Apache Corporation (APA) Given Consensus Rating of “Hold” by Analysts
Shares of Apache Corporation (NYSE:APA) have been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $48.88.
APA has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on shares of Apache Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Scotiabank set a $52.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Stifel Nicolaus initiated coverage on shares of Apache Corporation in a report on Tuesday, July 4th. They set a “hold” rating and a $54.00 target price on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $55.00 target price on shares of Apache Corporation in a report on Thursday, July 20th. Finally, Cowen and Company set a $50.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a report on Tuesday, July 18th.
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In other Apache Corporation news, Director John E. Lowe purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $40.32 per share, with a total value of $80,640.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $483,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Lowe purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average cost of $44.90 per share, with a total value of $112,250.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC increased its stake in Apache Corporation by 658.0% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock valued at $355,991,000 after purchasing an additional 6,447,400 shares in the last quarter. Baillie Gifford & Co. increased its stake in Apache Corporation by 58.0% during the 2nd quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock valued at $595,767,000 after purchasing an additional 4,561,430 shares in the last quarter. Harris Associates L P increased its stake in Apache Corporation by 14.3% during the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock valued at $898,275,000 after purchasing an additional 2,343,985 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in Apache Corporation by 11.5% during the 2nd quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock valued at $641,384,000 after purchasing an additional 1,381,096 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Apache Corporation by 11.2% during the 2nd quarter. Franklin Resources Inc. now owns 13,215,507 shares of the energy company’s stock valued at $633,381,000 after purchasing an additional 1,335,127 shares in the last quarter. 95.28% of the stock is owned by institutional investors.
Shares of Apache Corporation (APA) opened at 41.37 on Wednesday. The firm’s 50 day moving average is $42.93 and its 200-day moving average is $45.63. Apache Corporation has a 1-year low of $38.14 and a 1-year high of $69.00. The company’s market cap is $15.76 billion.
Apache Corporation (NYSE:APA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.22). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. Apache Corporation’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.26) EPS. Equities analysts expect that Apache Corporation will post $0.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.42%. Apache Corporation’s dividend payout ratio (DPR) is currently -4,997.50%.
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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