Apache Co. (APA) Expected to Announce Quarterly Sales of $1.54 Billion
Brokerages expect that Apache Co. (NYSE:APA) will announce $1.54 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Apache’s earnings. The highest sales estimate is $1.73 billion and the lowest is $1.43 billion. Apache posted sales of $1.45 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The firm is scheduled to report its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Apache will report full year sales of $1.54 billion for the current financial year, with estimates ranging from $5.75 billion to $6.43 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.28 billion per share, with estimates ranging from $4.85 billion to $7.42 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Apache.
Apache (NYSE:APA) last announced its earnings results on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. Apache had a negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the business posted ($0.03) earnings per share. Apache’s revenue was down 3.5% compared to the same quarter last year.
In related news, insider P Anthony Lannie sold 19,514 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $44.04, for a total value of $859,396.56. Following the completion of the sale, the insider now directly owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its stake in shares of Apache by 6.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 366,596 shares of the energy company’s stock worth $17,572,000 after purchasing an additional 22,848 shares in the last quarter. ING Groep NV raised its stake in shares of Apache by 1.0% during the 2nd quarter. ING Groep NV now owns 11,230 shares of the energy company’s stock worth $538,000 after purchasing an additional 115 shares in the last quarter. NGAM Advisors L.P. raised its stake in shares of Apache by 11.3% during the 2nd quarter. NGAM Advisors L.P. now owns 139,540 shares of the energy company’s stock worth $6,688,000 after purchasing an additional 14,122 shares in the last quarter. IBM Retirement Fund raised its stake in shares of Apache by 119.6% during the 2nd quarter. IBM Retirement Fund now owns 9,302 shares of the energy company’s stock worth $498,000 after purchasing an additional 5,066 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Apache by 18.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 67,965 shares of the energy company’s stock worth $3,258,000 after purchasing an additional 10,572 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Apache (APA) traded up $2.39 during midday trading on Friday, hitting $44.22. The stock had a trading volume of 5,400,000 shares, compared to its average volume of 3,130,000. Apache has a twelve month low of $38.14 and a twelve month high of $69.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, October 20th. Apache’s dividend payout ratio is currently 57.47%.
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Apache 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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