Apache (APA) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Apache (NYSE:APA) issued its quarterly earnings data on Thursday. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.01, Analyst RN reports. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The company’s revenue for the quarter was down 18.4% on a year-over-year basis.
A number of analysts have recently weighed in on APA shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Apache in a research note on Wednesday, July 23rd. They now have a $108.00 price target on the stock, up previously from $94.00. On the ratings front, analysts at RBC Capital raised their price target on shares of Apache from $102.00 to $110.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Apache in a research note on Friday, July 18th. They now have a $108.00 price target on the stock, up previously from $100.00. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $106.78.
Shares of Apache (NYSE:APA) opened at 101.29 on Thursday. Apache has a one year low of $75.07 and a one year high of $104.00. The stock has a 50-day moving average of $99.63 and a 200-day moving average of $88.46. The company has a market cap of $39.068 billion and a P/E ratio of 23.32.
Apache Corporation (NYSE:APA) is an independent energy company, which explores for, develops, and produces natural gas, crude oil, and natural gas liquids.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.