Apache Corporation Target of Unusually Large Options Trading (APA)
Apache Corporation (NYSE:APA) was the recipient of some unusual options trading activity on Friday. Stock traders bought 1,516 call options on the stock. This is an increase of approximately 470% compared to the typical daily volume of 266 call options.
A number of analysts have issued reports on the company. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Apache Corporation in a research report on Monday, May 15th. Jefferies Group LLC reissued a “sell” rating and issued a $40.00 target price on shares of Apache Corporation in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $55.00 target price on shares of Apache Corporation in a research report on Thursday, July 20th. Citigroup Inc. cut their target price on Apache Corporation from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 15th. Finally, BidaskClub raised Apache Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Eight analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.45.
In other news, Director George D. Lawrence purchased 900 shares of Apache Corporation stock in a transaction dated 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 transaction, the director now owns 38,445 shares in the company, valued at $1,633,528.05. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director John E. Lowe purchased 2,500 shares of Apache Corporation stock in a transaction dated 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 transaction, 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 ninety days, insiders have bought 5,500 shares of company stock worth $235,094. Corporate insiders own 0.48% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox increased its stake in Apache Corporation by 4.0% during the 2nd quarter. Dodge & Cox now owns 29,922,731 shares of the energy company’s stock worth $1,434,196,000 after buying an additional 1,152,395 shares during the period. BlackRock Inc. increased its stake in Apache Corporation by 3,551.6% during the 1st quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock worth $1,490,509,000 after buying an additional 28,209,565 shares during the period. Vanguard Group Inc. increased its stake in Apache Corporation by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,448,494 shares of the energy company’s stock worth $1,267,676,000 after buying an additional 128,836 shares during the period. State Street Corp increased its stake in Apache Corporation by 0.7% during the 2nd quarter. State Street Corp now owns 20,068,849 shares of the energy company’s stock worth $961,903,000 after buying an additional 130,520 shares during the period. Finally, Harris Associates L P increased its stake in Apache Corporation by 14.3% during the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after buying an additional 2,343,985 shares during the period. 95.05% of the stock is currently owned by hedge funds and other institutional investors.
Apache Corporation (NYSE APA) opened at 39.30 on Monday. The firm’s market cap is $14.97 billion. The company’s 50 day moving average is $43.00 and its 200-day moving average is $48.07. Apache Corporation has a 52 week low of $38.14 and a 52 week high of $69.00.
Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned ($0.26) EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that Apache Corporation will post $0.06 earnings per share for the current year.
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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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