Traders Purchase High Volume of Apache Corp. Call Options (APA)
Apache Corp. (NYSE:APA) saw some unusual options trading activity on Friday. Stock investors bought 21,763 call options on the stock, Stock Ratings Network.com reports. This is an increase of approximately 406% compared to the typical volume of 4,300 call options.
A number of research firms have recently commented on APA. Analysts at Credit Suisse downgraded shares of Apache Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $102.00 price target on the stock, down previously from $104.00. Separately, analysts at Cowen and Company initiated coverage on shares of Apache Corp. in a research note on Monday, January 27th. They set a “market perform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Apache Corp. from $109.00 to $115.00 in a research note on Monday, January 13th. They now have an “overweight” rating on the stock. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $99.48.
Shares of Apache Corp. (NYSE:APA) traded up 3.00% during mid-day trading on Friday, hitting $83.39. 4,407,705 shares of the company’s stock traded hands. Apache Corp. has a 52-week low of $67.91 and a 52-week high of $94.84. The stock has a 50-day moving average of $83.39 and a 200-day moving average of $85.88. The company has a market cap of $33.292 billion and a P/E ratio of 12.08.
Apache Corp. (NYSE:APA) last released its earnings data on Thursday, February 13th. The company reported $1.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.80 by $0.23. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. The company’s quarterly revenue was down 18.6% on a year-over-year basis. Analysts expect that Apache Corp. will post $7.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, April 17th. This is a boost from Apache Corp.’s previous quarterly dividend of $0.20.
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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