Traders Buy Large Volume of Call Options on Apache Corporation (APA)
Apache Corporation (NYSE:APA) was the target of unusually large options trading on Friday. Investors bought 1,516 call options on the company. This is an increase of 470% compared to the average daily volume of 266 call options.
In related news, Director John E. Lowe acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $40.32 per share, with a total value of $80,640.00. Following the completion of the purchase, the director now directly owns 12,000 shares in the company, valued at $483,840. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George D. Lawrence bought 900 shares of Apache Corporation stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the acquisition, the director now owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Kanawha Capital Management LLC boosted its stake in Apache Corporation by 13.3% in the first quarter. Kanawha Capital Management LLC now owns 49,538 shares of the energy company’s stock worth $2,546,000 after buying an additional 5,811 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Apache Corporation by 11.9% in the first quarter. Janney Montgomery Scott LLC now owns 57,393 shares of the energy company’s stock worth $2,949,000 after buying an additional 6,112 shares during the period. North Point Portfolio Managers Corp OH increased its position in shares of Apache Corporation by 0.8% in the first quarter. North Point Portfolio Managers Corp OH now owns 156,471 shares of the energy company’s stock worth $8,041,000 after buying an additional 1,211 shares during the period. Delta Asset Management LLC TN increased its position in shares of Apache Corporation by 8.1% in the first quarter. Delta Asset Management LLC TN now owns 282,148 shares of the energy company’s stock worth $14,500,000 after buying an additional 21,252 shares during the period. Finally, Korea Investment CORP increased its position in shares of Apache Corporation by 4.1% in the first quarter. Korea Investment CORP now owns 306,056 shares of the energy company’s stock worth $15,728,000 after buying an additional 12,008 shares during the period. Hedge funds and other institutional investors own 93.72% of the company’s stock.
Several research firms have weighed in on APA. Scotiabank reiterated a “hold” rating and set a $58.00 target price on shares of Apache Corporation in a report on Monday, May 15th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 target price on shares of Apache Corporation in a report on Monday, May 15th. Wolfe Research lowered Apache Corporation from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Wells Fargo & Company reiterated a “market perform” rating and set a $48.00 target price (down from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. Finally, Citigroup Inc. reduced their target price on Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Eight analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $56.26.
Shares of Apache Corporation (APA) opened at 40.06 on Monday. The company’s 50-day moving average price is $45.27 and its 200 day moving average price is $49.16. The company’s market cap is $15.26 billion. Apache Corporation has a 12-month low of $39.04 and a 12-month high of $69.00.
Apache Corporation (NYSE:APA) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.22. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company earned ($0.26) EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts predict that Apache Corporation will post $0.06 earnings per share for the current year.
Apache Corporation Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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