Apache Co. (NYSE:APA) had its target price lifted by Morgan Stanley from $45.00 to $46.00 in a research note issued to investors on Wednesday, October 18th. The firm currently has an equal weight rating on the energy company’s stock.
A number of other equities analysts also recently commented on APA. Scotiabank set a $50.00 price objective on shares of Apache and gave the stock a hold rating in a report on Saturday, July 1st. BidaskClub downgraded shares of Apache from a hold rating to a sell rating in a report on Saturday, August 5th. Citigroup Inc. reduced their price target on shares of Apache from $50.00 to $45.00 and set a neutral rating for the company in a report on Tuesday, August 15th. BMO Capital Markets set a $45.00 price target on shares of Apache and gave the company a hold rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus set a $42.00 price target on shares of Apache and gave the company a hold rating in a report on Thursday, October 5th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $48.88.
Shares of Apache (NYSE APA) opened at 39.59 on Wednesday. The stock’s market capitalization is $15.08 billion. The stock’s 50 day moving average is $42.85 and its 200 day moving average is $46.00. Apache has a 12 month low of $38.14 and a 12 month high of $69.00.
Apache (NYSE:APA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache had a return on equity of 34.54% and a net margin of 43.63%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.26) EPS. Analysts anticipate that Apache will post $0.02 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be issued a $0.25 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.53%. Apache’s dividend payout ratio is -4,997.50%.
In other news, Director John E. Lowe purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $44.90 per share, with a total value of $112,250.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Lowe purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $40.32 per share, with a total value of $80,640.00. Following the purchase, the director now owns 12,000 shares in the company, valued at approximately $483,840. The disclosure for this purchase can be found here. Insiders bought a total of 5,500 shares of company stock worth $235,094 in the last quarter. 0.48% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan boosted its position in Apache by 1.3% during the first quarter. Municipal Employees Retirement System of Michigan now owns 12,240 shares of the energy company’s stock worth $629,000 after purchasing an additional 160 shares during the period. FIL Ltd boosted its position in Apache by 1.0% during the first quarter. FIL Ltd now owns 5,187,065 shares of the energy company’s stock worth $266,563,000 after purchasing an additional 49,710 shares during the period. Bridgewater Associates LP boosted its position in shares of Apache by 1.4% in the first quarter. Bridgewater Associates LP now owns 98,500 shares of the energy company’s stock valued at $5,062,000 after acquiring an additional 1,400 shares during the period. Formula Growth Ltd. boosted its position in shares of Apache by 62.7% in the first quarter. Formula Growth Ltd. now owns 498,100 shares of the energy company’s stock valued at $25,597,000 after acquiring an additional 192,000 shares during the period. Finally, RE Advisers Corp bought a new stake in shares of Apache in the first quarter valued at approximately $15,380,000. 95.16% of the stock is owned by institutional investors and hedge funds.
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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