Apache Corp. (APA) Shares Gap Down on Insider Selling
Apache Corp. (NYSE:APA)’s share price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $62.94, but opened at $61.35. Apache Corp. shares last traded at $60.74, with a volume of 4,391,339 shares changing hands.
Specifically, insider James L. House sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $63.38, for a total transaction of $507,040.00. Following the transaction, the insider now owns 2,057 shares of the company’s stock, valued at $130,372.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rebecca A. Hoyt sold 3,356 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total transaction of $204,514.64. Following the transaction, the insider now directly owns 12,755 shares in the company, valued at approximately $777,289.70. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
A number of equities analysts have weighed in on APA shares. Jefferies Group reaffirmed a “sell” rating on shares of Apache Corp. in a research note on Thursday, August 4th. Barclays PLC downgraded shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $45.00 to $49.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Citigroup Inc. downgraded shares of Apache Corp. from a “buy” rating to a “neutral” rating and cut their price target 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. Vetr raised 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. 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. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. Apache Corp. currently has an average rating of “Hold” and an average target price of $58.83.
The company has a 50 day moving average price of $60.90 and a 200-day moving average price of $56.91. The company’s market cap is $23.05 billion.
Apache Corp. (NYSE:APA) last released its 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 firm earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Apache Corp. had a negative net margin of 166.56% and a negative return on equity of 4.70%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. Analysts anticipate that Apache Corp. will post ($1.00) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.65%. The ex-dividend date was Wednesday, October 19th. Apache Corp.’s payout ratio is currently -4.42%.
Institutional investors have recently added to or reduced their stakes in the stock. Mizuho Trust & Banking Co. Ltd. boosted its position 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 during 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. Ardevora Asset Management LLP acquired a new stake in shares of Apache Corp. during the second quarter valued at about $18,076,000. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Apache Corp. during the second quarter valued at about $16,701,000. Hedge funds and other institutional investors own 91.83% 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).
Receive News & Stock Ratings for Apache Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache Corp. and related stocks with our FREE daily email newsletter.