Apache Corp. (APA) Stock Price Up 3.7%
Apache Corp. (NYSE:APA) shares rose 3.7% during trading on Monday . The stock traded as high as $51.75 and last traded at $51.46, with a volume of 1,577,929 shares traded. The stock had previously closed at $49.64.
APA has been the subject of several recent analyst reports. Vetr cut shares of Apache Corp. from a “buy” rating to a “hold” rating and set a $53.64 target price for the company. in a report on Tuesday, April 12th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $53.00 target price on shares of Apache Corp. in a report on Monday, May 9th. Credit Agricole SA initiated coverage on shares of Apache Corp. in a report on Wednesday, June 22nd. They issued an “underperform” rating for the company. Royal Bank Of Canada raised their target price on shares of Apache Corp. from $54.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, May 6th. Finally, Barclays PLC lowered shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $45.00 to $49.00 in a research report on Friday. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Apache Corp. currently has an average rating of “Hold” and an average target price of $54.83.
The firm’s market cap is $19.23 billion. The firm has a 50 day moving average price of $54.23 and a 200-day moving average price of $49.87.
Apache Corp. (NYSE:APA) last released its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. During the same period in the prior year, the business posted $0.22 earnings per share. The business earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. The firm’s revenue was down 38.5% on a year-over-year basis. Analysts forecast that Apache Corp. will post ($0.48) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Friday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, July 20th.
Several large investors recently made changes to their positions in APA. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Apache Corp. by 15.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 148,448 shares of the energy company’s stock worth $6,602,000 after buying an additional 19,707 shares in the last quarter. Dai Ichi Life Insurance CO. LTD. boosted its stake in shares of Apache Corp. by 36.5% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 33,560 shares of the energy company’s stock worth $1,492,000 after buying an additional 8,973 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in shares of Apache Corp. by 5.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 51,070 shares of the energy company’s stock worth $2,271,000 after buying an additional 2,839 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Apache Corp. by 56.2% in the fourth quarter. Schroder Investment Management Group now owns 163,507 shares of the energy company’s stock worth $7,271,000 after buying an additional 58,810 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its stake in shares of Apache Corp. by 3.1% in the fourth quarter. Advantus Capital Management Inc now owns 36,381 shares of the energy company’s stock worth $1,618,000 after buying an additional 1,091 shares in the last quarter.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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