Apache Corporation (NYSE:APA) – Research analysts at Jefferies Group dropped their FY2017 earnings per share (EPS) estimates for shares of Apache Corporation in a research note issued to investors on Monday. Jefferies Group analyst M. Hsu now expects that the energy company will post earnings of $0.51 per share for the year, down from their prior forecast of $0.82. Jefferies Group has a “Sell” rating and a $40.00 price target on the stock.

A number of other brokerages also recently issued reports on APA. ValuEngine downgraded Apache Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Apache Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Scotiabank reissued a “hold” rating and set a $58.00 price target on shares of Apache Corporation in a research report on Friday, May 5th. Stifel Nicolaus started coverage on Apache Corporation in a research report on Tuesday, July 4th. They set a “hold” rating and a $54.00 price target on the stock. Finally, BMO Capital Markets reissued a “hold” rating and set a $53.00 price target on shares of Apache Corporation in a research report on Friday, May 5th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $56.26.

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Shares of Apache Corporation (NYSE:APA) opened at 40.63 on Thursday. The firm’s market cap is $15.48 billion. Apache Corporation has a 52 week low of $40.51 and a 52 week high of $69.00. The company has a 50-day moving average price of $46.72 and a 200 day moving average price of $50.04.

Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.26) EPS.

In related news, Director George D. Lawrence bought 900 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $42.49 per share, with a total value of $38,241.00. Following the transaction, the director now directly owns 38,445 shares in the company, valued at $1,633,528.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John E. Lowe bought 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $44.90 per share, with a total value of $112,250.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of Apache Corporation by 13.5% in the fourth quarter. Macquarie Group Ltd. now owns 11,800 shares of the energy company’s stock valued at $749,000 after buying an additional 1,400 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Apache Corporation during the first quarter valued at about $457,000. Beese Fulmer Investment Management Inc. raised its position in shares of Apache Corporation 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 in the last quarter. Reliance Trust Co. of Delaware raised its position in shares of Apache Corporation by 141.3% in the first quarter. Reliance Trust Co. of Delaware now owns 9,764 shares of the energy company’s stock valued at $502,000 after buying an additional 5,717 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Apache Corporation by 167.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,551 shares of the energy company’s stock valued at $285,000 after buying an additional 3,475 shares in the last quarter. 93.72% of the stock is owned by institutional investors and hedge funds.

About Apache Corporation

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.

Earnings History and Estimates for Apache Corporation (NYSE:APA)

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