Apache Corporation (APA) Rating Reiterated by BMO Capital Markets
Apache Corporation (NYSE:APA)‘s stock had its “hold” rating reissued by stock analysts at BMO Capital Markets in a research note issued on Tuesday. They currently have a $42.00 target price on the energy company’s stock. BMO Capital Markets’ price target suggests a potential downside of 7.06% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Apache Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Jefferies Group LLC set a $35.00 price target on Apache Corporation and gave the stock a “sell” rating in a report on Tuesday, August 29th. Wells Fargo & Company reissued a “market perform” rating and set a $48.00 price target (down previously from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. Cowen and Company set a $50.00 price target on Apache Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th. Finally, Wolfe Research cut Apache Corporation from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Apache Corporation has a consensus rating of “Hold” and a consensus target price of $47.82.
Shares of Apache Corporation (APA) traded down $0.55 during midday trading on Tuesday, reaching $45.19. The company’s stock had a trading volume of 3,548,774 shares, compared to its average volume of 3,800,000. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. Apache Corporation has a 52-week low of $38.14 and a 52-week high of $69.00.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. Apache Corporation had a negative return on equity of 0.70% and a net margin of 10.60%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm earned ($0.03) EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. equities research analysts forecast that Apache Corporation will post -0.04 EPS for the current fiscal year.
In related news, Director George D. Lawrence purchased 900 shares of the business’s 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 acquisition, the director now directly owns 38,445 shares of the company’s stock, valued at $1,633,528.05. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 12,000 shares of the company’s stock, valued at $483,840. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,000 shares of company stock valued at $122,844. 0.48% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans boosted its stake in Apache Corporation by 6.7% during the first quarter. Thrivent Financial For Lutherans now owns 14,020 shares of the energy company’s stock valued at $720,000 after buying an additional 880 shares during the period. Patten Group Inc. boosted its stake in Apache Corporation by 2.3% during the first quarter. Patten Group Inc. now owns 27,968 shares of the energy company’s stock valued at $1,472,000 after buying an additional 625 shares during the period. Clearbridge Investments LLC raised its position in Apache Corporation by 52.1% during the first quarter. Clearbridge Investments LLC now owns 1,536,963 shares of the energy company’s stock valued at $78,985,000 after purchasing an additional 526,793 shares in the last quarter. Cpcm LLC raised its position in Apache Corporation by 12.9% during the first quarter. Cpcm LLC now owns 6,531 shares of the energy company’s stock valued at $336,000 after purchasing an additional 747 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in Apache Corporation by 8.2% during the second quarter. Xact Kapitalforvaltning AB now owns 31,735 shares of the energy company’s stock valued at $1,521,000 after purchasing an additional 2,412 shares in the last quarter. 95.36% 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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