Analysts Expect Apache Co. (NYSE:APA) Will Announce Earnings of -$0.03 Per Share

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Wall Street analysts expect Apache Co. (NYSE:APA) to post earnings of ($0.03) per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Apache’s earnings, with the lowest EPS estimate coming in at ($0.23) and the highest estimate coming in at $0.18. Apache posted earnings of $0.63 per share in the same quarter last year, which suggests a negative year over year growth rate of 104.8%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 30th.

According to Zacks, analysts expect that Apache will report full year earnings of $0.37 per share for the current year, with EPS estimates ranging from $0.00 to $0.74. For the next financial year, analysts expect that the business will report earnings of $1.35 per share, with EPS estimates ranging from ($0.16) to $6.33. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Apache.

Apache (NYSE:APA) last announced its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.07. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion.

Several analysts have weighed in on the company. Seaport Global Securities reiterated a “neutral” rating on shares of Apache in a research report on Friday, June 21st. Bank of America lowered their price objective on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on Apache from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Wolfe Research upgraded Apache from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 3rd. Finally, Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Monday, May 20th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Apache has an average rating of “Hold” and an average price target of $37.26.

APA stock traded up $0.91 during midday trading on Friday, hitting $20.84. The company had a trading volume of 5,262,600 shares, compared to its average volume of 5,907,856. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00. Apache has a 52 week low of $19.44 and a 52 week high of $50.03. The stock’s 50 day moving average price is $24.74 and its 200 day moving average price is $30.18. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 8.81 and a beta of 1.80.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.80%. Apache’s dividend payout ratio is presently 56.50%.

In other news, EVP William Mark Meyer acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was acquired at an average price of $25.92 per share, for a total transaction of $51,840.00. Following the completion of the acquisition, the executive vice president now owns 2,919 shares in the company, valued at $75,660.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Lowe acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $21.83 per share, with a total value of $109,150.00. Following the acquisition, the director now owns 30,000 shares of the company’s stock, valued at approximately $654,900. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 10,500 shares of company stock valued at $256,400. 0.69% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Capital Group LLC bought a new position in Apache in the second quarter worth $37,000. Signaturefd LLC raised its holdings in Apache by 66.1% in the first quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock worth $44,000 after purchasing an additional 508 shares in the last quarter. CSat Investment Advisory L.P. raised its holdings in Apache by 152.8% in the second quarter. CSat Investment Advisory L.P. now owns 1,909 shares of the energy company’s stock worth $56,000 after purchasing an additional 1,154 shares in the last quarter. Investors Research Corp bought a new position in Apache in the first quarter worth $105,000. Finally, NEXT Financial Group Inc raised its holdings in Apache by 4,074.7% in the second quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock worth $91,000 after purchasing an additional 3,056 shares in the last quarter. Institutional investors and hedge funds own 96.42% of the company’s stock.

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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Earnings History and Estimates for Apache (NYSE:APA)

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