Apache Corporation (NYSE:APA) Cut to “Sell” at BidaskClub
BidaskClub downgraded shares of Apache Corporation (NYSE:APA) from a hold rating to a sell rating in a report issued on Saturday morning.
Several other research analysts also recently issued reports on APA. Stifel Nicolaus started coverage on shares of Apache Corporation in a report on Friday, April 7th. They set a hold rating and a $54.00 price target for the company. Barclays PLC reiterated a sell rating and set a $41.00 price target (down from $50.00) on shares of Apache Corporation in a report on Thursday, April 20th. Royal Bank Of Canada reiterated a hold rating and set a $63.00 price target on shares of Apache Corporation in a report on Tuesday, April 25th. Zacks Investment Research downgraded shares of Apache Corporation from a hold rating to a sell rating in a report on Tuesday, May 2nd. Finally, BMO Capital Markets reiterated a hold rating and set a $53.00 price target on shares of Apache Corporation in a report on Friday, May 5th. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. Apache Corporation currently has a consensus rating of Hold and an average price target of $56.39.
Shares of Apache Corporation (NYSE:APA) traded up 2.63% on Friday, reaching $45.22. The company’s stock had a trading volume of 7,043,091 shares. The company’s market cap is $17.20 billion. Apache Corporation has a 52-week low of $43.61 and a 52-week high of $69.00. The firm has a 50 day moving average of $47.96 and a 200 day moving average of $51.36.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by $0.22. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that Apache Corporation will post $0.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Apache Corporation’s dividend payout ratio (DPR) is currently -4,997.50%.
In other news, Director Rene R. Joyce purchased 10,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $51.38 per share, with a total value of $513,800.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $513,800. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.
A number of hedge funds have recently modified their holdings of APA. Pinnacle Bank purchased a new stake in shares of Apache Corporation during the first quarter worth approximately $100,000. Invictus RG purchased a new stake in shares of Apache Corporation during the first quarter worth approximately $100,000. Thompson Davis & CO. Inc. boosted its position in Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock worth $103,000 after buying an additional 506 shares during the period. Parallel Advisors LLC boosted its position in Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Apache Corporation during the first quarter worth about $135,000. 94.38% of the stock is currently owned by institutional investors and hedge funds.
About Apache Corporation
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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