Apache Corp. (APA) Stock Price Up 5%
Apache Corp. (NYSE:APA)’s share price rose 5% during mid-day trading on Wednesday . The company traded as high as $60.42 and last traded at $60.37, with a volume of 3,547,830 shares traded. The stock had previously closed at $57.49.
APA has been the topic of a number of recent research reports. Iberia Capital increased their target price on Apache Corp. from $53.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 26th. Credit Agricole SA began coverage on Apache Corp. in a research report on Wednesday, June 22nd. They issued an “underperform” rating for the company. Wells Fargo & Co. reissued an “outperform” rating on shares of Apache Corp. in a research report on Wednesday, July 6th. Jefferies Group reissued a “sell” rating on shares of Apache Corp. in a research report on Thursday, August 4th. Finally, Barclays PLC lowered Apache Corp. from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $45.00 to $49.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. Apache Corp. currently has a consensus rating of “Hold” and a consensus target price of $57.44.
The stock’s market cap is $22.99 billion. The firm’s 50-day moving average price is $53.19 and its 200 day moving average price is $53.34.
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Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.09. The company earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The business’s quarterly revenue was down 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Equities analysts anticipate that Apache Corp. will post ($0.69) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, October 19th. Apache Corp.’s payout ratio is -2.78%.
A number of hedge funds have recently modified their holdings of APA. Orbis Allan Gray Ltd bought a new stake in shares of Apache Corp. during the first quarter worth approximately $746,349,000. FIL Ltd acquired a new position in Apache Corp. during the second quarter worth $227,262,000. Dodge & Cox raised its position in Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock worth $1,428,167,000 after buying an additional 3,245,030 shares during the period. Norges Bank acquired a new position in Apache Corp. during the fourth quarter worth $138,091,000. Finally, Franklin Resources Inc. raised its position in Apache Corp. by 11.2% in the first quarter. Franklin Resources Inc. now owns 15,268,708 shares of the energy company’s stock worth $745,272,000 after buying an additional 1,537,564 shares during the period. Institutional investors and hedge funds own 91.25% of the company’s stock.
About Apache Corp.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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