Brokerages Set Apache Corp. (NYSE:APA) Target Price at $58.18
Shares of Apache Corp. (NYSE:APA) have been given an average recommendation of “Hold” by the thirty-one analysts that are presently covering the company. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $58.18.
A number of brokerages have recently commented on APA. Credit Agricole SA began coverage on shares of Apache Corp. in a report on Wednesday, June 22nd. They set an “underperform” rating for the company. Jefferies Group reiterated a “sell” rating on shares of Apache Corp. in a report on Thursday, August 4th. Barclays PLC lifted their price target on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 13th. Morgan Stanley reiterated a “hold” rating and set a $69.00 price target on shares of Apache Corp. in a report on Monday, September 26th. Finally, Vetr upgraded shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Wednesday, August 10th.
Shares of Apache Corp. (NYSE:APA) opened at 64.65 on Monday. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00. The firm’s market capitalization is $24.53 billion. The firm’s 50-day moving average is $57.03 and its 200-day moving average is $54.40.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The business’s quarterly revenue was down 38.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share. Equities research analysts forecast that Apache Corp. will post ($0.71) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be paid 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 1.55%. Apache Corp.’s payout ratio is -2.78%.
In other Apache Corp. news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction 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 sale, the insider now owns 12,755 shares in the company, valued at $777,289.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. acquired a new stake in Apache Corp. during the first quarter valued at $107,000. Zions Bancorporation raised its position in Apache Corp. by 0.9% in the first quarter. Zions Bancorporation now owns 2,332 shares of the energy company’s stock valued at $115,000 after buying an additional 21 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Apache Corp. during the second quarter valued at approximately $117,000. Point72 Asia Hong Kong Ltd purchased a new position in Apache Corp. during the second quarter valued at approximately $117,000. Finally, Williams Jones & Associates LLC purchased a new position in Apache Corp. during the first quarter valued at approximately $120,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Apache Corp. Company Profile
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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