Q3 2017 Earnings Forecast for Apache Corporation (APA) Issued By Capital One Financial Corporation
Apache Corporation (NYSE:APA) – Analysts at Capital One Financial Corporation decreased their Q3 2017 earnings estimates for Apache Corporation in a research note issued to investors on Wednesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the energy company will earn $0.08 per share for the quarter, down from their previous estimate of $0.21. Capital One Financial Corporation also issued estimates for Apache Corporation’s FY2017 earnings at $0.11 EPS and FY2018 earnings at $0.30 EPS.
A number of other research analysts have also weighed in on APA. ValuEngine lowered Apache Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Scotiabank set a $50.00 price objective on Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered Apache Corporation from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Stifel Nicolaus initiated coverage on Apache Corporation in a report on Tuesday, July 4th. They issued a “hold” rating and a $54.00 price objective on the stock. Finally, Jefferies Group LLC set a $35.00 price objective on Apache Corporation and gave the company a “sell” rating in a report on Tuesday, August 29th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Apache Corporation presently has an average rating of “Hold” and an average price target of $55.45.
Shares of Apache Corporation (APA) opened at 39.30 on Monday. The company has a 50-day moving average price of $43.00 and a 200 day moving average price of $48.07. The company’s market capitalization is $14.97 billion. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00. Apache Corporation also saw some unusual options trading on Friday. Stock traders bought 1,516 call options on the company. This represents an increase of 470% compared to the typical volume of 266 call options.
Apache Corporation (NYSE:APA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the 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 business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the business posted ($0.26) earnings per share. Apache Corporation’s quarterly revenue was up .1% compared to the same quarter last year.
In other news, Director George D. Lawrence bought 900 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the transaction, the director now directly owns 38,445 shares in the company, valued at approximately $1,633,528.05. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John E. Lowe bought 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,000. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 5,500 shares of company stock worth $235,094. Company insiders own 0.48% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Invictus RG purchased a new position in Apache Corporation during the first quarter worth approximately $100,000. Thompson Davis & CO. Inc. lifted its position in Apache Corporation by 33.7% during 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 in the last quarter. Hanson McClain Inc. purchased a new position in Apache Corporation during the second quarter worth approximately $106,000. Parallel Advisors LLC lifted its position in Apache Corporation by 7.4% during 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 in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Apache Corporation during the first quarter worth approximately $135,000. Institutional investors and hedge funds own 95.05% of the company’s stock.
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. 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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