Apache Corporation (APA) Receives Average Recommendation of “Hold” from Brokerages
Shares of Apache Corporation (NYSE:APA) have received an average recommendation of “Hold” from the twenty-four brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $54.95.
A number of research analysts recently weighed in on the stock. Scotiabank restated a “hold” rating and set a $58.00 price objective on shares of Apache Corporation in a research report on Monday, May 15th. BMO Capital Markets restated a “hold” rating and set a $53.00 price objective on shares of Apache Corporation in a research report on Monday, May 15th. Wolfe Research downgraded shares of Apache Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Wells Fargo & Company restated a “market perform” rating and set a $48.00 price objective (down previously from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Finally, Citigroup Inc. lowered their price objective on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st.
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Shares of Apache Corporation (APA) opened at 39.76 on Tuesday. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00. The company’s 50-day moving average price is $42.84 and its 200-day moving average price is $47.92. The firm’s market capitalization is $15.15 billion.
Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) EPS. Analysts anticipate that Apache Corporation will post $0.06 EPS for the current year.
In other news, Director John E. Lowe acquired 2,000 shares of Apache Corporation stock in a transaction dated Thursday, August 17th. The stock was purchased 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 approximately $483,840. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George D. Lawrence acquired 900 shares of Apache Corporation stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $42.49 per share, with a total value of $38,241.00. Following the completion of the purchase, the director now owns 38,445 shares of the company’s stock, valued at $1,633,528.05. The disclosure for this purchase can be found here. Over the last three months, insiders bought 5,500 shares of company stock valued at $235,094. Corporate insiders own 0.48% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. increased its stake in shares of Apache Corporation by 0.6% in the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock worth $494,000 after purchasing an additional 59 shares in the last quarter. Utah Retirement Systems grew its stake in Apache Corporation by 0.6% during the second quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock valued at $3,345,000 after acquiring an additional 400 shares in the last quarter. ARGA Investment Management LP grew its stake in Apache Corporation by 27.8% during the second quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after acquiring an additional 19,300 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Apache Corporation during the first quarter valued at $48,518,000. Finally, Lee Danner & Bass Inc. grew its stake in Apache Corporation by 1.5% during the second quarter. Lee Danner & Bass Inc. now owns 83,237 shares of the energy company’s stock valued at $3,990,000 after acquiring an additional 1,200 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other 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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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