Apache Co. (NYSE:APA) – Research analysts at Seaport Global Securities raised their Q2 2019 earnings estimates for shares of Apache in a note issued to investors on Thursday, May 23rd. Seaport Global Securities analyst J. Aschenbeck now expects that the energy company will post earnings per share of $0.31 for the quarter, up from their prior estimate of $0.22. Seaport Global Securities currently has a “Hold” rating on the stock. Seaport Global Securities also issued estimates for Apache’s Q4 2019 earnings at $0.39 EPS, Q1 2020 earnings at $0.53 EPS, Q3 2020 earnings at $0.56 EPS and Q4 2020 earnings at $0.58 EPS.
Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Apache had a positive return on equity of 6.71% and a negative net margin of 2.08%. Apache’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share.
Shares of APA stock opened at $27.33 on Friday. The firm has a market capitalization of $10.40 billion, a P/E ratio of 15.44, a PEG ratio of 4.63 and a beta of 1.72. Apache has a one year low of $24.56 and a one year high of $50.03. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.05 and a quick ratio of 0.87.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 19th. This represents a $1.00 annualized dividend and a yield of 3.66%. Apache’s dividend payout ratio is currently 56.50%.
In related news, Director John E. Lowe acquired 5,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $30.25 per share, for a total transaction of $151,250.00. Following the completion of the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $756,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its stake in Apache by 357.6% during the first quarter. Rockefeller Capital Management L.P. now owns 787 shares of the energy company’s stock worth $27,000 after acquiring an additional 615 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in Apache during the fourth quarter worth $29,000. Truehand Inc acquired a new position in Apache during the fourth quarter worth $38,000. Cresset Asset Management LLC acquired a new position in Apache during the first quarter worth $39,000. Finally, Rational Advisors LLC raised its stake in Apache by 12,875.0% during the fourth quarter. Rational Advisors LLC now owns 1,557 shares of the energy company’s stock worth $41,000 after acquiring an additional 1,545 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.
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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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