Apache Corporation to Post Q3 2017 Earnings of ($0.01) Per Share, Jefferies Group Forecasts (APA)
Apache Corporation (NYSE:APA) – Investment analysts at Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for shares of Apache Corporation in a note issued to investors on Tuesday. Jefferies Group analyst M. Lear now expects that the energy company will earn ($0.01) per share for the quarter, down from their prior estimate of $0.01. Jefferies Group currently has a “Underperform” rating and a $38.00 target price on the stock. Jefferies Group also issued estimates for Apache Corporation’s Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.03 EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.06 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.45 EPS, Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.20 EPS and FY2019 earnings at $0.77 EPS.
Apache Corporation (NYSE:APA) last issued its quarterly earnings data 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 net margin of 0.07% and a negative return on equity of 1.03%. 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 firm posted ($0.26) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year.
A number of other equities research analysts also recently issued reports on APA. BidaskClub raised Apache Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reissued a “hold” rating and set a $64.00 price target on shares of Apache Corporation in a research report on Friday, June 16th. Seaport Global Securities downgraded Apache Corporation from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $52.00 to $36.00 in a research report on Wednesday, June 21st. BMO Capital Markets set a $45.00 price target on Apache Corporation and gave the stock a “hold” rating in a research report on Monday, June 26th. Finally, Scotiabank set a $50.00 price target on Apache Corporation and gave the stock a “hold” rating in a research report 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 given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $49.06.
Apache Corporation (NYSE:APA) opened at 41.96 on Thursday. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The firm has a 50-day moving average price of $42.36 and a 200 day moving average price of $46.75. The company’s market cap is $15.98 billion.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s payout ratio is -4,997.50%.
In other news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the purchase, the director now owns 12,000 shares of the company’s stock, valued at $483,840. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John E. Lowe purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $44.90 per share, with a total value of $112,250.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. Insiders bought a total of 5,500 shares of company stock valued at $235,094 over the last quarter. 0.48% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Beese Fulmer Investment Management Inc. raised its position in Apache Corporation by 0.4% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 6,016 shares of the energy company’s stock worth $288,000 after purchasing an additional 23 shares during the last quarter. Ray Gerald L & Associates Ltd. raised its position in Apache Corporation by 0.4% during the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 12,900 shares of the energy company’s stock worth $618,000 after purchasing an additional 50 shares during the last quarter. Tdam USA Inc. raised its position in Apache Corporation by 0.5% during the 2nd quarter. Tdam USA Inc. now owns 10,426 shares of the energy company’s stock worth $495,000 after purchasing an additional 55 shares during the last quarter. Huntington National Bank raised its position in Apache Corporation by 1.1% during the 2nd quarter. Huntington National Bank now owns 5,449 shares of the energy company’s stock worth $261,000 after purchasing an additional 58 shares during the last quarter. Finally, Fulton Bank N.A. raised its position 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 purchasing an additional 59 shares during the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.
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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