Insider Buying: Apache Corp. (APA) Director Buys $870,300.00 in Stock
Apache Corp. (NYSE:APA) Director Chansoo Joung purchased 15,000 shares of Apache Corp. stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of $58.02 per share, for a total transaction of $870,300.00. Following the purchase, the director now directly owns 45,285 shares in the company, valued at $2,627,435.70. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
Apache Corp. (NYSE:APA) opened at 57.72 on Monday. The stock’s 50 day moving average is $61.22 and its 200 day moving average is $56.24. The stock’s market capitalization is $21.90 billion. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00.
Apache Corp. (NYSE:APA) last announced its quarterly earnings results on Thursday, November 3rd. The energy company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. Apache Corp. had a negative net margin of 166.56% and a negative return on equity of 4.70%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) earnings per share. Equities research analysts forecast that Apache Corp. will post ($1.00) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.73%. Apache Corp.’s dividend payout ratio is currently -4.42%.
A number of research firms have commented on APA. Wolfe Research raised shares of Apache Corp. from an “underperform” rating to a “market perform” rating in a research report on Monday, September 12th. Jefferies Group reissued a “sell” rating on shares of Apache Corp. in a research report on Thursday, August 11th. Citigroup Inc. downgraded shares of Apache Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $55.00 to $53.00 in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Credit Suisse Group AG reissued a “hold” rating and set a $67.00 target price on shares of Apache Corp. in a research report on Monday, September 12th. Finally, Barclays PLC downgraded shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $45.00 to $49.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Apache Corp. has an average rating of “Hold” and an average target price of $58.78.
A number of institutional investors have recently made changes to their positions in APA. Mizuho Trust & Banking Co. Ltd. raised its position in shares of Apache Corp. by 0.9% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 649,119 shares of the energy company’s stock valued at $36,136,000 after buying an additional 5,670 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in shares of Apache Corp. during the first quarter valued at approximately $746,349,000. Legal & General Group Plc raised its position in shares of Apache Corp. by 7.4% in the first quarter. Legal & General Group Plc now owns 1,934,901 shares of the energy company’s stock valued at $94,439,000 after buying an additional 134,090 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Apache Corp. by 43.6% in the first quarter. Envestnet Asset Management Inc. now owns 92,870 shares of the energy company’s stock valued at $4,533,000 after buying an additional 28,204 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Apache Corp. by 40.9% in the second quarter. Retirement Systems of Alabama now owns 273,838 shares of the energy company’s stock valued at $15,245,000 after buying an additional 79,550 shares in the last quarter. Institutional investors own 91.34% of the company’s stock.
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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