Apache Co. (NYSE:APA) – Research analysts at Piper Jaffray Companies cut their FY2019 earnings per share estimates for Apache in a research note issued on Thursday, August 15th. Piper Jaffray Companies analyst R. Todd now anticipates that the energy company will post earnings per share of $0.26 for the year, down from their previous estimate of $0.32. Piper Jaffray Companies also issued estimates for Apache’s Q4 2019 earnings at $0.28 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.17 EPS, Q4 2020 earnings at $0.29 EPS and FY2020 earnings at $0.86 EPS.
A number of other equities analysts also recently commented on APA. Morgan Stanley decreased their target price on Apache from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, May 20th. ValuEngine raised Apache from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Bank of America cut their price target on Apache from $30.00 to $29.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Apache has a consensus rating of “Hold” and a consensus price target of $36.33.
Apache (NYSE:APA) last issued its earnings results on Wednesday, July 31st. The energy company reported $0.11 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion.
In other news, Director John E. Lowe bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $21.83 per share, with a total value of $109,150.00. Following the completion of the acquisition, the director now directly owns 30,000 shares in the company, valued at $654,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Juliet S. Ellis bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $27.26 per share, for a total transaction of $95,410.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at $95,410. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,500 shares of company stock worth $256,400. 0.69% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in APA. Nuveen Asset Management LLC raised its holdings in Apache by 14,558.8% during the second quarter. Nuveen Asset Management LLC now owns 1,450,931 shares of the energy company’s stock worth $42,033,000 after purchasing an additional 1,441,033 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Apache by 90.7% during the second quarter. UBS Asset Management Americas Inc. now owns 2,442,575 shares of the energy company’s stock worth $70,761,000 after purchasing an additional 1,161,627 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Apache by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock worth $144,156,000 after buying an additional 945,212 shares during the last quarter. Vanguard Group Inc. grew its position in Apache by 1.7% in the second quarter. Vanguard Group Inc. now owns 42,493,393 shares of the energy company’s stock worth $1,231,034,000 after buying an additional 720,427 shares during the last quarter. Finally, Holocene Advisors LP grew its position in Apache by 231.2% in the second quarter. Holocene Advisors LP now owns 1,000,664 shares of the energy company’s stock worth $28,989,000 after buying an additional 698,548 shares during the last quarter. 95.41% of the stock is currently owned by hedge funds and other institutional investors.
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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