Analysts at Stephens started coverage on shares of Apache (NYSE:APA) in a research report issued on Thursday. The firm set a “buy” rating and a $50.00 price target on the energy company’s stock. Stephens’ target price would suggest a potential upside of 42.69% from the company’s previous close.
A number of other brokerages have also recently commented on APA. Piper Jaffray Companies cut shares of Apache from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Scotiabank reiterated a “hold” rating and set a $55.00 price target on shares of Apache in a research note on Thursday, September 27th. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Thursday, September 27th. 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. Finally, ValuEngine upgraded shares of Apache from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.29.
Shares of NYSE:APA opened at $35.04 on Thursday. Apache has a one year low of $33.60 and a one year high of $50.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.26 and a quick ratio of 1.10. The stock has a market capitalization of $13.30 billion, a PE ratio of 146.00, a price-to-earnings-growth ratio of 2.49 and a beta of 1.32.
Apache (NYSE:APA) last announced its earnings results on Wednesday, October 31st. The energy company reported $0.63 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 analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $0.04 earnings per share. The business’s revenue was up 25.9% compared to the same quarter last year. As a group, sell-side analysts predict that Apache will post 2.01 EPS for the current year.
In other news, insider Rebecca A. Hoyt sold 6,111 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $47.48, for a total transaction of $290,150.28. Following the transaction, the insider now directly owns 30,548 shares in the company, valued at $1,450,419.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.59% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of APA. Zions Bancorporation acquired a new position in Apache during the third quarter worth about $103,000. Field & Main Bank acquired a new stake in shares of Apache in the third quarter valued at approximately $120,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Apache in the third quarter valued at approximately $205,000. Wesbanco Bank Inc. acquired a new stake in shares of Apache in the second quarter valued at approximately $207,000. Finally, Mutual Advisors LLC acquired a new stake in shares of Apache in the second quarter valued at approximately $208,000. Institutional investors own 96.02% of the company’s stock.
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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