Apache (APA) Given a $53.00 Price Target by Stifel Nicolaus Analysts

Stifel Nicolaus set a $53.00 price objective on Apache (NYSE:APA) in a research note published on Thursday morning. The brokerage currently has a hold rating on the energy company’s stock.

Other equities research analysts have also issued reports about the stock. TheStreet raised shares of Apache from a c rating to a b- rating in a report on Wednesday, August 1st. KLR Group reiterated a buy rating and set a $54.00 target price on shares of Apache in a research report on Monday, August 20th. Zacks Investment Research upgraded Apache from a hold rating to a buy rating and set a $54.00 target price for the company in a research report on Thursday, July 12th. Stephens set a $55.00 target price on Apache and gave the company a buy rating in a research report on Monday, September 24th. Finally, Raymond James reiterated a buy rating and set a $65.00 target price on shares of Apache in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. Apache has an average rating of Hold and an average price target of $46.85.

Shares of APA opened at $35.94 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90. Apache has a 1 year low of $33.60 and a 1 year high of $50.03. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 149.75, a P/E/G ratio of 2.69 and a beta of 1.35.

Apache (NYSE:APA) last announced its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm posted $0.04 EPS. The company’s revenue was up 25.9% on a year-over-year basis. Analysts forecast that Apache will post 1.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date 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 is currently 416.67%.

In related news, VP Dominic Ricotta sold 3,480 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was 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 in the company, valued at $452,808.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rebecca A. Hoyt sold 6,111 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $47.48, for a total value of $290,150.28. Following the completion of the sale, the insider now owns 30,548 shares of the company’s stock, valued at $1,450,419.04. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Boston Common Asset Management LLC lifted its position in Apache by 3.9% in the second quarter. Boston Common Asset Management LLC now owns 29,547 shares of the energy company’s stock worth $1,381,000 after buying an additional 1,120 shares during the last quarter. Butensky & Cohen Financial Security Inc. lifted its position in Apache by 4.5% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 26,455 shares of the energy company’s stock worth $1,237,000 after buying an additional 1,150 shares during the last quarter. World Asset Management Inc lifted its position in Apache by 4.6% in the second quarter. World Asset Management Inc now owns 26,245 shares of the energy company’s stock worth $1,227,000 after buying an additional 1,154 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its position in Apache by 4.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 25,509 shares of the energy company’s stock worth $1,193,000 after buying an additional 1,200 shares during the last quarter. Finally, Donald L. Hagan LLC lifted its position in Apache by 4.0% in the second quarter. Donald L. Hagan LLC now owns 32,083 shares of the energy company’s stock worth $1,500,000 after buying an additional 1,227 shares during the last quarter. Institutional investors own 96.62% of the company’s stock.

About Apache

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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