Apache Corporation (APA) Expected to Announce Quarterly Sales of $1.40 Billion
Brokerages expect that Apache Corporation (NYSE:APA) will post $1.40 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Apache Corporation’s earnings. The highest sales estimate is $1.51 billion and the lowest is $1.31 billion. Apache Corporation posted sales of $1.44 billion during the same quarter last year, which suggests a negative year over year growth rate of 2.8%. The company is expected to issue its next earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Apache Corporation will report full-year sales of $1.40 billion for the current fiscal year, with estimates ranging from $5.79 billion to $6.33 billion. For the next year, analysts anticipate that the firm will report sales of $6.29 billion per share, with estimates ranging from $4.85 billion to $7.74 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Apache Corporation.
Apache Corporation (NYSE:APA) last issued its quarterly earnings results 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 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 previous year, the business posted ($0.26) EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis.
A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $55.00 target price on shares of Apache Corporation in a research note on Thursday, July 20th. Cowen and Company set a $50.00 target price on Apache Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Zacks Investment Research lowered Apache Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Stifel Nicolaus initiated coverage on Apache Corporation in a research note on Tuesday, July 4th. They issued a “hold” rating and a $54.00 target price on the stock. Finally, Wolfe Research lowered 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, ten have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.88.
In other Apache Corporation news, Director John E. Lowe bought 2,500 shares of the stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $449,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George D. Lawrence bought 900 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $42.49 per share, with a total value 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 $1,633,528.05. The disclosure for this purchase can be found here. Insiders have bought 5,500 shares of company stock valued at $235,094 over the last 90 days. Insiders own 0.48% of the company’s stock.
Several institutional investors have recently made changes to their positions in APA. BlackRock Inc. grew its stake in shares of Apache Corporation by 3,551.6% during the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock valued at $1,490,509,000 after acquiring an additional 28,209,565 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Apache Corporation by 658.0% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock worth $355,991,000 after purchasing an additional 6,447,400 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Apache Corporation by 58.0% during the second quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock worth $595,767,000 after purchasing an additional 4,561,430 shares during the last quarter. Harris Associates L P lifted its position in shares of Apache Corporation by 14.3% during the second quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after purchasing an additional 2,343,985 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its position in shares of Apache Corporation by 11.5% during the second quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after purchasing an additional 1,381,096 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.
Apache Corporation (APA) opened at 40.30 on Tuesday. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The company’s market cap is $15.35 billion. The stock’s 50 day moving average is $42.93 and its 200 day moving average is $46.14.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. Apache Corporation’s dividend payout ratio is presently -4,997.50%.
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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