Traders Purchase High Volume of Call Options on Apache Corporation (APA)
Apache Corporation (NYSE:APA) was the target of some unusual options trading activity on Wednesday. Traders purchased 1,516 call options on the company. This represents an increase of 470% compared to the average volume of 266 call options.
Shares of Apache Corporation (NYSE:APA) opened at $42.75 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.47 and a current ratio of 1.53.
Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.09. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.39 billion. Apache Corporation had a negative return on equity of 0.70% and a net margin of 10.60%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. analysts anticipate that Apache Corporation will post -0.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be given a $0.25 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.34%. Apache Corporation’s payout ratio is 57.47%.
APA has been the subject of a number of research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Apache Corporation in a report on Friday, July 7th. Wolfe Research downgraded shares of Apache Corporation from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Cowen and Company set a $50.00 price target on shares of Apache Corporation and gave the company a “hold” rating in a report on Tuesday, July 18th. Royal Bank Of Canada reissued a “hold” rating and issued a $55.00 price target on shares of Apache Corporation in a report on Thursday, July 20th. Finally, Citigroup Inc reduced their price target on shares of Apache Corporation from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Apache Corporation has an average rating of “Hold” and an average price target of $48.88.
In other news, Director John E. Lowe bought 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Lowe bought 2,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was 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 in the company, valued at approximately $483,840. The disclosure for this purchase can be found here. Insiders purchased a total of 5,500 shares of company stock worth $235,094 over the last quarter. 0.48% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Hanson McClain Inc. purchased a new position in Apache Corporation in the second quarter worth approximately $106,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Apache Corporation during the second quarter worth $142,000. Gs Investments Inc. acquired a new position in Apache Corporation during the second quarter worth $149,000. FNY Partners Fund LP lifted its stake in Apache Corporation by 500.0% during the first quarter. FNY Partners Fund LP now owns 3,000 shares of the energy company’s stock worth $154,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in Apache Corporation by 410.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after purchasing an additional 2,923 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.
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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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