Apache Corporation (APA) Lowered to “Underweight” at J P Morgan Chase & Co
J P Morgan Chase & Co lowered shares of Apache Corporation (NYSE:APA) from a neutral rating to an underweight rating in a report published on Thursday morning. The brokerage currently has $38.00 price target on the energy company’s stock, down from their previous price target of $46.00.
APA has been the topic of several other reports. Jefferies Group LLC reiterated a sell rating and set a $40.00 price objective on shares of Apache Corporation in a research report on Wednesday, May 17th. Royal Bank Of Canada reiterated a hold rating and set a $55.00 price objective on shares of Apache Corporation in a research report on Thursday, July 20th. Citigroup Inc. lowered their price objective on shares of Apache Corporation from $50.00 to $45.00 and set a neutral rating on the stock in a research report on Tuesday, August 15th. BidaskClub upgraded shares of Apache Corporation from a sell rating to a hold rating in a report on Tuesday, June 20th. Finally, Seaport Global Securities cut shares of Apache Corporation from a neutral rating to a sell rating and lowered their price target for the company from $52.00 to $36.00 in a report on Wednesday, June 21st. Nine research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Apache Corporation currently has an average rating of Hold and an average target price of $53.16.
Shares of Apache Corporation (NYSE:APA) traded up 0.21% on Thursday, hitting $42.31. The company’s stock had a trading volume of 1,257,253 shares. The company’s market cap is $16.12 billion. The stock’s 50 day moving average is $42.16 and its 200-day moving average is $47.69. Apache Corporation has a 52 week low of $38.14 and a 52 week high of $69.00.
Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Apache Corporation will post $0.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s payout ratio is presently -4,997.50%.
In other Apache Corporation news, Director George D. Lawrence acquired 900 shares of Apache Corporation stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $42.49 per share, with a total value of $38,241.00. Following the purchase, the director now owns 38,445 shares in the company, valued at $1,633,528.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Lowe acquired 2,500 shares of Apache Corporation stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average cost of $44.90 per share, with a total value of $112,250.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its position in Apache Corporation by 1.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 13,181 shares of the energy company’s stock worth $677,000 after acquiring an additional 215 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Apache Corporation by 58.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 5,662 shares of the energy company’s stock worth $291,000 after acquiring an additional 2,092 shares during the last quarter. Markston International LLC lifted its position in Apache Corporation by 3.1% during the 1st quarter. Markston International LLC now owns 83,800 shares of the energy company’s stock worth $4,306,000 after acquiring an additional 2,521 shares during the last quarter. TIAA CREF Trust Co. FSB MO lifted its position in Apache Corporation by 9.3% during the 1st quarter. TIAA CREF Trust Co. FSB MO now owns 140,121 shares of the energy company’s stock worth $7,201,000 after acquiring an additional 11,900 shares during the last quarter. Finally, Henderson Group PLC lifted its position in Apache Corporation by 1.4% during the 1st quarter. Henderson Group PLC now owns 51,319 shares of the energy company’s stock worth $2,637,000 after acquiring an additional 700 shares during the last quarter. 95.05% of the stock is 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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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