Other research analysts also recently issued reports about the company. Scotiabank set a $50.00 price objective on Apache Corporation and gave the company a hold rating in a research note on Saturday, July 1st. Wolfe Research downgraded Apache Corporation from a market perform rating to an underperform rating in a research note on Monday, July 17th. Wells Fargo & Company reissued a market perform rating and issued a $48.00 price objective (down from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. Citigroup Inc. dropped their price objective on Apache Corporation from $58.00 to $50.00 and set a neutral rating on the stock in a research note on Friday, July 21st. Finally, Zacks Investment Research downgraded Apache Corporation from a hold rating to a sell rating in a research note on Tuesday. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $49.06.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.26) earnings per share.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio is currently -4,997.50%.
In related news, Director John E. Lowe acquired 2,500 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $44.90 per share, with a total value of $112,250.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George D. Lawrence acquired 900 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $42.49 per share, with a total value of $38,241.00. Following the completion of the acquisition, the director now directly owns 38,445 shares in the company, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,500 shares of company stock valued at $235,094 over the last three months. Corporate insiders own 0.48% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Invictus RG bought a new stake in Apache Corporation during the 1st quarter worth approximately $100,000. Hanson McClain Inc. bought a new stake in Apache Corporation during the 2nd quarter worth approximately $106,000. Parallel Advisors LLC increased its holdings in Apache Corporation by 7.4% during the 1st quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after purchasing an additional 161 shares in the last quarter. FNY Partners Fund LP increased its holdings in Apache Corporation by 500.0% during the 1st quarter. FNY Partners Fund LP now owns 3,000 shares of the energy company’s stock worth $154,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Apache Corporation during the 2nd quarter worth approximately $142,000. 95.00% of the stock is owned by hedge funds and other institutional investors.
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. 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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