth approximately $2,833,000. 99.82% of the stock is currently owned by institutional investors.
Apache Company Profile
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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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