Jefferies Group Weighs in on Apache Corporation’s FY2017 Earnings (APA)
Apache Corporation (NYSE:APA) – Analysts at Jefferies Group reduced their FY2017 earnings estimates for Apache Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst M. Lear now forecasts that the energy company will post earnings of ($0.03) per share for the year, down from their previous estimate of $0.03. Jefferies Group currently has a “Underperform” rating and a $38.00 target price on the stock.
A number of other analysts also recently commented on the stock. Scotiabank set a $50.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Saturday, July 1st. Wolfe Research cut shares of Apache Corporation from a “market perform” rating to an “underperform” rating in a research note on Monday, July 17th. Wells Fargo & Company reissued a “market perform” rating and issued a $48.00 price target (down previously from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. Citigroup Inc. dropped their price target on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Finally, Zacks Investment Research cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Nine investment 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. The company currently has an average rating of “Hold” and an average price target of $49.06.
Shares of Apache Corporation (NYSE APA) opened at 41.41 on Friday. The company’s market capitalization is $15.77 billion. The firm’s 50-day moving average price is $42.39 and its 200-day moving average price is $46.71. Apache Corporation has a 12-month low of $38.14 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). The business 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%. Apache Corporation’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.26) earnings per share.
A number of large investors have recently made changes to their positions in APA. Invictus RG purchased a new position in Apache Corporation during the 1st quarter worth $100,000. Hanson McClain Inc. purchased a new position in Apache Corporation during the 2nd quarter worth $106,000. Parallel Advisors LLC grew its position in Apache Corporation by 7.4% during the 1st quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after purchasing an additional 161 shares during the last quarter. FNY Partners Fund LP grew its position in Apache Corporation by 500.0% during the 1st quarter. FNY Partners Fund LP now owns 3,000 shares of the energy company’s stock worth $154,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Apache Corporation during the 2nd quarter worth $142,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.
In related news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the purchase, the director now directly owns 12,000 shares of the company’s stock, valued at $483,840. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George D. Lawrence purchased 900 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the purchase, the director now directly owns 38,445 shares in the company, valued at $1,633,528.05. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,500 shares of company stock worth $235,094 over the last quarter. 0.48% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.41%. Apache Corporation’s dividend payout ratio is currently -4,997.50%.
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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