Shares of Apache Corporation (NYSE:APA) have earned a consensus rating of “Hold” from the twenty-one ratings firms that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $50.00.
A number of research analysts recently issued reports on the stock. Scotiabank restated a “hold” rating and set a $49.00 price objective on shares of Apache Corporation in a report on Tuesday. Royal Bank Of Canada restated a “hold” rating and set a $55.00 price objective on shares of Apache Corporation in a report on Thursday, July 20th. Sanford C. Bernstein restated an “outperform” rating on shares of Apache Corporation in a report on Thursday, September 21st. Citigroup Inc. decreased their price objective on shares of Apache Corporation from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Apache Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th.
In other Apache Corporation news, Director George D. Lawrence acquired 900 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $42.49 per share, with a total value of $38,241.00. Following the completion of the transaction, the director now directly owns 38,445 shares in the company, valued at approximately $1,633,528.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Lowe acquired 2,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at $483,840. The disclosure for this purchase can be found here. In the last three months, insiders bought 5,500 shares of company stock worth $235,094. 0.48% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in APA. UBS Asset Management Americas Inc. lifted its position in shares of Apache Corporation by 3.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,089,569 shares of the energy company’s stock worth $55,993,000 after purchasing an additional 39,733 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Apache Corporation by 0.7% in the first quarter. Nordea Investment Management AB now owns 19,659 shares of the energy company’s stock worth $1,010,000 after purchasing an additional 129 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Apache Corporation by 1.4% in the first quarter. Brandes Investment Partners LP now owns 1,169,745 shares of the energy company’s stock worth $60,113,000 after purchasing an additional 15,617 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Apache Corporation by 155.6% in the first quarter. JPMorgan Chase & Co. now owns 4,967,031 shares of the energy company’s stock worth $255,258,000 after purchasing an additional 3,023,533 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Apache Corporation by 16.4% in the first quarter. KBC Group NV now owns 37,535 shares of the energy company’s stock worth $1,929,000 after purchasing an additional 5,294 shares in the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apache Corporation (NYSE APA) traded down 7.39% during midday trading on Friday, hitting $42.46. 10,110,658 shares of the company traded hands. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00. The stock’s market capitalization is $16.17 billion. The stock’s 50-day moving average is $42.30 and its 200 day moving average is $46.78.
Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.22). The firm had revenue of $1.38 billion for 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 for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) EPS. On average, analysts expect that Apache Corporation will post $0.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Friday, October 20th. Apache Corporation’s dividend payout ratio is presently -4,997.50%.
About Apache Corporation
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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