Apache Corporation (NYSE:APA) had its price target cut by stock analysts at Barclays PLC from $30.00 to $26.00 in a report released on Wednesday. The firm currently has an “underweight” rating on the energy company’s stock. Barclays PLC’s target price suggests a potential downside of 38.77% from the company’s current price.
Several other research firms have also recently issued reports on APA. Royal Bank Of Canada reiterated a “hold” rating and issued a $55.00 price objective on shares of Apache Corporation in a research report on Thursday, July 20th. Cowen and Company set a $50.00 price objective on Apache Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 18th. BidaskClub upgraded Apache Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research cut Apache Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus assumed coverage on Apache Corporation in a research report on Tuesday, July 4th. They issued a “hold” rating and a $54.00 price objective for the company. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Apache Corporation currently has an average rating of “Hold” and an average target price of $49.06.
Shares of Apache Corporation (NYSE APA) traded down 0.24% during midday trading on Wednesday, reaching $42.36. 1,847,942 shares of the company traded hands. The stock has a market capitalization of $16.14 billion, a P/E ratio of 706.00 and a beta of 1.09. The stock’s 50-day moving average is $42.30 and its 200-day moving average is $46.78. Apache Corporation has a 1-year low of $38.14 and a 1-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) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) EPS. Equities analysts predict that Apache Corporation will post $0.03 EPS for the current fiscal year.
In related news, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $449,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George D. Lawrence acquired 900 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $42.49 per share, with a total value of $38,241.00. Following the transaction, the director now owns 38,445 shares in the company, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of APA. BlackRock Inc. increased its position in Apache Corporation by 3,551.6% during the 1st quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock worth $1,490,509,000 after purchasing an additional 28,209,565 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Apache Corporation by 658.0% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock worth $355,991,000 after purchasing an additional 6,447,400 shares in the last quarter. Baillie Gifford & Co. increased its position in Apache Corporation by 58.0% during the 2nd quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock worth $595,767,000 after purchasing an additional 4,561,430 shares in the last quarter. Harris Associates L P increased its position in Apache Corporation by 14.3% during the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after purchasing an additional 2,343,985 shares in the last quarter. Finally, Orbis Allan Gray Ltd increased its position in Apache Corporation by 11.5% during the 2nd quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after purchasing an additional 1,381,096 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
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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