Apache Co. (APA) Given Average Recommendation of “Hold” by Brokerages
Shares of Apache Co. (NYSE:APA) have been assigned a consensus rating of “Hold” from the twenty-two brokerages that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $46.61.
APA has been the subject of a number of research reports. Zacks Investment Research downgraded Apache from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Morgan Stanley initiated coverage on Apache in a report on Thursday, July 12th. They set an “underweight” rating and a $42.00 target price for the company. Stephens set a $55.00 target price on Apache and gave the stock a “buy” rating in a report on Monday, September 24th. Piper Jaffray Companies downgraded Apache from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Finally, Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Apache in a report on Thursday, September 27th.
APA stock opened at $44.51 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.36 and a quick ratio of 1.20. Apache has a one year low of $33.60 and a one year high of $50.03. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 185.46, a P/E/G ratio of 6.15 and a beta of 1.19.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio (DPR) is presently 416.67%.
In related news, insider Rebecca A. Hoyt sold 6,111 shares of the business’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $47.48, for a total value of $290,150.28. Following the completion of the transaction, the insider now owns 30,548 shares of the company’s stock, valued at $1,450,419.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Dominic Ricotta sold 3,480 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $43.72, for a total value of $152,145.60. Following the completion of the transaction, the vice president now directly owns 10,357 shares of the company’s stock, valued at approximately $452,808.04. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its stake in Apache by 575.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock worth $104,000 after acquiring an additional 1,892 shares in the last quarter. Wesbanco Bank Inc. acquired a new position in Apache during the second quarter worth about $207,000. Mutual Advisors LLC acquired a new position in Apache during the second quarter worth about $208,000. Piedmont Investment Advisors LLC acquired a new position in Apache during the second quarter worth about $209,000. Finally, Baldwin Investment Management LLC acquired a new position in Apache during the second quarter worth about $211,000. 96.74% of the stock is owned by institutional investors and hedge funds.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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