Apache Corp. (APA) Short Interest Update
Apache Corp. (NYSE:APA) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 22,174,543 shares, a growth of 40.7% from the August 31st total of 15,759,879 shares. Based on an average daily volume of 6,716,144 shares, the short-interest ratio is currently 3.3 days. Approximately 5.9% of the company’s stock are sold short.
In other news, insider Rebecca A. Hoyt sold 3,356 shares of Apache Corp. stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total transaction of $204,514.64. Following the completion of the transaction, the insider now directly owns 12,755 shares in the company, valued at $777,289.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in APA. Orbis Allan Gray Ltd purchased a new stake in Apache Corp. during the first quarter valued at approximately $746,349,000. FIL Ltd purchased a new stake in Apache Corp. during the second quarter valued at approximately $227,262,000. Dodge & Cox raised its stake in Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock valued at $1,428,167,000 after buying an additional 3,245,030 shares in the last quarter. Franklin Resources Inc. raised its stake in Apache Corp. by 11.2% in the first quarter. Franklin Resources Inc. now owns 15,268,708 shares of the energy company’s stock valued at $745,272,000 after buying an additional 1,537,564 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock valued at $1,369,769,000 after buying an additional 1,199,481 shares in the last quarter. Institutional investors own 91.25% of the company’s stock.
Shares of Apache Corp. (NYSE:APA) opened at 63.87 on Friday. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00. The stock has a 50 day moving average of $55.81 and a 200-day moving average of $54.04. The company’s market capitalization is $24.23 billion.
Apache Corp. (NYSE:APA) last released its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. Apache Corp. had a negative net margin of 261.91% and a negative return on equity of 4.16%. The firm’s quarterly revenue was down 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. Equities research analysts forecast that Apache Corp. will post ($0.71) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.57%. Apache Corp.’s dividend payout ratio is presently -2.78%.
Several equities research analysts recently weighed in on APA shares. Mitsubishi UFJ Financial Group started coverage on shares of Apache Corp. in a research report on Monday, September 26th. They set a “neutral” rating and a $64.00 price target for the company. Morgan Stanley reissued a “hold” rating and set a $69.00 price target on shares of Apache Corp. in a research report on Monday, September 26th. Barclays PLC raised their price target on shares of Apache Corp. from $50.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 13th. Atlantic Securities raised shares of Apache Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the company from $41.00 to $70.00 in a research report on Monday, September 12th. Finally, Jefferies Group raised their price target on shares of Apache Corp. from $42.00 to $47.00 and gave the company an “underperform” rating in a research report on Monday, September 12th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. Apache Corp. presently has an average rating of “Hold” and a consensus target price of $57.92.
About Apache Corp.
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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