Apache (NYSE:APA) announced its quarterly earnings results on Wednesday. The energy company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.16, RTT News reports. Apache had a net margin of 12.57% and a return on equity of 5.21%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $0.04 EPS. Apache’s quarterly revenue was up 25.9% on a year-over-year basis.
Shares of Apache stock opened at $36.39 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.88. Apache has a fifty-two week low of $33.60 and a fifty-two week high of $50.03. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 151.63, a P/E/G ratio of 2.83 and a beta of 1.19.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio (DPR) is presently 416.67%.
Several analysts recently issued reports on APA shares. Macquarie raised shares of Apache from an “underperform” rating to a “neutral” rating in a report on Friday. Stephens set a $55.00 price objective on shares of Apache and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus set a $53.00 price objective on shares of Apache and gave the stock a “hold” rating in a report on Thursday. Cowen set a $48.00 price objective on shares of Apache and gave the stock a “hold” rating in a report on Thursday, July 19th. Finally, Mizuho reaffirmed a “hold” rating and set a $47.00 price objective on shares of Apache in a report on Monday, October 22nd. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.37.
In other Apache news, VP Dominic Ricotta sold 3,480 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $43.72, for a total value of $152,145.60. Following the completion of the sale, the vice president now directly owns 10,357 shares of the company’s stock, valued at approximately $452,808.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen J. Riney purchased 6,300 shares of Apache stock in a transaction on Monday, August 27th. The stock was bought at an average cost of $43.51 per share, with a total value of $274,113.00. Following the completion of the acquisition, the insider now owns 42,184 shares in the company, valued at $1,835,425.84. The disclosure for this purchase can be found here. 0.59% of the stock is owned by corporate insiders.
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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