Apache Corporation (NYSE:APA) had its price objective reduced by analysts at Barclays PLC from $30.00 to $26.00 in a report released on Wednesday. The firm currently has an “underweight” rating on the energy company’s stock. Barclays PLC’s price objective would indicate a potential downside of 37.21% from the company’s current price.

Several other analysts have also recently issued reports on APA. Scotiabank set a $50.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. Stifel Nicolaus set a $42.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a research report on Thursday, October 5th. BidaskClub cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Citigroup Inc. decreased their target price on shares of Apache Corporation from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 15th. Finally, BMO Capital Markets set a $45.00 target price on shares of Apache Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $49.06.

Apache Corporation (NYSE:APA) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.26) earnings per share.

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In related news, Director John E. Lowe bought 2,500 shares of the company’s stock in a transaction on Monday, August 7th. The shares were acquired at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $449,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $40.32 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders acquired a total of 5,500 shares of company stock worth $235,094 over the last 90 days. Insiders own 0.48% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Griffin Asset Management Inc. bought a new position in shares of Apache Corporation during the second quarter valued at approximately $211,000. Gs Investments Inc. bought a new position in shares of Apache Corporation during the second quarter valued at approximately $149,000. Sentry Investment Management LLC boosted its stake in shares of Apache Corporation by 214.4% during the second quarter. Sentry Investment Management LLC now owns 92,158 shares of the energy company’s stock valued at $4,417,000 after purchasing an additional 62,841 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Apache Corporation by 25.8% during the second quarter. Toronto Dominion Bank now owns 128,867 shares of the energy company’s stock valued at $6,176,000 after purchasing an additional 26,409 shares in the last quarter. Finally, National Asset Management Inc. boosted its stake in shares of Apache Corporation by 47.7% during the second quarter. National Asset Management Inc. now owns 27,562 shares of the energy company’s stock valued at $1,322,000 after purchasing an additional 8,901 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

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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