JPMorgan Chase & Co. set a $35.00 target price on Apache (NYSE:APA) in a research note published on Friday morning. The brokerage currently has a sell rating on the energy company’s stock.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Apache from a hold rating to a buy rating and set a $54.00 price objective for the company in a report on Thursday, September 27th. Stifel Nicolaus reaffirmed a hold rating and set a $49.00 price target on shares of Apache in a report on Wednesday, October 24th. Edward Jones downgraded shares of Apache from a buy rating to a hold rating in a report on Tuesday, September 18th. Mizuho reaffirmed a hold rating and set a $47.00 price target on shares of Apache in a report on Monday, October 22nd. Finally, 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 report on Tuesday, September 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $45.77.
NYSE APA opened at $33.01 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 137.54, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. Apache has a 12-month low of $32.96 and a 12-month high of $50.03.
Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.16. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.89 billion. Apache had a net margin of 12.11% and a return on equity of 7.71%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, research analysts forecast that Apache will post 2.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Monday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Friday, October 19th. Apache’s dividend payout ratio is 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 shares were sold at an average price of $47.48, for a total transaction of $290,150.28. Following the completion of the transaction, the insider now directly owns 30,548 shares in the company, valued at approximately $1,450,419.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation acquired a new position in Apache during the 3rd quarter worth approximately $103,000. Field & Main Bank acquired a new position in Apache during the 3rd quarter worth approximately $120,000. Dorsey & Whitney Trust CO LLC acquired a new position in Apache during the 3rd quarter worth approximately $205,000. Rand Wealth LLC acquired a new position in Apache during the 3rd quarter worth approximately $209,000. Finally, Wesbanco Bank Inc. acquired a new position in Apache during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds 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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