Apache Corporation (APA) Given a $35.00 Price Target by Jefferies Group LLC Analysts
Apache Corporation (NYSE:APA) has been assigned a $35.00 price objective by Jefferies Group LLC in a research report issued on Tuesday. The brokerage currently has a “sell” rating on the energy company’s stock. Jefferies Group LLC’s price objective would indicate a potential downside of 11.05% from the stock’s previous close.
APA has been the subject of several other reports. Royal Bank Of Canada set a $55.00 target price on Apache Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. BMO Capital Markets set a $45.00 target price on Apache Corporation and gave the stock a “hold” rating in a research note on Monday, June 26th. Scotiabank set a $50.00 target price on Apache Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded Apache Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Finally, BidaskClub upgraded Apache Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.04.
Apache Corporation (NYSE APA) traded down 1.98% on Tuesday, reaching $38.57. 387,215 shares of the company traded hands. The stock’s market capitalization is $14.69 billion. Apache Corporation has a 52-week low of $38.55 and a 52-week high of $69.00. The firm has a 50 day moving average price of $45.27 and a 200 day moving average price of $49.16.
Apache Corporation (NYSE:APA) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Apache Corporation will post $0.06 EPS for the current year.
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In other Apache Corporation news, Director George D. Lawrence purchased 900 shares of the stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $42.49 per share, with a total value of $38,241.00. Following the acquisition, the director now owns 38,445 shares of the company’s stock, valued at $1,633,528.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Lowe purchased 2,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $40.32 per share, with a total value of $80,640.00. Following the acquisition, the director now directly owns 12,000 shares in the company, valued at approximately $483,840. The disclosure for this purchase can be found here. Insiders have bought a total of 5,500 shares of company stock valued at $235,094 in the last three months. 0.48% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Invictus RG acquired a new position in Apache Corporation during the first quarter worth approximately $100,000. Thompson Davis & CO. Inc. boosted its position in Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock worth $103,000 after buying an additional 506 shares during the period. Hanson McClain Inc. acquired a new position in Apache Corporation during the second quarter worth approximately $106,000. Parallel Advisors LLC boosted its position in Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Apache Corporation during the first quarter worth approximately $135,000. 95.04% of the stock is owned by institutional investors.
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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