Apache Insider Sells $771,750 in Stock (APA)
Apache (NYSE:APA) Insider Roger B. Plank sold 9,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $85.75, for a total value of $771,750.00. Following the transaction, the insider now directly owns 123,098 shares of the company’s stock, valued at approximately $10,555,654. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Apache (NYSE:APA) traded down 1.68% during mid-day trading on Tuesday, hitting $82.91. 1,679,553 shares of the company’s stock traded hands. Apache has a 52 week low of $67.91 and a 52 week high of $94.84. The stock’s 50-day moving average is $83.04 and its 200-day moving average is $86.08. The company has a market cap of $32.832 billion and a P/E ratio of 15.33.
Apache (NYSE:APA) last announced its earnings results 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. On average, analysts predict that Apache will post $7.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, April 17th. This is an increase from Apache’s previous quarterly dividend of $0.20.
A number of research firms have recently commented on APA. Analysts at Thomson Reuters/Verus upgraded shares of Apache from a “hold” rating to a “buy” rating in a research note on Monday. Separately, analysts at TheStreet downgraded shares of Apache from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, analysts at Credit Suisse downgraded shares of Apache from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 11th. They now have a $102.00 price target on the stock, down previously from $104.00. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $99.48.
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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