Apache (NYSE:APA) Shares Gap Up Following Insider Buying Activity

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Shares of Apache Co. (NYSE:APA) gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $21.54, but opened at $21.99. Apache shares last traded at $22.45, with a volume of 5,480,281 shares trading hands.

Specifically, Director Juliet S. Ellis acquired 3,500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $27.26 per share, with a total value of $95,410.00. Following the completion of the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $95,410. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Mark Meyer acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was acquired at an average cost of $25.92 per share, with a total value of $51,840.00. Following the acquisition, the executive vice president now owns 2,919 shares of the company’s stock, valued at $75,660.48. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 10,500 shares of company stock valued at $256,400. 0.69% of the stock is currently owned by corporate insiders.

APA has been the topic of a number of recent research reports. Wolfe Research upgraded Apache from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 3rd. Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Monday, May 20th. ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Seaport Global Securities reiterated a “neutral” rating on shares of Apache in a research note on Friday, June 21st. Finally, Bank of America cut their target price on Apache from $30.00 to $29.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.11.

The firm’s 50 day moving average price is $26.13. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 7.81 and a beta of 1.80.

Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Apache had a negative net margin of 10.12% and a positive return on equity of 5.12%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. On average, equities research analysts predict that Apache Co. will post 0.48 EPS for the current year.

The firm also recently declared 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 4.45%. The ex-dividend date is Friday, July 19th. Apache’s dividend payout ratio (DPR) is presently 56.50%.

Institutional investors have recently modified their holdings of the business. Courier Capital LLC increased its stake in Apache by 3.1% in the 1st quarter. Courier Capital LLC now owns 10,060 shares of the energy company’s stock worth $349,000 after purchasing an additional 300 shares in the last quarter. Securian Asset Management Inc increased its stake in Apache by 1.1% in the 2nd quarter. Securian Asset Management Inc now owns 39,506 shares of the energy company’s stock worth $1,144,000 after purchasing an additional 426 shares in the last quarter. Hoertkorn Richard Charles increased its stake in Apache by 0.6% in the 1st quarter. Hoertkorn Richard Charles now owns 80,340 shares of the energy company’s stock worth $2,785,000 after purchasing an additional 450 shares in the last quarter. Buckingham Asset Management LLC grew its stake in Apache by 3.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 13,188 shares of the energy company’s stock valued at $382,000 after acquiring an additional 469 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in Apache by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 175,313 shares of the energy company’s stock valued at $5,079,000 after acquiring an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 96.38% of the company’s stock.

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

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