Apache Co. (NYSE:APA) – Investment analysts at Seaport Global Securities lifted their FY2017 earnings per share (EPS) estimates for Apache in a research note issued on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will post earnings per share of $0.35 for the year, up from their prior forecast of ($0.03). Seaport Global Securities also issued estimates for Apache’s Q4 2017 earnings at $0.44 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.44 EPS and FY2018 earnings at $2.07 EPS.
A number of other research firms have also weighed in on APA. Scotiabank reissued a “hold” rating and set a $49.00 price objective on shares of Apache in a research note on Tuesday, October 10th. Zacks Investment Research lowered Apache from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Jefferies Group reaffirmed an “underperform” rating and issued a $38.00 price target on shares of Apache in a research note on Tuesday, October 10th. Stifel Nicolaus set a $42.00 price target on Apache and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $55.00 price target on shares of Apache in a research note on Tuesday, November 7th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.94.
Shares of Apache (APA) traded up $1.16 on Thursday, hitting $47.16. The company had a trading volume of 3,728,015 shares, compared to its average volume of 3,590,000. The stock has a market capitalization of $17,970.00, a PE ratio of 27.26, a price-to-earnings-growth ratio of 10.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37. Apache has a 52-week low of $38.14 and a 52-week high of $64.13.
Apache (NYSE:APA) last issued its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. Apache 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 business earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, January 19th. Apache’s payout ratio is 57.80%.
In related news, Director John E. Lowe purchased 3,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were bought at an average price of $40.02 per share, for a total transaction of $120,060.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $600,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider P Anthony Lannie sold 19,514 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $44.04, for a total value of $859,396.56. Following the sale, the insider now owns 37,469 shares in the company, valued at approximately $1,650,134.76. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Utah Retirement Systems increased its holdings in Apache by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock worth $3,345,000 after purchasing an additional 400 shares during the period. ARGA Investment Management LP increased its holdings in Apache by 27.8% during the 2nd quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock worth $4,258,000 after purchasing an additional 19,300 shares during the period. Hosking Partners LLP increased its holdings in Apache 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. increased its holdings in Apache 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 increased its holdings in Apache 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. Institutional investors own 94.56% of the company’s stock.
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Apache 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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