Analysts Set Apache Corp. (APA) Price Target at $58.10
Shares of Apache Corp. (NYSE:APA) have been assigned a consensus rating of “Hold” from the twenty-eight ratings firms that are presently covering the stock. Three analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $58.26.
Several equities research analysts recently issued reports on APA shares. Atlantic Securities raised Apache Corp. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $70.00 in a research note on Monday, September 12th. Raymond James Financial Inc. increased their price objective on Apache Corp. from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, September 8th. Citigroup Inc. downgraded Apache Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $53.00 in a research note on Tuesday, August 9th. They noted that the move was a valuation call. Zacks Investment Research raised Apache Corp. from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Monday, October 17th. Finally, Deutsche Bank AG increased their price objective on Apache Corp. from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, September 8th.
In other Apache Corp. news, Director John E. Lowe purchased 2,132 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was purchased at an average cost of $57.65 per share, with a total value of $122,909.80. Following the acquisition, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $432,375. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rebecca A. Hoyt sold 3,356 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 12,755 shares of the company’s stock, valued at $777,289.70. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Babson Capital Management LLC boosted its stake in Apache Corp. by 218.2% in the first quarter. Babson Capital Management LLC now owns 31,647 shares of the energy company’s stock worth $1,545,000 after buying an additional 21,700 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Apache Corp. by 328.7% in the first quarter. Panagora Asset Management Inc. now owns 141,033 shares of the energy company’s stock worth $6,884,000 after buying an additional 108,139 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Apache Corp. by 17.7% in the first quarter. Jones Financial Companies Lllp now owns 7,114 shares of the energy company’s stock worth $347,000 after buying an additional 1,070 shares in the last quarter. Steinberg Global Asset Management acquired a new stake in Apache Corp. during the first quarter worth $348,000. Finally, Orbis Allan Gray Ltd acquired a new stake in Apache Corp. during the first quarter worth $746,349,000. 91.65% of the stock is owned by hedge funds and other institutional investors.
Apache Corp. (NYSE:APA) opened at 57.72 on Monday. The company’s 50-day moving average price is $61.22 and its 200 day moving average price is $56.24. Apache Corp. has a 52-week low of $32.20 and a 52-week high of $66.00. The firm’s market capitalization is $21.90 billion.
Apache Corp. (NYSE:APA) last announced its earnings results on Thursday, November 3rd. The energy company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.13. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. The business earned $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted ($0.05) earnings per share. Apache Corp.’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts predict that Apache Corp. will post ($1.02) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be given 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 1.73%. Apache Corp.’s dividend payout ratio (DPR) is presently -4.42%.
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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