Investors Buy Shares of Apache Corp. (APA) on Weakness
Traders purchased shares of Apache Corp. (NYSE:APA) on weakness during trading hours on Tuesday. $39.80 million flowed into the stock on the tick-up and $27.37 million flowed out of the stock on the tick-down, for a money net flow of $12.43 million into the stock. Of all stocks tracked, Apache Corp. had the 28th highest net in-flow for the day. Apache Corp. traded down ($0.44) for the day and closed at $50.23
APA has been the topic of a number of analyst reports. Barclays PLC cut Apache Corp. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $45.00 to $49.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Vetr raised Apache Corp. from a “sell” rating to a “hold” rating and set a $52.69 price target on the stock in a research note on Monday, May 2nd. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $60.00 price target on shares of Apache Corp. in a research note on Friday, May 6th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Apache Corp. in a research note on Sunday, May 8th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $53.00 price target on shares of Apache Corp. in a research note on Monday, May 9th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. Apache Corp. has a consensus rating of “Hold” and an average target price of $54.75.
The company’s market cap is $19.06 billion. The company has a 50 day moving average of $53.99 and a 200-day moving average of $50.27.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.09. The company earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. The business’s revenue was down 38.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. On average, analysts anticipate that Apache Corp. will post ($0.53) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Investors of record on Friday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, July 20th.
Several large investors have modified their holdings of APA. KBC Group NV raised its stake in shares of Apache Corp. by 11.2% in the fourth quarter. KBC Group NV now owns 26,193 shares of the energy company’s stock worth $1,165,000 after buying an additional 2,635 shares in the last quarter. Dai Ichi Life Insurance CO. LTD. raised 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. Advantus Capital Management Inc raised 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. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised 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. Finally, Utah Retirement Systems raised its stake in shares of Apache Corp. by 0.3% in the fourth quarter. Utah Retirement Systems now owns 67,585 shares of the energy company’s stock worth $3,005,000 after buying an additional 200 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).
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.