Q3 2017 Earnings Forecast for Apache Corporation Issued By Jefferies Group (APA)
Apache Corporation (NYSE:APA) – Equities researchers at Jefferies Group cut their Q3 2017 earnings estimates for Apache Corporation in a report released on Monday. Jefferies Group analyst M. Hsu now expects that the energy company will earn $0.28 per share for the quarter, down from their previous forecast of $0.31. Jefferies Group has a “Sell” rating and a $40.00 price objective on the stock. Jefferies Group also issued estimates for Apache Corporation’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.61 EPS and FY2018 earnings at $1.83 EPS.
A number of other equities research analysts have also recently weighed in on APA. Barclays PLC reiterated a “sell” rating and set a $41.00 price target (down from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated a “hold” rating and set a $63.00 price target on shares of Apache Corporation in a research report on Tuesday, April 25th. Zacks Investment Research lowered shares of Apache Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Apache Corporation in a research note on Friday, May 5th. Finally, Scotiabank reissued a “hold” rating and issued a $58.00 price objective on shares of Apache Corporation in a research note on Friday, May 5th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Apache Corporation currently has a consensus rating of “Hold” and an average price target of $56.26.
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Shares of Apache Corporation (NYSE APA) opened at 41.54 on Wednesday. The firm has a 50-day moving average of $46.88 and a 200 day moving average of $50.11. Apache Corporation has a 52-week low of $41.00 and a 52-week high of $69.00. The stock’s market capitalization is $15.82 billion.
Apache Corporation (NYSE:APA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. Apache Corporation’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned ($0.26) earnings per share.
A number of hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bank acquired a new position in shares of Apache Corporation during the first quarter worth approximately $100,000. Invictus RG acquired a new position in shares of Apache Corporation during the first quarter worth approximately $100,000. Thompson Davis & CO. Inc. boosted its position in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock worth $103,000 after buying an additional 506 shares during the last quarter. Hanson McClain Inc. acquired a new position in shares of Apache Corporation during the second quarter worth approximately $106,000. Finally, Parallel Advisors LLC boosted its position in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares during the last quarter. 93.72% of the stock is currently owned by institutional investors.
In related news, Director John E. Lowe acquired 2,500 shares of the business’s stock in a transaction on Monday, August 7th. The shares were bought at an average price of $44.90 per share, with a total value of $112,250.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $449,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George D. Lawrence acquired 900 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $42.49 per share, for a total transaction of $38,241.00. Following the acquisition, the director now owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.
Apache Corporation 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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