Morgan Stanley set a $19.00 price target on Apache (NYSE:APA) in a research note issued to investors on Monday, Stock Target Advisor reports. The brokerage currently has a sell rating on the energy company’s stock.
Several other research firms have also commented on APA. Zacks Investment Research raised shares of Apache from a hold rating to a buy rating and set a $40.00 target price on the stock in a report on Tuesday, April 9th. BMO Capital Markets increased their target price on shares of Apache from $30.00 to $36.00 and gave the company a market perform rating in a report on Friday, April 5th. Credit Suisse Group raised their price target on shares of Apache from $36.00 to $37.00 and gave the stock a neutral rating in a report on Thursday, February 28th. Citigroup raised their price target 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, Wolfe Research raised shares of Apache from an underperform rating to a peer perform rating in a report on Monday, June 3rd. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $40.48.
APA stock opened at $29.03 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 1.05. Apache has a 52 week low of $24.56 and a 52 week high of $50.03. The firm’s fifty day simple moving average is $28.80. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 4.69 and a beta of 1.79.
Apache (NYSE:APA) last released its earnings results on Wednesday, May 1st. The energy company reported $0.10 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.32 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts predict that Apache will post 1.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.44%. Apache’s dividend payout ratio is 56.50%.
In related news, Director John E. Lowe bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average cost of $30.25 per share, with a total value of $151,250.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $756,250. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Mark Meyer bought 2,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $25.92 per share, with a total value of $51,840.00. Following the completion of the transaction, the executive vice president now owns 2,919 shares in the company, valued at approximately $75,660.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 10,500 shares of company stock valued at $298,500. Corporate insiders own 0.69% of the company’s stock.
Several large investors have recently bought and sold shares of APA. Norges Bank purchased a new stake in shares of Apache in the 4th quarter worth about $103,822,000. BlackRock Inc. lifted its position in shares of Apache by 7.2% in the 4th quarter. BlackRock Inc. now owns 27,130,392 shares of the energy company’s stock worth $712,173,000 after purchasing an additional 1,828,617 shares during the period. Harris Associates L P lifted its position in shares of Apache by 5.8% in the 4th quarter. Harris Associates L P now owns 19,644,841 shares of the energy company’s stock worth $515,678,000 after purchasing an additional 1,075,776 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Apache by 20.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock worth $144,156,000 after purchasing an additional 945,212 shares during the period. Finally, Prudential PLC lifted its position in shares of Apache by 16.7% in the 4th quarter. Prudential PLC now owns 3,143,200 shares of the energy company’s stock worth $82,509,000 after purchasing an additional 450,900 shares during the period. 96.46% of the stock is owned by hedge funds and other institutional investors.
Apache Company Profile
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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