Insider Buying: Apache Co. (APA) Director Purchases 3,000 Shares of Stock

Apache Co. (NYSE:APA) Director John E. Lowe bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were acquired at an average price of $40.02 per share, for a total transaction of $120,060.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $600,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Apache Co. (NYSE:APA) traded up $0.08 during trading on Thursday, reaching $39.80. The company had a trading volume of 3,784,600 shares, compared to its average volume of 3,600,940. Apache Co. has a fifty-two week low of $38.14 and a fifty-two week high of $67.76. The company has a current ratio of 1.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95.

Apache (NYSE:APA) last issued its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ 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 had a negative return on equity of 0.70% and a net margin of 10.60%. Apache’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. sell-side analysts forecast that Apache Co. will post 0.02 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Hanson McClain Inc. purchased a new stake in shares of Apache during the second quarter valued at approximately $106,000. Steward Partners Investment Advisory LLC bought a new position in Apache in the third quarter worth $134,000. Valeo Financial Advisors LLC bought a new position in Apache in the third quarter worth $135,000. Gs Investments Inc. bought a new position in Apache in the second quarter worth $149,000. Finally, Bronfman E.L. Rothschild L.P. grew its stake in shares of Apache by 410.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after acquiring an additional 2,923 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on APA shares. Zacks Investment Research downgraded shares of Apache from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Jefferies Group set a $35.00 price objective on shares of Apache and gave the company a “sell” rating in a report on Tuesday, August 29th. Morgan Stanley upped their price target on shares of Apache from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. J P Morgan Chase & Co lowered shares of Apache from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $46.00 to $38.00 in a research report on Thursday, September 14th. Finally, Barclays cut their price objective on shares of Apache from $30.00 to $26.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 11th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $47.61.

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About Apache

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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