Apache Corporation (NYSE:APA) had its target price reduced by Citigroup Inc. from $58.00 to $50.00 in a research note issued to investors on Friday, July 21st. They currently have a neutral rating on the energy company’s stock.
A number of other research firms also recently commented on APA. Stifel Nicolaus assumed coverage on shares of Apache Corporation in a report on Friday, April 7th. They issued a hold rating and a $54.00 price objective for the company. Scotiabank reiterated a hold rating and issued a $58.00 price objective on shares of Apache Corporation in a report on Monday, May 15th. BMO Capital Markets reissued a hold rating and issued a $53.00 price target on shares of Apache Corporation in a research note on Monday, May 15th. Bank of America Corporation reissued a buy rating and issued a $57.00 price target (down previously from $60.00) on shares of Apache Corporation in a research note on Thursday, May 11th. Finally, Jefferies Group LLC reissued a sell rating and issued a $40.00 price target on shares of Apache Corporation in a research note on Wednesday, May 17th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Apache Corporation has a consensus rating of Hold and an average target price of $56.39.
Shares of Apache Corporation (APA) opened at 43.58 on Friday. The stock has a 50 day moving average price of $47.75 and a 200 day moving average price of $51.24. The company’s market capitalization is $16.58 billion. Apache Corporation has a one year low of $43.24 and a one year high of $69.00.
Apache Corporation (NYSE:APA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.22. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.26) EPS. On average, equities research analysts predict that Apache Corporation will post $0.26 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Friday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.29%. Apache Corporation’s payout ratio is -4,997.50%.
In other news, Director Rene R. Joyce acquired 10,000 shares of Apache Corporation stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $513,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John E. Lowe purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in APA. Pinnacle Bank bought a new stake in shares of Apache Corporation during the first quarter valued at approximately $100,000. Invictus RG bought a new stake in shares of Apache Corporation during the first quarter valued at approximately $100,000. Thompson Davis & CO. Inc. raised its stake in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after buying an additional 506 shares in the last quarter. Hanson McClain Inc. bought a new stake in shares of Apache Corporation during the second quarter valued at approximately $106,000. Finally, Parallel Advisors LLC raised its stake in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.
Apache Corporation Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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