Stifel Nicolaus upgraded shares of Apache (NYSE:APA) from a hold rating to a buy rating in a research note published on Wednesday morning, BenzingaRatingsTable reports. They currently have $39.00 target price on the energy company’s stock, up from their prior target price of $22.00.
A number of other research analysts have also recently commented on the company. Bank of America raised Apache from a neutral rating to a buy rating and boosted their price target for the stock from $28.00 to $36.00 in a report on Tuesday, January 7th. KeyCorp initiated coverage on Apache in a report on Monday, October 28th. They issued a sector weight rating on the stock. Mitsubishi UFJ Financial Group reissued a neutral rating and issued a $28.00 price target (down from $39.00) on shares of Apache in a report on Tuesday, October 8th. ValuEngine raised Apache from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Barclays lowered their price target on Apache from $28.00 to $22.00 and set an underweight rating on the stock in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and an average target price of $29.08.
APA stock opened at $32.38 on Wednesday. Apache has a twelve month low of $18.33 and a twelve month high of $38.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.07. The stock has a market cap of $12.26 billion, a P/E ratio of 18.29 and a beta of 1.95. The business’s 50-day moving average price is $23.80 and its 200-day moving average price is $23.80.
Apache (NYSE:APA) last posted its quarterly earnings results on Wednesday, October 30th. The energy company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.10). Apache had a positive return on equity of 1.08% and a negative net margin of 14.78%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, equities research analysts expect that Apache will post -0.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. Apache’s dividend payout ratio (DPR) is 56.50%.
In other news, insider Wheals Rob acquired 4,505 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $11.06 per share, with a total value of $49,825.30. 0.69% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of APA. Evoke Wealth LLC purchased a new stake in shares of Apache during the 3rd quarter worth approximately $32,000. Bartlett & Co. LLC raised its holdings in shares of Apache by 56.2% during the 3rd quarter. Bartlett & Co. LLC now owns 1,390 shares of the energy company’s stock worth $36,000 after acquiring an additional 500 shares in the last quarter. Private Capital Group LLC purchased a new stake in shares of Apache during the 2nd quarter worth approximately $37,000. Parallel Advisors LLC raised its holdings in shares of Apache by 83.2% during the 3rd quarter. Parallel Advisors LLC now owns 1,773 shares of the energy company’s stock worth $45,000 after acquiring an additional 805 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its holdings in shares of Apache by 152.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,909 shares of the energy company’s stock worth $56,000 after acquiring an additional 1,154 shares in the last quarter. 95.34% of the stock is currently owned by institutional investors and hedge funds.
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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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