Stock Traders Buy High Volume of Call Options on Apache Corporation (APA)

Apache Corporation (NYSE:APA) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 1,516 call options on the company. This represents an increase of approximately 470% compared to the average daily volume of 266 call options.

Apache Corporation (APA) opened at $41.18 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. Apache Corporation has a 12 month low of $38.14 and a 12 month 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 (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. Apache Corporation’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. sell-side analysts expect that Apache Corporation will post -0.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be paid a $0.25 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.43%. Apache Corporation’s dividend payout ratio is currently 57.47%.

APA has been the subject of a number of research reports. Citigroup Inc. dropped their price objective on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and issued a $48.00 price objective (down previously from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. Scotiabank set a $50.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. BMO Capital Markets set a $45.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, BidaskClub cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Apache Corporation presently has a consensus rating of “Hold” and an average price target of $47.82.

Institutional investors and hedge funds have recently made changes to their positions in the business. Utah Retirement Systems increased its stake in Apache Corporation by 0.6% in the 2nd quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock valued at $3,345,000 after buying an additional 400 shares during the period. ARGA Investment Management LP increased its stake in Apache Corporation by 27.8% in the 2nd quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after buying an additional 19,300 shares during the period. Hosking Partners LLP grew its stake in shares of Apache Corporation by 97.4% during the 2nd quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock worth $4,336,000 after purchasing an additional 44,629 shares during the period. Mitchell Group Inc. grew its stake in shares of Apache Corporation by 2.1% during the 2nd quarter. Mitchell Group Inc. now owns 593,457 shares of the energy company’s stock worth $28,444,000 after purchasing an additional 12,438 shares during the period. Finally, Westpac Banking Corp grew its stake in shares of Apache Corporation by 4.6% during the 2nd quarter. Westpac Banking Corp now owns 158,502 shares of the energy company’s stock worth $7,597,000 after purchasing an additional 6,900 shares during the period. 94.98% of the stock is currently owned by institutional investors.

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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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