Apache Corporation (APA) Receives $54.95 Consensus Price Target from Brokerages
Shares of Apache Corporation (NYSE:APA) have been assigned a consensus rating of “Hold” from the twenty-three research firms that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $52.50.
Several equities analysts have recently issued reports on APA shares. Jefferies Group LLC set a $35.00 target price on Apache Corporation and gave the company a “sell” rating in a research note on Tuesday, August 29th. Wells Fargo & Company reissued a “market perform” rating and set a $48.00 target price (down from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. BidaskClub raised Apache Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Cowen and Company set a $50.00 target price on Apache Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, Wolfe Research cut Apache Corporation from a “market perform” rating to an “underperform” rating in a research note on Monday, July 17th.
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In other Apache Corporation news, Director John E. Lowe purchased 2,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $40.32 per share, with a total value of $80,640.00. Following the completion of the acquisition, the director now directly owns 12,000 shares in the company, valued at approximately $483,840. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George D. Lawrence purchased 900 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the acquisition, the director now owns 38,445 shares of the company’s stock, valued at $1,633,528.05. The disclosure for this purchase can be found here. Insiders acquired 5,500 shares of company stock worth $235,094 over the last three months. Corporate insiders own 0.48% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Griffin Asset Management Inc. bought a new position in shares of Apache Corporation during the second quarter valued at $211,000. Gs Investments Inc. bought a new position in shares of Apache Corporation during the second quarter valued at $149,000. Sentry Investment Management LLC lifted its holdings in shares of Apache Corporation by 214.4% during the second quarter. Sentry Investment Management LLC now owns 92,158 shares of the energy company’s stock valued at $4,417,000 after purchasing an additional 62,841 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Apache Corporation by 25.8% during the second quarter. Toronto Dominion Bank now owns 128,867 shares of the energy company’s stock valued at $6,176,000 after purchasing an additional 26,409 shares in the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of Apache Corporation by 47.7% during the second quarter. National Asset Management Inc. now owns 27,562 shares of the energy company’s stock valued at $1,322,000 after purchasing an additional 8,901 shares in the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.
Apache Corporation (APA) traded up 0.71% on Tuesday, hitting $42.52. The stock had a trading volume of 3,101,582 shares. The company has a 50-day moving average price of $42.16 and a 200-day moving average price of $47.69. The stock’s market capitalization is $16.20 billion. Apache Corporation has a 1-year low of $38.14 and a 1-year high of $69.00.
Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Zacks’ 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 company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned ($0.26) earnings per share. Apache Corporation’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts predict that Apache Corporation will post $0.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is -4,997.50%.
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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