Apache Corp. Given New $99.00 Price Target at Global Hunter Securities (APA)
Analysts at Global Hunter Securities raised their price objective on shares of Apache Corp. (NYSE:APA) from $98.00 to $99.00 in a research report issued to clients and investors on Wednesday, ARN reports. The firm currently has a “neutral” rating on the stock. Global Hunter Securities’ price target indicates a potential upside of 9.45% from the stock’s previous close.
In other Apache Corp. news, Insider John R. Bedingfield sold 5,000 shares of the stock on the open market in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on APA. Analysts at ISI Group downgraded shares of Apache Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, October 21st. Separately, analysts at Oppenheimer upgraded shares of Apache Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, September 17th. They now have a $100.00 price target on the stock, up previously from $87.00. Finally, analysts at Credit Suisse raised their price target on shares of Apache Corp. from $100.00 to $104.00 in a research note to investors on Monday, September 16th. They now have an “outperform” rating on the stock. Sixteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $99.19.
Shares of Apache Corp. (NYSE:APA) traded up 0.76% during mid-day trading on Wednesday, hitting $90.45. 1,707,289 shares of the company’s stock traded hands. Apache Corp. has a one year low of $67.91 and a one year high of $93.75. The stock has a 50-day moving average of $82.09 and a 200-day moving average of $79.72. The company has a market cap of $35.223 billion and a P/E ratio of 14.00.
Apache Corp. (NYSE:APA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $2.01 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $2.01. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Apache Corp. will post $8.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, October 18th.
Apache Corporation (NYSE:APA) is an independent energy company, which explores for, develops, and produces natural gas, crude oil, and natural gas liquids.
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