Apache Given New $115.00 Price Target at Raymond James (APA)
Investment analysts at Raymond James boosted their price objective on shares of Apache (NYSE:APA) from $100.00 to $115.00 in a note issued to investors on Tuesday. Raymond James’ target price would suggest a potential upside of 27.52% from the stock’s previous close.
Apache (NYSE:APA) traded down 0.27% on Tuesday, hitting $89.94. 720,912 shares of the company’s stock traded hands. Apache has a 52-week low of $75.07 and a 52-week high of $94.84. The stock has a 50-day moving average of $86.93 and a 200-day moving average of $85.42. The company has a market cap of $34.690 billion and a price-to-earnings ratio of 20.76. Apache also was the target of some unusual options trading activity on Monday. Stock investors acquired 5,401 put options on the company. This is an increase of approximately 108% compared to the typical volume of 2,595 put options.
Apache (NYSE:APA) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.62 by $0.28. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the company posted $2.02 earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, analysts predict that Apache will post $7.00 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Tuesday, July 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 1.11%. The ex-dividend date of this dividend is Friday, July 18th.
APA has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Apache in a research note on Tuesday, May 13th. They set a “neutral” rating and a $94.00 price target on the stock. Separately, analysts at KLR Group raised their price target on shares of Apache from $6.00 to $121.00 in a research note on Monday, May 12th. Finally, analysts at TheStreet upgraded shares of Apache from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Fourteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $102.41.
In other Apache news, Insider Jon Jeppesen sold 7,622 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $90.05, for a total transaction of $686,361.10. Following the transaction, the insider now directly owns 69,785 shares of the company’s stock, valued at approximately $6,284,139. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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