Apache Corporation (NYSE:APA) was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report released on Thursday, Marketbeat.com reports. They presently have a $38.00 target price on the energy company’s stock, down from their prior target price of $46.00. J P Morgan Chase & Co’s price objective would indicate a potential downside of 10.63% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Jefferies Group LLC set a $35.00 price target on shares of Apache Corporation and gave the company a “sell” rating in a research note on Tuesday, August 29th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $48.00 price target (down previously from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. BidaskClub raised shares of Apache Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Cowen and Company set a $50.00 price target on shares of Apache Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, Wolfe Research downgraded shares of Apache Corporation from a “market perform” rating to an “underperform” rating in a research note on Monday, July 17th. Nine research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $53.16.

Apache Corporation (NYSE APA) traded up 0.71% on Thursday, hitting $42.52. The company’s stock had a trading volume of 3,101,582 shares. The firm has a 50 day moving average of $41.94 and a 200 day moving average of $47.62. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The firm’s market cap is $16.20 billion.

Apache Corporation (NYSE:APA) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm posted ($0.26) EPS. The business’s revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Apache Corporation will post $0.04 earnings per share for the current fiscal year.

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In related news, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of $44.90 per share, with a total value of $112,250.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $449,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John E. Lowe acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the completion of the acquisition, the director now directly owns 12,000 shares of the company’s stock, valued at $483,840. The disclosure for this purchase can be found here. Insiders acquired 5,500 shares of company stock worth $235,094 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fulton Bank N.A. grew its holdings in shares of Apache Corporation by 0.6% during 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. Utah Retirement Systems grew its holdings in shares of Apache Corporation by 0.6% during the second quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock valued at $3,345,000 after buying an additional 400 shares during the last quarter. ARGA Investment Management LP grew its holdings in shares of Apache Corporation by 27.8% during the second quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after buying an additional 19,300 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Apache Corporation during the first quarter valued at $48,518,000. Finally, Hosking Partners LLP grew its holdings in shares of Apache Corporation by 97.4% during the second quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock valued at $4,336,000 after buying an additional 44,629 shares during 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.

Analyst Recommendations for Apache Corporation (NYSE:APA)

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