J P Morgan Chase & Co lowered shares of Apache Corporation (NYSE:APA) from a neutral rating to an underweight rating in a research report sent to investors on Thursday, MarketBeat.com reports. J P Morgan Chase & Co currently has $38.00 price objective on the energy company’s stock, down from their previous price objective of $46.00.

Several other equities research analysts have also commented on APA. Scotiabank set a $50.00 target price on Apache Corporation and gave the company a hold rating in a research report on Saturday, July 1st. BidaskClub lowered Apache Corporation from a hold rating to a sell rating in a report on Saturday, August 5th. Citigroup Inc. cut their price target on Apache Corporation from $50.00 to $45.00 and set a neutral rating on the stock in a report on Tuesday, August 15th. BMO Capital Markets set a $45.00 price target on Apache Corporation and gave the stock a hold rating in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a sell rating and issued a $40.00 price target on shares of Apache Corporation in a report on Wednesday, May 17th. Nine analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Apache Corporation has an average rating of Hold and a consensus target price of $53.16.

Shares of Apache Corporation (NYSE:APA) opened at 42.52 on Thursday. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The firm’s market cap is $16.20 billion. The company has a 50-day moving average price of $41.94 and a 200-day moving average price of $47.62.

Apache Corporation (NYSE:APA) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the 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 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 previous year, the company earned ($0.26) EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that Apache Corporation will post $0.04 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s payout ratio is -4,997.50%.

In other Apache Corporation news, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $40.32 per share, with a total value of $80,640.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $483,840. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George D. Lawrence purchased 900 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $42.49 per share, with a total value of $38,241.00. Following the completion of the transaction, the director now directly 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. Insiders have purchased 5,500 shares of company stock valued at $235,094 over the last ninety days. 0.48% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. increased its position in shares of Apache Corporation by 0.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 6,016 shares of the energy company’s stock valued at $288,000 after acquiring an additional 23 shares during the last quarter. Ray Gerald L & Associates Ltd. increased its position in shares of Apache Corporation by 0.4% during the second quarter. Ray Gerald L & Associates Ltd. now owns 12,900 shares of the energy company’s stock valued at $618,000 after acquiring an additional 50 shares during the last quarter. Tdam USA Inc. increased its position in shares of Apache Corporation by 0.5% during the second quarter. Tdam USA Inc. now owns 10,426 shares of the energy company’s stock valued at $495,000 after acquiring an additional 55 shares during the last quarter. Huntington National Bank increased its position in shares of Apache Corporation by 1.1% during the second quarter. Huntington National Bank now owns 5,449 shares of the energy company’s stock valued at $261,000 after acquiring an additional 58 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Apache Corporation by 0.6% during the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after acquiring an additional 59 shares during the last quarter. 95.05% 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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

Analyst Recommendations for Apache Corporation (NYSE:APA)

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