Stephens set a $55.00 price objective on Apache (NYSE:APA) in a report published on Thursday morning. The brokerage currently has a buy rating on the energy company’s stock.
A number of other research firms have also recently commented on APA. Stifel Nicolaus boosted their price target on shares of Apache from $46.00 to $51.00 and gave the stock a hold rating in a research note on Thursday, August 9th. Morgan Stanley cut their price target on shares of Apache from $42.00 to $41.00 and set a sell rating for the company in a research note on Tuesday, September 4th. Zacks Investment Research raised shares of Apache from a hold rating to a buy rating and set a $54.00 price target for the company in a research note on Thursday, July 12th. Cowen set a $48.00 price objective on shares of Apache and gave the company a hold rating in a research note on Thursday, July 19th. Finally, Scotiabank reaffirmed a hold rating and issued a $55.00 price objective on shares of Apache in a research note on Thursday, September 27th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. Apache currently has an average rating of Hold and an average price target of $46.85.
APA stock traded down $0.45 during midday trading on Thursday, reaching $35.94. The company had a trading volume of 7,072,421 shares, compared to its average volume of 4,075,067. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.36 and a quick ratio of 1.20. Apache has a 1 year low of $33.60 and a 1 year high of $50.03. The stock has a market cap of $14.32 billion, a PE ratio of 149.75, a P/E/G ratio of 2.83 and a beta of 1.19.
Apache (NYSE:APA) last released its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.57% and a return on equity of 5.21%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $0.04 EPS. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Apache will post 1.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.78%. Apache’s dividend payout ratio (DPR) is 416.67%.
In other news, insider Stephen J. Riney purchased 6,300 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was bought at an average cost of $43.51 per share, for a total transaction of $274,113.00. Following the acquisition, the insider now directly owns 42,184 shares of the company’s stock, valued at approximately $1,835,425.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dominic Ricotta sold 3,480 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $43.72, for a total transaction of $152,145.60. Following the sale, the vice president now owns 10,357 shares of the company’s stock, valued at $452,808.04. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Zions Bancorporation bought a new stake in Apache during the 3rd quarter valued at $103,000. Steward Partners Investment Advisory LLC raised its holdings in Apache by 575.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock valued at $104,000 after buying an additional 1,892 shares during the last quarter. Field & Main Bank bought a new stake in Apache during the 3rd quarter valued at $120,000. Dorsey & Whitney Trust CO LLC bought a new stake in Apache during the 3rd quarter valued at $205,000. Finally, Wesbanco Bank Inc. bought a new stake in Apache during the 2nd quarter valued at $207,000. Institutional investors own 96.72% of the company’s stock.
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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