Apache Corporation (NYSE:APA) Rating Reiterated by Royal Bank Of Canada
Royal Bank Of Canada restated their hold rating on shares of Apache Corporation (NYSE:APA) in a research note issued to investors on Thursday morning. The firm currently has a $55.00 price objective on the energy company’s stock.
A number of other brokerages have also weighed in on APA. Bank of America Corporation restated a buy rating and set a $57.00 target price (down previously from $60.00) on shares of Apache Corporation in a research report on Thursday, May 11th. Scotiabank restated a hold rating and set a $58.00 target price on shares of Apache Corporation in a research report on Monday, May 15th. BMO Capital Markets restated a hold rating and set a $53.00 target price on shares of Apache Corporation in a research report on Monday, May 15th. Stifel Nicolaus started coverage on shares of Apache Corporation in a research report on Friday, April 7th. They set a hold rating and a $54.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Apache Corporation from a sell rating to a hold rating in a research report on Wednesday, May 10th. Seven analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. Apache Corporation presently has an average rating of Hold and an average target price of $57.14.
Apache Corporation (APA) traded down 1.90% during mid-day trading on Thursday, reaching $48.41. 3,347,464 shares of the company’s stock traded hands. The stock has a 50 day moving average of $47.60 and a 200 day moving average of $52.26. Apache Corporation has a 12-month low of $44.60 and a 12-month high of $69.00. The company’s market cap is $18.42 billion.
Apache Corporation (NYSE:APA) last posted its quarterly earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.08. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.49 billion. Apache Corporation had a negative return on equity of 1.27% and a negative net margin of 13.34%. During the same quarter in the previous year, the company earned ($0.40) earnings per share. On average, equities research analysts predict that Apache Corporation will post $0.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Friday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, July 19th. Apache Corporation’s dividend payout ratio is currently -46.08%.
In other news, Director Rene R. Joyce purchased 10,000 shares of the stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $513,800. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in APA. Pinnacle Bank bought a new position in shares of Apache Corporation during the first quarter valued at approximately $100,000. Invictus RG bought a new position in shares of Apache Corporation during the first quarter valued at approximately $100,000. Thompson Davis & CO. Inc. raised its position in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after buying an additional 506 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after buying an additional 161 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Apache Corporation during the first quarter valued at approximately $135,000. Institutional investors and hedge funds own 94.06% of the company’s stock.
Apache Corporation Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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