Apache Corporation (APA) Price Target Lowered to $26.00 at Barclays PLC
Apache Corporation (NYSE:APA) had its target price lowered by research analysts at Barclays PLC from $30.00 to $26.00 in a research note issued to investors on Wednesday. The brokerage currently has an “underweight” rating on the energy company’s stock. Barclays PLC’s price target would indicate a potential downside of 38.77% from the stock’s previous close.
Several other analysts also recently commented on APA. BidaskClub raised Apache Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $64.00 price objective on shares of Apache Corporation in a research note on Friday, June 16th. Seaport Global Securities downgraded Apache Corporation from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $52.00 to $36.00 in a research note on Wednesday, June 21st. BMO Capital Markets set a $45.00 price objective on Apache Corporation and gave the stock a “hold” rating in a research note on Monday, June 26th. Finally, Scotiabank set a $50.00 price objective on Apache Corporation and gave the stock a “hold” rating in a research note on Saturday, July 1st. Nine equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Apache Corporation has a consensus rating of “Hold” and an average target price of $49.06.
Shares of Apache Corporation (NYSE APA) traded down 0.16% during trading on Wednesday, hitting $42.39. The company had a trading volume of 1,919,941 shares. The firm has a 50 day moving average of $42.30 and a 200 day moving average of $46.78. Apache Corporation has a 12-month low of $38.14 and a 12-month high of $69.00. The stock has a market cap of $16.15 billion, a PE ratio of 706.50 and a beta of 1.09.
Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.26) EPS. On average, analysts forecast that Apache Corporation will post $0.03 earnings per share for the current fiscal year.
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In related news, Director John E. Lowe acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $40.32 per share, for a total transaction of $80,640.00. Following the acquisition, the director now directly owns 12,000 shares of the company’s stock, valued at $483,840. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George D. Lawrence acquired 900 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $42.49 per share, with a total value of $38,241.00. Following the acquisition, the director now directly owns 38,445 shares in the company, valued at $1,633,528.05. The disclosure for this purchase can be found here. Insiders bought a total of 5,500 shares of company stock valued at $235,094 in the last 90 days. 0.48% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors 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% in the 2nd quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after acquiring an additional 59 shares in the last quarter. Utah Retirement Systems grew its holdings in shares of 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 acquiring an additional 400 shares in the last quarter. ARGA Investment Management LP grew its holdings in shares of 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 acquiring an additional 19,300 shares in the last quarter. Hosking Partners LLP grew its holdings in shares of Apache Corporation by 97.4% in the 2nd quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock valued at $4,336,000 after acquiring an additional 44,629 shares in the last quarter. Finally, Westpac Banking Corp grew its holdings in shares of Apache Corporation by 4.6% in the 2nd quarter. Westpac Banking Corp now owns 158,502 shares of the energy company’s stock valued at $7,597,000 after acquiring an additional 6,900 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.
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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