Apache Co. (NYSE:APA) – Equities research analysts at Capital One Financial cut their FY2019 earnings estimates for shares of Apache in a research report issued to clients and investors on Monday, December 3rd. Capital One Financial analyst R. Tullis now anticipates that the energy company will post earnings per share of $2.24 for the year, down from their prior forecast of $2.29.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $49.00 price target on shares of Apache in a research note on Thursday, August 30th. Stephens began coverage on Apache in a research note on Thursday. They issued a “buy” rating and a $50.00 price target on the stock. ValuEngine raised Apache from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $37.00 price target on shares of Apache in a research note on Tuesday, November 13th. Finally, Jefferies Financial Group decreased their price target on Apache to $31.00 and set an “underperform” rating on the stock in a research note on Thursday, November 15th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $46.29.
Shares of Apache stock opened at $33.90 on Wednesday. Apache has a 52 week low of $32.97 and a 52 week high of $50.03. The firm has a market capitalization of $13.30 billion, a PE ratio of 141.25, a price-to-earnings-growth ratio of 2.49 and a beta of 1.32. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.90.
Apache (NYSE:APA) last issued its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Apache had a return on equity of 7.71% and a net margin of 12.11%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Monday, October 22nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, October 19th. Apache’s payout ratio is 416.67%.
In related news, insider Rebecca A. Hoyt sold 6,111 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $47.48, for a total transaction of $290,150.28. Following the transaction, the insider now owns 30,548 shares of the company’s stock, valued at approximately $1,450,419.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of APA. Dimensional Fund Advisors LP lifted its stake in Apache by 71.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock worth $170,375,000 after acquiring an additional 1,512,960 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Apache by 62.6% during the 3rd quarter. Clearbridge Investments LLC now owns 2,481,181 shares of the energy company’s stock worth $118,278,000 after acquiring an additional 955,266 shares in the last quarter. Manitou Investment Management Ltd. acquired a new position in Apache during the 3rd quarter worth about $34,350,000. Morgan Stanley lifted its stake in Apache by 73.5% during the 3rd quarter. Morgan Stanley now owns 1,323,062 shares of the energy company’s stock worth $63,071,000 after acquiring an additional 560,279 shares in the last quarter. Finally, Dodge & Cox lifted its stake in Apache by 1.1% during the 3rd quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock worth $1,887,812,000 after acquiring an additional 415,850 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.
Apache Company Profile
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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