FY2016 Earnings Forecast for Apache Corp. (APA) Issued By Credit Agricole SA
Apache Corp. (NYSE:APA) – Credit Agricole SA issued their FY2016 earnings per share estimates for Apache Corp. in a research report issued on Wednesday. Credit Agricole SA analyst A. Sen expects that the brokerage will post earnings per share of ($0.78) for the year. Credit Agricole SA has a “Underperform” rating on the stock. Credit Agricole SA also issued estimates for Apache Corp.’s Q3 2016 earnings at ($0.14) EPS, FY2017 earnings at $0.96 EPS and FY2018 earnings at $1.54 EPS.
APA has been the topic of several other reports. Barclays PLC raised their price target on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 13th. Atlantic Securities raised shares of Apache Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $41.00 to $70.00 in a research note on Monday, September 12th. Deutsche Bank AG raised their price target on shares of Apache Corp. from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, September 8th. Morgan Stanley reissued a “hold” rating and issued a $69.00 price target on shares of Apache Corp. in a research note on Monday, September 26th. Finally, Vetr downgraded shares of Apache Corp. from a “hold” rating to a “sell” rating and set a $51.00 price target on the stock. in a research note on Monday, August 22nd. 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 stock. The company has an average rating of “Hold” and an average target price of $57.92.
Apache Corp. (NYSE:APA) opened at 61.77 on Friday. The company’s market capitalization is $23.44 billion. Apache Corp. has a 52 week low of $32.20 and a 52 week high of $66.00. The firm has a 50-day moving average of $59.04 and a 200-day moving average of $55.01.
Apache Corp. (NYSE:APA) last issued its earnings results on Thursday, August 4th. The energy company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.09. The company earned $1.38 billion during the quarter, compared to the consensus estimate of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. Apache Corp.’s revenue was down 38.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. acquired a new position in shares of Apache Corp. during the first quarter worth $107,000. Zions Bancorporation boosted its position in shares of Apache Corp. by 0.9% in the first quarter. Zions Bancorporation now owns 2,332 shares of the energy company’s stock worth $115,000 after buying an additional 21 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Apache Corp. during the second quarter worth $117,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of Apache Corp. during the second quarter worth $117,000. Finally, Williams Jones & Associates LLC acquired a new position in shares of Apache Corp. during the first quarter worth $120,000. Hedge funds and other institutional investors own 91.26% of the company’s stock.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of Apache Corp. stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the completion of the transaction, the insider now owns 12,755 shares in the company, valued at $777,289.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by corporate insiders.
The firm also recently disclosed 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 1.62%. The ex-dividend date is Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is currently -2.78%.
About Apache Corp.
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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