Brokerages Expect Apache Corporation (APA) Will Post Quarterly Sales of $1.40 Billion
Equities research analysts predict that Apache Corporation (NYSE:APA) will announce sales of $1.40 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Apache Corporation’s earnings, with estimates ranging from $1.27 billion to $1.54 billion. Apache Corporation reported sales of $1.44 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.8%. The company is scheduled to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Apache Corporation will report full-year sales of $1.40 billion for the current fiscal year, with estimates ranging from $5.62 billion to $6.32 billion. For the next financial year, analysts expect that the company will post sales of $6.17 billion per share, with estimates ranging from $4.85 billion to $7.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Apache Corporation.
Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. Apache Corporation’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.26) EPS.
APA has been the subject of a number of research reports. Royal Bank Of Canada set a $55.00 price target on shares of Apache Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. BMO Capital Markets set a $45.00 price target on shares of Apache Corporation and gave the stock a “hold” rating in a research note on Monday, June 26th. Scotiabank set a $50.00 price target on shares of Apache Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of Apache Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Finally, BidaskClub raised shares of Apache Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Apache Corporation has an average rating of “Hold” and a consensus target price of $53.16.
Shares of Apache Corporation (NYSE:APA) traded up 0.71% during trading on Friday, reaching $42.52. 3,101,582 shares of the company traded hands. The stock’s market capitalization is $16.20 billion. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00. The firm’s 50-day moving average is $41.94 and its 200-day moving average is $47.62.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. Apache Corporation’s dividend payout ratio is currently -4,997.50%.
In other news, Director George D. Lawrence purchased 900 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $42.49 per share, for a total transaction of $38,241.00. Following the acquisition, the director now directly owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John E. Lowe purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average price of $44.90 per share, with a total value of $112,250.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,500 shares of company stock valued at $235,094 over the last quarter. 0.48% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Griffin Asset Management Inc. bought a new stake in Apache Corporation during the 2nd quarter valued at $211,000. Gs Investments Inc. bought a new stake in Apache Corporation during the 2nd quarter valued at $149,000. Sentry Investment Management LLC raised its holdings in Apache Corporation by 214.4% during the 2nd quarter. Sentry Investment Management LLC now owns 92,158 shares of the energy company’s stock valued at $4,417,000 after buying an additional 62,841 shares during the last quarter. Toronto Dominion Bank raised its holdings in Apache Corporation by 25.8% during the 2nd quarter. Toronto Dominion Bank now owns 128,867 shares of the energy company’s stock valued at $6,176,000 after buying an additional 26,409 shares during the last quarter. Finally, National Asset Management Inc. raised its holdings in Apache Corporation by 47.7% during the 2nd quarter. National Asset Management Inc. now owns 27,562 shares of the energy company’s stock valued at $1,322,000 after buying an additional 8,901 shares during the last quarter. Institutional investors own 95.05% of the company’s stock.
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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. 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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