Barclays PLC Trims Apache Corporation (APA) Target Price to $26.00
Apache Corporation (NYSE:APA) had its target price decreased by Barclays PLC from $30.00 to $26.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. Barclays PLC currently has an underweight rating on the energy company’s stock.
Other equities research analysts also recently issued reports about the company. Scotiabank set a $50.00 price target on Apache Corporation and gave the stock a hold rating in a research report on Saturday, July 1st. Wolfe Research downgraded Apache Corporation from a market perform rating to an underperform rating in a research report on Monday, July 17th. Wells Fargo & Company reaffirmed a market perform rating and set a $48.00 price target (down from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Citigroup Inc. cut their price target on Apache Corporation from $58.00 to $50.00 and set a neutral rating on the stock in a research report on Friday, July 21st. Finally, Zacks Investment Research downgraded Apache Corporation from a hold rating to a sell rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Apache Corporation presently has a consensus rating of Hold and an average price target of $49.06.
Apache Corporation (APA) opened at 41.60 on Wednesday. The stock’s market capitalization is $15.85 billion. The stock has a 50 day moving average price of $42.44 and a 200-day moving average price of $46.65. 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) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. Apache Corporation’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.26) earnings per share. Equities research analysts expect that Apache Corporation will post $0.03 EPS for the current year.
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The business also recently declared 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 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, October 20th. Apache Corporation’s dividend payout ratio is presently -4,997.50%.
In related news, Director John E. Lowe purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased 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 of the company’s stock, valued at approximately $449,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the completion of the purchase, the director now directly owns 12,000 shares in the company, valued at approximately $483,840. The disclosure for this purchase can be found here. Insiders purchased a total of 5,500 shares of company stock worth $235,094 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of APA. Invictus RG purchased a new position in Apache Corporation in the 1st quarter valued at about $100,000. Hanson McClain Inc. purchased a new position in Apache Corporation in the 2nd quarter valued at about $106,000. Parallel Advisors LLC lifted its stake in Apache Corporation by 7.4% in the 1st 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 in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Apache Corporation in the 2nd quarter valued at about $142,000. Finally, Gs Investments Inc. purchased a new position in Apache Corporation in the 2nd quarter valued at about $149,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.
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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