Q3 2017 EPS Estimates for Apache Corporation Cut by Analyst (APA)
Apache Corporation (NYSE:APA) – Seaport Global Securities lowered their Q3 2017 earnings per share (EPS) estimates for shares of Apache Corporation in a research report issued on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will post earnings per share of ($0.07) for the quarter, down from their previous forecast of $0.04. Seaport Global Securities also issued estimates for Apache Corporation’s FY2017 earnings at ($0.03) EPS.
Apache Corporation (NYSE:APA) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.26) earnings per share.
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APA has been the subject of several other reports. Morgan Stanley upped their target price on Apache Corporation from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Royal Bank Of Canada set a $55.00 target price on Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 24th. Jefferies Group LLC restated an “underperform” rating and issued a $38.00 target price on shares of Apache Corporation in a report on Tuesday, October 10th. Scotiabank set a $50.00 target price on Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Barclays PLC dropped their target price on Apache Corporation from $30.00 to $26.00 and set an “underweight” rating for the company in a report on Wednesday, October 11th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $48.88.
Shares of Apache Corporation (NYSE APA) opened at 39.51 on Thursday. The company’s market capitalization is $15.05 billion. Apache Corporation has a 12 month low of $38.14 and a 12 month high of $69.00. The company has a 50-day moving average price of $42.85 and a 200-day moving average price of $46.00.
Large investors have recently added to or reduced their stakes in the stock. Fulton Bank N.A. grew its stake 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 buying an additional 59 shares during the last quarter. Utah Retirement Systems grew its stake in Apache Corporation by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock worth $3,345,000 after buying an additional 400 shares during the last quarter. ARGA Investment Management LP grew its stake in Apache Corporation by 27.8% during the 2nd quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock worth $4,258,000 after buying an additional 19,300 shares during the last quarter. Hosking Partners LLP grew its stake in Apache Corporation by 97.4% during the 2nd quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock worth $4,336,000 after buying an additional 44,629 shares during the last quarter. Finally, Mitchell Group Inc. grew its stake in Apache Corporation by 2.1% during the 2nd quarter. Mitchell Group Inc. now owns 593,457 shares of the energy company’s stock worth $28,444,000 after buying an additional 12,438 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.
In other Apache Corporation news, Director John E. Lowe acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $40.32 per share, for a total transaction of $80,640.00. Following the acquisition, the director now owns 12,000 shares in the company, valued at approximately $483,840. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George D. Lawrence acquired 900 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the acquisition, the director now owns 38,445 shares in the company, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. In the last quarter, insiders bought 5,500 shares of company stock worth $235,094. Company insiders own 0.48% of the company’s stock.
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 issued 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 2.53%. Apache Corporation’s payout ratio is currently -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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