Investors Buy Shares of Apache Corporation (APA) on Weakness
Traders bought shares of Apache Corporation (NYSE:APA) on weakness during trading hours on Thursday. $27.22 million flowed into the stock on the tick-up and $18.55 million flowed out of the stock on the tick-down, for a money net flow of $8.67 million into the stock. Of all stocks tracked, Apache Corporation had the 19th highest net in-flow for the day. Apache Corporation traded down ($0.54) for the day and closed at $40.49
A number of research firms have issued reports on APA. Scotiabank set a $49.00 price target on Apache Corporation and gave the company a “hold” rating in a research note on Monday. BMO Capital Markets reiterated a “hold” rating and set a $42.00 price target on shares of Apache Corporation in a research note on Tuesday, November 7th. Royal Bank Of Canada reiterated a “hold” rating and set a $55.00 price target on shares of Apache Corporation in a research note on Tuesday, November 7th. Bank of America Corporation lifted their price target on Apache Corporation from $41.00 to $42.00 and gave the company an “underperform” rating in a research note on Monday, November 6th. Finally, Morgan Stanley lifted their price target on Apache Corporation from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Apache Corporation has a consensus rating of “Hold” and an average target price of $47.82.
The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.
Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. Apache Corporation had a negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Apache Corporation’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts forecast that Apache Corporation will post -0.01 earnings per share for the current fiscal year.
The company 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. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.47%. Apache Corporation’s payout ratio is 57.47%.
Institutional investors have recently bought and sold shares of the stock. Hanson McClain Inc. purchased a new position in Apache Corporation in the second quarter valued at approximately $106,000. Valeo Financial Advisors LLC bought a new stake in Apache Corporation during the 3rd quarter valued at $135,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Apache Corporation during the 2nd quarter valued at $142,000. Gs Investments Inc. bought a new stake in Apache Corporation during the 2nd quarter valued at $149,000. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in Apache Corporation by 410.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock valued at $174,000 after acquiring an additional 2,923 shares during the period. Institutional investors and hedge funds own 94.98% 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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