Apache Co. (NYSE:APA) – Stock analysts at Seaport Global Securities raised their FY2018 earnings per share estimates for shares of Apache in a research report issued on Tuesday, December 4th. Seaport Global Securities analyst J. Aschenbeck now forecasts that the energy company will earn $2.07 per share for the year, up from their prior estimate of $1.86. Seaport Global Securities also issued estimates for Apache’s Q4 2018 earnings at $0.62 EPS.
A number of other equities research analysts have also weighed in on APA. ValuEngine upgraded Apache from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Stifel Nicolaus boosted their price target on Apache from $46.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 9th. KLR Group restated a “buy” rating and set a $54.00 price target on shares of Apache in a research note on Monday, August 20th. Morgan Stanley dropped their price target on Apache from $42.00 to $41.00 and set a “sell” rating on the stock in a research note on Tuesday, September 4th. Finally, TheStreet lowered Apache from a “b-” rating to a “c” rating in a research note on Thursday, September 13th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $46.52.
Shares of APA stock opened at $35.04 on Wednesday. Apache has a fifty-two week low of $33.60 and a fifty-two week high of $50.03. The stock has a market cap of $13.33 billion, a PE ratio of 146.00, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.10 and a current ratio of 1.26.
Apache (NYSE:APA) last issued its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.16. Apache had a return on equity of 7.71% and a net margin of 12.11%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The company’s revenue was up 25.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Monday, October 22nd were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.85%. Apache’s dividend payout ratio is currently 416.67%.
In related news, insider Rebecca A. Hoyt sold 6,111 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 30,548 shares in the company, valued at $1,450,419.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.59% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of APA. Dimensional Fund Advisors LP boosted its position in Apache by 71.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock valued at $170,375,000 after buying an additional 1,512,960 shares during the last quarter. Clearbridge Investments LLC boosted its position in Apache by 62.6% in the third quarter. Clearbridge Investments LLC now owns 2,481,181 shares of the energy company’s stock valued at $118,278,000 after buying an additional 955,266 shares during the last quarter. Manitou Investment Management Ltd. purchased a new stake in Apache in the third quarter valued at approximately $34,350,000. Morgan Stanley boosted its position in Apache by 73.5% in the third quarter. Morgan Stanley now owns 1,323,062 shares of the energy company’s stock valued at $63,071,000 after buying an additional 560,279 shares during the last quarter. Finally, Dodge & Cox boosted its position in Apache by 1.1% in the third quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock valued at $1,887,812,000 after buying an additional 415,850 shares during the last quarter. Hedge funds and other institutional investors own 96.02% 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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