Apache (APA) Shares Gap Up to $35.24

Apache Co. (NYSE:APA) gapped up prior to trading on Wednesday . The stock had previously closed at $34.24, but opened at $35.24. Apache shares last traded at $36.12, with a volume of 5597458 shares traded.

Several brokerages have recently weighed in on APA. Stifel Nicolaus reaffirmed a “hold” rating and issued a $49.00 target price on shares of Apache in a research report on Thursday, August 30th. TheStreet raised Apache from a “c” rating to a “b-” rating in a research report on Wednesday, August 1st. ValuEngine raised Apache from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Mizuho began coverage on Apache in a research report on Monday, July 23rd. They issued a “neutral” rating and a $55.00 target price for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $37.00 target price on shares of Apache in a research report on Tuesday. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. Apache has an average rating of “Hold” and a consensus target price of $47.21.

The firm has a market cap of $13.68 billion, a P/E ratio of 150.50, a PEG ratio of 2.59 and a beta of 1.35. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90.

Apache (NYSE:APA) last issued its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.16. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.89 billion. Apache had a return on equity of 7.71% and a net margin of 12.11%. Apache’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 earnings per share. As a group, analysts anticipate that Apache Co. will post 1.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio is currently 416.67%.

In other Apache news, insider Rebecca A. Hoyt sold 6,111 shares of the stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $47.48, for a total transaction of $290,150.28. Following the transaction, the insider now owns 30,548 shares of the company’s stock, valued at approximately $1,450,419.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dominic Ricotta sold 3,480 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $43.72, for a total value of $152,145.60. Following the transaction, the vice president now directly owns 10,357 shares in the company, valued at approximately $452,808.04. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP lifted its holdings in Apache by 3.5% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 212,395 shares of the energy company’s stock worth $10,126,000 after buying an additional 7,252 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Apache during the 3rd quarter worth approximately $1,119,000. First Republic Investment Management Inc. lifted its holdings in Apache by 5.7% during the 3rd quarter. First Republic Investment Management Inc. now owns 26,751 shares of the energy company’s stock worth $1,275,000 after buying an additional 1,439 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Apache during the 3rd quarter worth approximately $593,000. Finally, Rand Wealth LLC bought a new position in Apache during the 3rd quarter worth approximately $209,000. 97.32% of the stock is currently owned by institutional investors.

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About Apache (NYSE:APA)

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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