Apache Target of Unusually High Options Trading (NYSE:APA)

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Apache Co. (NYSE:APA) was the target of unusually large options trading activity on Wednesday. Investors acquired 73,818 put options on the stock. This represents an increase of 3,936% compared to the typical daily volume of 1,829 put options.

Shares of NYSE:APA opened at $28.01 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.05 and a quick ratio of 0.87. Apache has a 52-week low of $24.56 and a 52-week high of $50.03. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 4.65 and a beta of 1.79.

Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Apache had a negative net margin of 2.08% and a positive return on equity of 6.71%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company earned $0.32 earnings per share. Apache’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts anticipate that Apache will post 1.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.57%. The ex-dividend date is Friday, July 19th. Apache’s dividend payout ratio (DPR) is 56.50%.

Several brokerages have recently weighed in on APA. Wolfe Research upgraded shares of Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, May 20th. BMO Capital Markets increased their price objective on shares of Apache from $30.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Citigroup increased their price objective on shares of Apache from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Credit Suisse Group increased their price objective on shares of Apache from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. Apache currently has a consensus rating of “Hold” and an average target price of $40.86.

In related news, EVP William Mark Meyer acquired 2,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $25.92 per share, for a total transaction of $51,840.00. Following the acquisition, the executive vice president now directly owns 2,919 shares in the company, valued at approximately $75,660.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Juliet S. Ellis acquired 3,500 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were bought at an average price of $27.26 per share, for a total transaction of $95,410.00. Following the completion of the acquisition, the director now owns 3,500 shares in the company, valued at $95,410. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 10,500 shares of company stock worth $298,500. Insiders own 0.69% of the company’s stock.

A number of large investors have recently modified their holdings of APA. Rockefeller Capital Management L.P. grew its position in Apache by 357.6% in the first quarter. Rockefeller Capital Management L.P. now owns 787 shares of the energy company’s stock valued at $27,000 after acquiring an additional 615 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in Apache in the fourth quarter valued at approximately $29,000. Truehand Inc acquired a new stake in Apache in the fourth quarter valued at approximately $38,000. Cresset Asset Management LLC acquired a new stake in Apache in the first quarter valued at approximately $39,000. Finally, Oregon Public Employees Retirement Fund grew its position in Apache by 2,492.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,087,958 shares of the energy company’s stock valued at $41,000 after acquiring an additional 1,045,998 shares in the last quarter. 96.50% of the stock is owned by institutional investors.

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About Apache

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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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