Apache Corp. to Post Q4 2016 Earnings of $0.20 Per Share, Jefferies Group Forecasts (APA)
Apache Corp. (NYSE:APA) – Research analysts at Jefferies Group dropped their Q4 2016 earnings per share (EPS) estimates for Apache Corp. in a report issued on Thursday. Jefferies Group analyst J. Wolff now anticipates that the firm will post earnings per share of $0.20 for the quarter, down from their previous forecast of $0.21. Jefferies Group currently has a “Sell” rating and a $48.00 target price on the stock. Jefferies Group also issued estimates for Apache Corp.’s Q1 2017 earnings at $0.27 EPS, Q2 2017 earnings at $0.39 EPS, Q4 2017 earnings at $0.68 EPS and FY2017 earnings at $1.85 EPS.
A number of other research firms have also commented on APA. Zacks Investment Research upgraded shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Thursday. Mitsubishi UFJ Financial Group began coverage on shares of Apache Corp. in a research note on Monday, September 26th. They set a “neutral” rating and a $64.00 price objective on the stock. Morgan Stanley restated a “hold” rating and set a $69.00 target price on shares of Apache Corp. in a report on Monday, September 26th. Barclays PLC raised their target price on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 13th. Finally, Atlantic Securities upgraded shares of Apache Corp. from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $70.00 in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $58.83.
Shares of Apache Corp. (NYSE:APA) opened at 62.08 on Friday. The stock’s 50 day moving average price is $61.22 and its 200-day moving average price is $56.24. The firm’s market capitalization is $23.55 billion. Apache Corp. has a 12-month low of $32.20 and a 12-month high of $66.00.
Apache Corp. (NYSE:APA) last released its quarterly earnings data on Thursday, November 3rd. The energy company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.13. The business earned $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS.
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 given a $0.25 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.61%. Apache Corp.’s dividend payout ratio is -4.42%.
In other Apache Corp. news, 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 in the company, valued at approximately $777,289.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John E. Lowe purchased 2,132 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was bought at an average price of $57.65 per share, for a total transaction of $122,909.80. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $432,375. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Mizuho Trust & Banking Co. Ltd. raised its stake in 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. Envestnet Asset Management Inc. raised its stake in 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. Retirement Systems of Alabama raised its stake 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 during the period. BB&T Securities LLC raised its stake in shares of Apache Corp. by 4.0% in the second quarter. BB&T Securities LLC now owns 22,584 shares of the energy company’s stock valued at $1,256,000 after buying an additional 860 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Apache Corp. during the second quarter valued at $16,701,000. 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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