MKM Partners assumed coverage on shares of Apache (NYSE:APA) in a report released on Monday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $26.00 price target on the energy company’s stock.
Other research analysts have also recently issued reports about the company. TheStreet cut Apache from a c- rating to a d+ rating in a report on Tuesday, September 3rd. Stifel Nicolaus set a $29.00 target price on Apache and gave the stock a hold rating in a report on Monday, August 12th. Morgan Stanley lowered their target price on Apache from $19.00 to $18.00 and set an underweight rating on the stock in a report on Friday, July 12th. Citigroup lowered their target price on Apache from $35.00 to $22.00 and set a neutral rating on the stock in a report on Monday, August 26th. Finally, ValuEngine upgraded Apache from a strong sell rating to a sell rating in a report on Thursday, August 1st. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Apache has a consensus rating of Hold and a consensus target price of $35.11.
NYSE:APA opened at $25.43 on Monday. The firm has a market cap of $9.15 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 16.97 and a beta of 1.84. The stock has a 50 day moving average of $22.51 and a two-hundred day moving average of $28.62. Apache has a 12 month low of $19.44 and a 12 month high of $50.03. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00.
The firm also recently disclosed a — dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a yield of 4.1%. The ex-dividend date is Monday, October 21st. Apache’s dividend payout ratio is presently 56.50%.
In other Apache news, Director John E. Lowe acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $21.83 per share, for a total transaction of $109,150.00. Following the completion of the acquisition, the director now owns 30,000 shares of the company’s stock, valued at approximately $654,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Capital Group LLC acquired a new position in Apache during the second quarter worth $37,000. Signaturefd LLC lifted its stake in Apache by 66.1% during 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. lifted its stake in Apache by 152.8% during 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. NEXT Financial Group Inc lifted its stake in Apache by 4,074.7% during 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. Finally, HM Payson & Co. acquired a new position in Apache during the second quarter worth $123,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.
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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