Apache Corp. (APA) Expected to Post FY2016 Earnings of ($0.78) Per Share
Apache Corp. (NYSE:APA) – Credit Agricole SA issued their FY2016 earnings estimates for Apache Corp. in a report issued on Wednesday. Credit Agricole SA analyst A. Sen anticipates that the firm will post earnings per share of ($0.78) for the year. Credit Agricole SA currently has a “Underperform” rating on the stock. Credit Agricole SA also issued estimates for Apache Corp.’s Q3 2016 earnings at ($0.14) EPS, FY2017 earnings at $0.96 EPS and FY2018 earnings at $1.54 EPS.
Apache Corp. (NYSE:APA) last issued its earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $0.22 EPS. Apache Corp.’s quarterly revenue was down 38.5% on a year-over-year basis.
Several other equities research analysts have also weighed in on APA. Jefferies Group reissued a “sell” rating on shares of Apache Corp. in a research note on Thursday, August 4th. Barclays PLC increased their target price on Apache Corp. from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, September 13th. Morgan Stanley restated a “hold” rating and issued a $69.00 target price on shares of Apache Corp. in a report on Monday, September 26th. Vetr upgraded Apache Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Wednesday, August 10th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $67.00 target price on shares of Apache Corp. in a report on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $57.92.
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Shares of Apache Corp. (NYSE:APA) traded up 0.02% during midday trading on Friday, hitting $62.08. The stock had a trading volume of 1,280,035 shares. Apache Corp. has a 1-year low of $32.20 and a 1-year high of $66.00. The firm’s market cap is $23.55 billion. The firm has a 50-day moving average price of $58.78 and a 200-day moving average price of $54.92.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Orbis Allan Gray Ltd purchased a new position in Apache Corp. during the first quarter worth about $746,349,000. Legal & General Group Plc boosted its position in Apache Corp. by 7.4% in the first quarter. Legal & General Group Plc now owns 1,934,901 shares of the energy company’s stock worth $94,439,000 after buying an additional 134,090 shares during the period. Envestnet Asset Management Inc. boosted its position in Apache Corp. by 43.6% in the first quarter. Envestnet Asset Management Inc. now owns 92,870 shares of the energy company’s stock worth $4,533,000 after buying an additional 28,204 shares during the period. Retirement Systems of Alabama boosted its position in Apache Corp. by 40.9% in the second quarter. Retirement Systems of Alabama now owns 273,838 shares of the energy company’s stock worth $15,245,000 after buying an additional 79,550 shares during the period. Finally, BB&T Securities LLC boosted its position in Apache Corp. by 4.0% in the second quarter. BB&T Securities LLC now owns 22,584 shares of the energy company’s stock worth $1,256,000 after buying an additional 860 shares during the period. Institutional investors own 91.26% of the company’s stock.
In other news, insider Rebecca A. Hoyt sold 3,356 shares of Apache Corp. stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total value of $204,514.64. Following the completion of the transaction, the insider now owns 12,755 shares in the company, valued at $777,289.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is currently -2.78%.
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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