Apache (APA) Rating Reiterated by BMO Capital Markets

BMO Capital Markets reaffirmed their hold rating on shares of Apache (NYSE:APA) in a research note published on Monday morning. They currently have a $40.00 price target on the energy company’s stock.

Several other research analysts also recently issued reports on APA. Macquarie upgraded shares of Apache from an underperform rating to a neutral rating and set a $37.00 price objective on the stock in a report on Friday, November 2nd. They noted that the move was a valuation call. Stephens set a $55.00 target price on shares of Apache and gave the company a buy rating in a research note on Thursday, November 1st. Cowen set a $48.00 target price on shares of Apache and gave the company a hold rating in a research note on Thursday, July 19th. Zacks Investment Research cut shares of Apache from a buy rating to a hold rating in a research note on Tuesday, July 10th. Finally, Stifel Nicolaus set a $53.00 target price on shares of Apache and gave the company a hold rating in a research note on Thursday, November 1st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Apache currently has a consensus rating of Hold and an average price target of $47.37.

NYSE:APA opened at $36.02 on Monday. Apache has a 52-week low of $33.60 and a 52-week high of $50.03. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.90. The stock has a market cap of $14.17 billion, a PE ratio of 150.08, a P/E/G ratio of 2.69 and a beta of 1.35.

Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. The business’s revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Apache will post 1.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be paid a $0.25 dividend. The ex-dividend date is Friday, October 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.78%. Apache’s payout ratio is currently 416.67%.

In other news, CEO John J. Christmann acquired 3,900 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were purchased at an average cost of $43.63 per share, with a total value of $170,157.00. Following the completion of the purchase, the chief executive officer now owns 150,696 shares of the company’s stock, valued at $6,574,866.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Dominic Ricotta sold 3,480 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $43.72, for a total transaction of $152,145.60. Following the sale, the vice president now directly owns 10,357 shares in the company, valued at $452,808.04. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. grew its stake in Apache by 76.2% during the second quarter. Baillie Gifford & Co. now owns 24,490,129 shares of the energy company’s stock worth $1,144,913,000 after buying an additional 10,592,806 shares during the last quarter. Northern Trust Corp grew its stake in Apache by 2.4% during the second quarter. Northern Trust Corp now owns 4,819,284 shares of the energy company’s stock worth $225,301,000 after buying an additional 111,798 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Apache by 71.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock worth $170,375,000 after buying an additional 1,512,960 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Apache by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,635,287 shares of the energy company’s stock worth $76,450,000 after buying an additional 82,128 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC grew its stake in Apache by 8.0% during the second quarter. Villere ST Denis J & Co. LLC now owns 1,538,445 shares of the energy company’s stock worth $71,922,000 after buying an additional 113,310 shares during the last quarter. 96.62% of the stock is currently owned by hedge funds and other institutional investors.

Apache Company Profile

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 Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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Analyst Recommendations for Apache (NYSE:APA)

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