Apache Corp. (APA) Trading Up 5.3%
Apache Corp. (NYSE:APA) shares were up 5.3% on Tuesday . The company traded as high as $58.34 and last traded at $58.04, with a volume of 1,398,043 shares. The stock had previously closed at $55.11.
A number of research analysts recently weighed in on APA shares. Wells Fargo & Co. reaffirmed a “buy” rating and set a $65.00 price objective on shares of Apache Corp. in a report on Sunday, April 10th. Citigroup Inc. upped their price objective on Apache Corp. from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, April 7th. Vetr lowered Apache Corp. from a “strong-buy” rating to a “buy” rating and set a $55.25 price objective on the stock. in a report on Wednesday, April 6th. Capital One Financial Corp. lowered Apache Corp. from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 23rd. Finally, Deutsche Bank AG upped their price objective on Apache Corp. from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Tuesday, March 29th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the stock. Apache Corp. has a consensus rating of “Hold” and an average price target of $54.64.
The company’s 50 day moving average is $55.73 and its 200 day moving average is $48.33. The company’s market cap is $21.78 billion.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, May 5th. The energy company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.49. During the same period in the previous year, the company posted ($0.37) EPS. Analysts predict that Apache Corp. will post ($0.89) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, July 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%.
A number of hedge funds and institutional investors have recently modified their holdings of APA. Harris Associates L P increased its position in shares of Apache Corp. by 27.9% in the fourth quarter. Harris Associates L P now owns 17,362,453 shares of the energy company’s stock worth $772,109,000 after buying an additional 3,784,360 shares during the period. OppenheimerFunds Inc. increased its position in shares of Apache Corp. by 177.6% in the fourth quarter. OppenheimerFunds Inc. now owns 1,055,794 shares of the energy company’s stock worth $46,954,000 after buying an additional 675,499 shares during the period. Vanguard Group Inc. increased its position in shares of Apache Corp. by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 22,694,824 shares of the energy company’s stock worth $1,009,239,000 after buying an additional 588,228 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Apache Corp. by 187.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 590,000 shares of the energy company’s stock worth $26,238,000 after buying an additional 385,000 shares during the period. Finally, Systematic Financial Management LP purchased a new position in shares of Apache Corp. during the fourth quarter worth approximately $13,374,000.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.