Apache Corp. (NYSE:APA) Receives Average Recommendation of “Hold” from Analysts
Apache Corp. (NYSE:APA) has been given an average recommendation of “Hold” by the thirty-one brokerages that are presently covering the company. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $58.18.
APA has been the topic of a number of research analyst reports. Vetr upgraded shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, August 10th. KLR Group set a $73.00 price target on shares of Apache Corp. and gave the company a “buy” rating in a research note on Wednesday, September 14th. Barclays PLC downgraded shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $45.00 to $49.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Deutsche Bank AG raised their price target on shares of Apache Corp. from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, September 8th. Finally, Zacks Investment Research downgraded shares of Apache Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 12th.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the transaction, the insider now directly owns 12,755 shares of the company’s stock, valued at approximately $777,289.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Dodge & Cox boosted its stake in shares of Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock worth $1,428,167,000 after buying an additional 3,245,030 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock worth $1,369,769,000 after buying an additional 1,199,481 shares in the last quarter. State Street Corp boosted its stake in shares of Apache Corp. by 1.7% in the first quarter. State Street Corp now owns 18,912,725 shares of the energy company’s stock worth $923,131,000 after buying an additional 323,381 shares in the last quarter. Davis Selected Advisers boosted its stake in shares of Apache Corp. by 2.5% in the second quarter. Davis Selected Advisers now owns 17,611,450 shares of the energy company’s stock worth $980,429,000 after buying an additional 437,255 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Apache Corp. by 7.8% in the second quarter. Capital Research Global Investors now owns 15,403,071 shares of the energy company’s stock worth $857,489,000 after buying an additional 1,108,971 shares in the last quarter. 91.25% of the stock is currently owned by institutional investors.
Shares of Apache Corp. (NYSE:APA) traded down 0.28% during midday trading on Monday, reaching $63.69. 1,802,452 shares of the company’s stock traded hands. The stock’s market cap is $24.17 billion. The stock has a 50-day moving average price of $55.81 and a 200-day moving average price of $54.04. Apache Corp. has a 52-week low of $32.20 and a 52-week high of $66.00.
Apache Corp. (NYSE:APA) last announced its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company’s quarterly revenue was down 38.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share. Analysts forecast that Apache Corp. will post ($0.71) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is currently -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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