Apache Corporation (APA) Cut to Strong Sell at BidaskClub
Apache Corporation (NYSE:APA) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.
A number of other research firms have also commented on APA. Wells Fargo & Company reissued a “market perform” rating and issued a $48.00 target price (down previously from $55.00) on shares of Apache Corporation in a report on Saturday, July 22nd. ValuEngine lowered Apache Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Wolfe Research lowered Apache Corporation from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Cowen and Company set a $50.00 target price on Apache Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research raised Apache Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.26.
Shares of Apache Corporation (NYSE:APA) traded up 1.05% during trading on Thursday, hitting $40.31. The stock had a trading volume of 3,046,453 shares. The firm has a 50 day moving average price of $46.31 and a 200-day moving average price of $49.83. Apache Corporation has a 52 week low of $39.78 and a 52 week high of $69.00. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 671.83 and a beta of 1.01.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion for 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%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.26) EPS. On average, equities research analysts forecast that Apache Corporation will post $0.09 EPS for the current fiscal year.
In other Apache Corporation news, Director John E. Lowe bought 2,500 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were acquired at an average cost of $44.90 per share, with a total value of $112,250.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John E. Lowe bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the completion of the purchase, the director now directly owns 12,000 shares in the company, valued at $483,840. The disclosure for this purchase can be found here. Insiders acquired a total of 5,400 shares of company stock worth $231,131 over the last three months. Corporate insiders own 0.48% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in APA. Fulton Bank N.A. raised its stake in Apache Corporation by 0.6% in the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after buying an additional 59 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Apache Corporation during the first quarter valued at approximately $48,518,000. Lee Danner & Bass Inc. raised its stake in Apache Corporation by 1.5% in the second quarter. Lee Danner & Bass Inc. now owns 83,237 shares of the energy company’s stock valued at $3,990,000 after buying an additional 1,200 shares during the last quarter. Toronto Dominion Bank raised its stake in Apache Corporation by 56.6% in the first quarter. Toronto Dominion Bank now owns 102,458 shares of the energy company’s stock valued at $5,265,000 after buying an additional 37,028 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in Apache Corporation by 1.4% in the first quarter. Brandes Investment Partners LP now owns 1,169,745 shares of the energy company’s stock valued at $60,113,000 after buying an additional 15,617 shares during the last quarter. 93.72% of the stock is currently owned by hedge funds and other institutional investors.
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.
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