Weekly Investment Analysts’ Ratings Updates for Apache Corporation (APA)
Several brokerages have updated their recommendations and price targets on shares of Apache Corporation (NYSE: APA) in the last few weeks:
- 10/11/2017 – Apache Corporation had its price target lowered by analysts at Barclays PLC from $30.00 to $26.00. They now have an “underweight” rating on the stock.
- 10/10/2017 – Apache Corporation had its “underperform” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $38.00 price target on the stock.
- 10/10/2017 – Apache Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Apache's stock price has fallen 27.8% since the start of this year, more than the Zacks U.S. Exploration & Production industry’s decline of 23.8%. While persistent weakness in crude prices due to a global supply glut continue to sent shockwaves through the industry, Apache’s tepid near-term production outlook is also a matter for concern. As it is, investors are disappointed that the much-hyped Alpine High discovery in west Texas will churn out more gas than oil. Increased capital spending unmatched by increased cash flows – leading to a free cash flow deficit – will hold back the stock as well. Lack of growth catalysts remain another major liability. Given these headwinds, we see Apache as a risky bet that ordinary investors should exit.”
- 10/10/2017 – Apache Corporation had its “hold” rating reaffirmed by analysts at Scotiabank. They now have a $49.00 price target on the stock.
- 10/10/2017 – Apache Corporation was given a new $45.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
- 10/5/2017 – Apache Corporation was given a new $42.00 price target on by analysts at Stifel Nicolaus. They now have a “hold” rating on the stock.
- 9/21/2017 – Apache Corporation had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein.
- 9/14/2017 – Apache Corporation was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating. They now have a $38.00 price target on the stock, down previously from $46.00.
- 8/29/2017 – Apache Corporation was given a new $35.00 price target on by analysts at Jefferies Group LLC. They now have a “sell” rating on the stock.
- 8/24/2017 – Apache Corporation was given a new $55.00 price target on by analysts at Royal Bank Of Canada. They now have a “hold” rating on the stock.
Apache Corporation (NYSE:APA) traded up 0.07% during trading on Tuesday, reaching $42.76. The company had a trading volume of 3,386,994 shares. The firm’s market capitalization is $16.29 billion. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The stock has a 50 day moving average price of $42.51 and a 200 day moving average price of $46.57.
Apache Corporation (NYSE:APA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted ($0.26) EPS. Apache Corporation’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that Apache Corporation will post $0.04 earnings per share for the current year.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. Apache Corporation’s payout ratio is presently -4,997.50%.
In other news, Director George D. Lawrence purchased 900 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the purchase, the director now directly owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John E. Lowe purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $40.32 per share, for a total transaction of $80,640.00. Following the completion of the purchase, 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 bought 5,500 shares of company stock worth $235,094 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.
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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