Apache Co. (NYSE:APA) Receives $38.33 Average PT from Brokerages

Apache Co. (NYSE:APA) has earned a consensus rating of “Hold” from the twenty-four brokerages that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $37.44.

APA has been the subject of a number of recent research reports. ValuEngine raised Apache from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Seaport Global Securities reaffirmed a “neutral” rating on shares of Apache in a research report on Friday, June 21st. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 3rd. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, May 20th. Finally, Bank of America reduced their price target on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st.

In related news, Director John E. Lowe purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $21.83 per share, for a total transaction of $109,150.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at $654,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Juliet S. Ellis purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $27.26 per share, for a total transaction of $95,410.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $95,410. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,500 shares of company stock valued at $256,400 in the last ninety days. Insiders own 0.69% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in APA. Nuveen Asset Management LLC boosted its stake in shares of Apache by 14,558.8% during the second quarter. Nuveen Asset Management LLC now owns 1,450,931 shares of the energy company’s stock valued at $42,033,000 after purchasing an additional 1,441,033 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Apache by 90.7% during the second quarter. UBS Asset Management Americas Inc. now owns 2,442,575 shares of the energy company’s stock valued at $70,761,000 after purchasing an additional 1,161,627 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Apache by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock valued at $144,156,000 after purchasing an additional 945,212 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Apache by 1.7% during the second quarter. Vanguard Group Inc. now owns 42,493,393 shares of the energy company’s stock valued at $1,231,034,000 after purchasing an additional 720,427 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in shares of Apache by 231.2% during the second quarter. Holocene Advisors LP now owns 1,000,664 shares of the energy company’s stock valued at $28,989,000 after purchasing an additional 698,548 shares in the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.

NYSE APA traded up $0.53 during trading hours on Tuesday, reaching $20.46. 806,296 shares of the company’s stock were exchanged, compared to its average volume of 6,056,700. The company’s 50-day moving average is $24.90 and its two-hundred day moving average is $30.23. Apache has a one year low of $19.44 and a one year high of $50.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.03 and a current ratio of 1.23. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 9.59 and a beta of 1.80.

Apache (NYSE:APA) last posted its earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Research analysts predict that Apache will post 0.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, July 19th. Apache’s dividend payout ratio is 56.50%.

About Apache

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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Analyst Recommendations for Apache (NYSE:APA)

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