Q1 2017 EPS Estimates for Apache Co. Reduced by Jefferies Group (APA)
Apache Co. (NYSE:APA) – Equities research analysts at Jefferies Group cut their Q1 2017 earnings estimates for Apache in a report released on Tuesday. Jefferies Group analyst M. Hsu now expects that the energy company will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.09. Jefferies Group also issued estimates for Apache’s Q2 2017 earnings at $0.13 EPS, Q3 2017 earnings at $0.29 EPS, Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $0.97 EPS, Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $1.09 EPS and FY2018 earnings at $3.35 EPS.
Several other analysts also recently weighed in on APA. Royal Bank of Canada restated a “hold” rating and set a $66.00 price objective on shares of Apache in a research report on Wednesday, January 4th. Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Monday, January 9th. BMO Capital Markets restated a “hold” rating and set a $65.00 price objective on shares of Apache in a research report on Wednesday, January 11th. Macquarie downgraded Apache from a “neutral” rating to an “underperform” rating and set a $51.00 price objective for the company. in a research report on Thursday, February 2nd. Finally, Scotiabank set a $66.00 price objective on Apache and gave the stock a “hold” rating in a research report on Saturday, February 25th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.40.
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Apache (NYSE:APA) opened at 49.19 on Thursday. Apache has a 12 month low of $48.05 and a 12 month high of $69.00. The company has a 50-day moving average price of $51.45 and a 200 day moving average price of $58.97. The company’s market capitalization is $18.68 billion. Apache also was the target of unusually large options trading on Monday. Investors acquired 175 put options on the stock. This represents an increase of 133% compared to the average daily volume of 75 put options.
Apache (NYSE:APA) last issued its earnings results on Thursday, February 23rd. The energy company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.07 by $0.13. The firm earned $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. Apache had a negative return on equity of 4.70% and a negative net margin of 166.56%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the business earned ($0.06) earnings per share.
A number of large investors have recently added to or reduced their stakes in the company. Private Wealth Advisors Inc. raised its position in shares of Apache by 0.5% in the third quarter. Private Wealth Advisors Inc. now owns 4,856 shares of the energy company’s stock valued at $310,000 after buying an additional 22 shares during the last quarter. HM Payson & Co. raised its position in shares of Apache by 0.8% in the third quarter. HM Payson & Co. now owns 7,718 shares of the energy company’s stock valued at $493,000 after buying an additional 59 shares during the last quarter. Regentatlantic Capital LLC raised its position in shares of Apache by 0.4% in the first quarter. Regentatlantic Capital LLC now owns 22,523 shares of the energy company’s stock valued at $1,157,000 after buying an additional 83 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its position in shares of Apache by 1.7% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,993 shares of the energy company’s stock valued at $308,000 after buying an additional 100 shares during the last quarter. Finally, Renaissance Investment Group LLC raised its position in shares of Apache by 0.6% in the first quarter. Renaissance Investment Group LLC now owns 24,154 shares of the energy company’s stock valued at $1,242,000 after buying an additional 140 shares during the last quarter. 93.38% of the stock is owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Friday, April 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, April 19th. This represents a $1.00 annualized dividend and a yield of 2.03%. Apache’s dividend payout ratio is currently -4.42%.
Apache Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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