Apache Co. (NYSE:APA) fell 5.1% during trading on Tuesday after Morgan Stanley lowered their price target on the stock from $43.00 to $35.00. Morgan Stanley currently has a sell rating on the stock. Apache traded as low as $34.28 and last traded at $34.67. 5,725,512 shares were traded during mid-day trading, an increase of 40% from the average session volume of 4,103,102 shares. The stock had previously closed at $36.53.

APA has been the topic of several other reports. Piper Jaffray Companies lowered shares of Apache from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 27th. Mizuho began coverage on shares of Apache in a research report on Monday, July 23rd. They issued a “neutral” rating and a $55.00 price objective on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $40.00 price objective on shares of Apache in a research report on Monday, November 5th. ValuEngine upgraded shares of Apache from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, TheStreet upgraded shares of Apache from a “c” rating to a “b-” rating in a research report on Wednesday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Apache currently has a consensus rating of “Hold” and an average price target of $47.35.

In other news, CEO John J. Christmann bought 3,900 shares of Apache stock in a transaction on Monday, August 27th. The shares were bought at an average cost of $43.63 per share, for a total transaction of $170,157.00. Following the acquisition, the chief executive officer now owns 150,696 shares in the company, valued at $6,574,866.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rebecca A. Hoyt sold 6,111 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $47.48, for a total transaction of $290,150.28. Following the completion of the transaction, the insider now owns 30,548 shares in the company, valued at $1,450,419.04. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of APA. Dimensional Fund Advisors LP increased its stake in shares of Apache by 71.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock valued at $170,375,000 after acquiring an additional 1,512,960 shares during the last quarter. Manitou Investment Management Ltd. acquired a new position in shares of Apache during the 3rd quarter valued at about $34,350,000. Morgan Stanley increased its stake in shares of Apache by 73.5% during the 3rd quarter. Morgan Stanley now owns 1,323,062 shares of the energy company’s stock valued at $63,071,000 after acquiring an additional 560,279 shares during the last quarter. Dodge & Cox increased its stake in shares of Apache by 1.1% during the 3rd quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock valued at $1,887,812,000 after acquiring an additional 415,850 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Apache by 4,112.2% during the 2nd quarter. Sei Investments Co. now owns 238,538 shares of the energy company’s stock valued at $11,152,000 after acquiring an additional 232,875 shares during the last quarter. 96.83% of the stock is owned by institutional investors.

The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.90. The company has a market cap of $13.86 billion, a P/E ratio of 148.10, a PEG ratio of 2.59 and a beta of 1.35.

Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted $0.04 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, research analysts predict that Apache Co. will post 2.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio is currently 416.67%.

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About Apache (NYSE:APA)

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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