Stifel Nicolaus Reaffirms Hold Rating for Apache Co. (APA)
Apache Co. (NYSE:APA)‘s stock had its “hold” rating reissued by investment analysts at Stifel Nicolaus in a research note issued to investors on Friday. They currently have a $64.00 price target on the energy company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 32.81% from the company’s current price.
A number of other equities analysts have also recently issued reports on APA. Macquarie cut shares of Apache from a “neutral” rating to an “underperform” rating and set a $51.00 price objective on the stock. in a research report on Thursday, February 2nd. KLR Group reissued a “buy” rating and set a $79.00 price objective on shares of Apache in a research report on Monday, March 20th. Barclays PLC reissued a “sell” rating and set a $41.00 price objective (down previously from $50.00) on shares of Apache in a research report on Thursday, April 20th. Bank of America Corp cut shares of Apache to an “underperform” rating in a research report on Tuesday, February 28th. Finally, Zacks Investment Research cut shares of Apache from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Apache has an average rating of “Hold” and an average target price of $60.53.
Apache (NYSE:APA) traded up 1.01% on Friday, reaching $48.19. The company’s stock had a trading volume of 2,896,422 shares. The stock’s 50 day moving average price is $50.35 and its 200 day moving average price is $56.66. Apache has a 12 month low of $46.09 and a 12 month high of $69.00. The company’s market cap is $18.33 billion.
Apache (NYSE:APA) last issued its quarterly earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.08. Apache had a negative return on equity of 4.70% and a negative net margin of 166.56%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business posted ($0.40) earnings per share. Equities research analysts forecast that Apache will post $0.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. Apache’s dividend payout ratio is currently -4.42%.
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In other news, Director Rene R. Joyce bought 10,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $51.38 per share, with a total value of $513,800.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $513,800. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of APA. Dodge & Cox raised its stake in shares of Apache by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock valued at $1,428,167,000 after buying an additional 3,245,030 shares during the last quarter. BlackRock Inc. raised its stake in shares of Apache by 3,551.6% in the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock valued at $1,490,509,000 after buying an additional 28,209,565 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Apache by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,319,658 shares of the energy company’s stock valued at $1,352,568,000 after buying an additional 626,822 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Apache by 17.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,657,442 shares of the energy company’s stock valued at $1,007,576,000 after buying an additional 3,363,821 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Apache by 0.7% in the first quarter. State Street Corp now owns 19,938,329 shares of the energy company’s stock valued at $1,024,633,000 after buying an additional 146,990 shares during the last quarter. Institutional investors own 93.38% of the company’s stock.
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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