Apache Co. (NYSE:APA) shares gapped down prior to trading on Thursday . The stock had previously closed at $19.01, but opened at $20.08. Apache shares last traded at $19.86, with a volume of 293,332 shares.
Several research analysts recently commented on APA shares. ValuEngine raised shares of Apache from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Wolfe Research raised shares of Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Bank of America cut their price objective on shares of Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus set a $29.00 price objective on shares of Apache and gave the stock a “hold” rating in a report on Monday. Finally, Morgan Stanley cut their price objective on shares of Apache from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.26.
The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.03 and a current ratio of 1.23. The firm has a market capitalization of $8.11 billion, a PE ratio of 11.26, a PEG ratio of 8.62 and a beta of 1.80. The company’s 50 day simple moving average is $24.90 and its 200-day simple moving average is $30.23.
Apache (NYSE:APA) last posted its earnings results on Wednesday, July 31st. The energy company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 forecast that Apache Co. will post 0.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, July 19th. Apache’s dividend payout ratio is presently 56.50%.
In other Apache news, Director Juliet S. Ellis purchased 3,500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average cost of $27.26 per share, with a total value of $95,410.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $95,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Lowe purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $21.83 per share, with a total value of $109,150.00. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at $654,900. The disclosure for this purchase can be found here. Insiders have bought a total of 10,500 shares of company stock worth $256,400 in the last ninety days. Insiders own 0.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of APA. Signaturefd LLC lifted its position in Apache by 66.1% during the 1st quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock valued at $44,000 after acquiring an additional 508 shares during the period. CSat Investment Advisory L.P. raised its stake in Apache by 152.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,909 shares of the energy company’s stock worth $56,000 after buying an additional 1,154 shares during the period. NEXT Financial Group Inc raised its stake in Apache by 4,074.7% during the 2nd quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock worth $91,000 after buying an additional 3,056 shares during the period. Investors Research Corp acquired a new stake in Apache during the 1st quarter worth $105,000. Finally, Quadrant Capital Group LLC raised its stake in Apache by 168.9% during the 1st quarter. Quadrant Capital Group LLC now owns 3,329 shares of the energy company’s stock worth $109,000 after buying an additional 2,091 shares during the period. 96.42% of the stock is owned by institutional investors.
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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