Apache Corporation (APA) Expected to Post Q4 2017 Earnings of $0.15 Per Share
Apache Corporation (NYSE:APA) – Analysts at Capital One Financial Corporation lowered their Q4 2017 earnings estimates for Apache Corporation in a research note issued on Wednesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the energy company will post earnings of $0.15 per share for the quarter, down from their previous forecast of $0.20.
Several other analysts have also recently issued reports on APA. Bank of America Corporation restated a “buy” rating and issued a $57.00 target price (down from $60.00) on shares of Apache Corporation in a report on Thursday, May 11th. BMO Capital Markets restated a “hold” rating and issued a $53.00 target price on shares of Apache Corporation in a report on Monday, May 15th. Scotiabank restated a “hold” rating and issued a $58.00 target price on shares of Apache Corporation in a report on Monday, May 15th. Jefferies Group LLC restated a “sell” rating and issued a $40.00 target price on shares of Apache Corporation in a report on Wednesday, May 17th. Finally, Zacks Investment Research cut Apache Corporation from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. Apache Corporation has an average rating of “Hold” and a consensus price target of $56.27.
Shares of Apache Corporation (APA) opened at 40.73 on Friday. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The company has a 50-day moving average price of $43.28 and a 200-day moving average price of $48.13. The company’s market capitalization is $15.52 billion.
Apache Corporation (NYSE:APA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.26) earnings per share.
In other news, Director George D. Lawrence bought 900 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $42.49 per share, with a total value of $38,241.00. Following the purchase, the director now owns 38,445 shares in the company, valued at $1,633,528.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Lowe bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 5,500 shares of company stock worth $235,094. 0.48% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Fulton Bank N.A. lifted its stake in Apache Corporation by 0.6% during the 2nd quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock worth $494,000 after acquiring an additional 59 shares in the last quarter. Utah Retirement Systems raised its position in Apache Corporation by 0.6% in the 2nd quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock valued at $3,345,000 after purchasing an additional 400 shares in the last quarter. ARGA Investment Management LP raised its position in Apache Corporation by 27.8% in the 2nd quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after purchasing an additional 19,300 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Apache Corporation in the 1st quarter valued at about $48,518,000. Finally, Lee Danner & Bass Inc. raised its position in Apache Corporation by 1.5% in the 2nd quarter. Lee Danner & Bass Inc. now owns 83,237 shares of the energy company’s stock valued at $3,990,000 after purchasing an additional 1,200 shares in the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.
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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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