Apache Corp. (APA) Short Interest Update
Apache Corp. (NYSE:APA) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 22,174,543 shares, a growth of 40.7% from the August 31st total of 15,759,879 shares. Based on an average trading volume of 6,716,144 shares, the short-interest ratio is presently 3.3 days. Approximately 5.9% of the shares of the stock are sold short.
A number of equities research analysts recently weighed in on the company. Mitsubishi UFJ Financial Group began coverage on Apache Corp. in a research report on Monday, September 26th. They set a “neutral” rating and a $64.00 price objective on the stock. Morgan Stanley reaffirmed a “hold” rating and set a $69.00 target price on shares of Apache Corp. in a report on Monday, September 26th. Barclays PLC lifted their target price on Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 13th. Atlantic Securities raised Apache Corp. from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $70.00 in a report on Monday, September 12th. Finally, Jefferies Group lifted their target price on Apache Corp. from $42.00 to $47.00 and gave the stock an “underperform” rating in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $57.92.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total transaction of $204,514.64. Following the sale, the insider now owns 12,755 shares in the company, valued at approximately $777,289.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. NWQ Investment Management Company LLC raised its position in Apache Corp. by 2.8% in the first quarter. NWQ Investment Management Company LLC now owns 1,067,329 shares of the energy company’s stock valued at $52,096,000 after buying an additional 29,493 shares during the last quarter. Carnick & Kubik LLC raised its position in Apache Corp. by 3.8% in the first quarter. Carnick & Kubik LLC now owns 13,248 shares of the energy company’s stock valued at $647,000 after buying an additional 488 shares during the last quarter. Aviva PLC raised its position in Apache Corp. by 1.0% in the first quarter. Aviva PLC now owns 261,402 shares of the energy company’s stock valued at $12,759,000 after buying an additional 2,473 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Apache Corp. during the first quarter valued at about $107,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Apache Corp. by 19.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 19,393 shares of the energy company’s stock valued at $947,000 after buying an additional 3,101 shares during the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Apache Corp. (NYSE:APA) opened at 63.87 on Friday. Apache Corp. has a 1-year low of $32.20 and a 1-year high of $66.00. The stock’s market cap is $24.23 billion. The company has a 50-day moving average price of $55.81 and a 200 day moving average price of $54.04.
Apache Corp. (NYSE:APA) last issued its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $0.22 earnings per share. The business’s quarterly revenue was down 38.5% on a year-over-year basis. Equities analysts expect that Apache Corp. will post ($0.71) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Apache Corp.’s payout ratio is -2.78%.
Apache Corp. Company Profile
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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