Apache (NYSE:APA) has been given a $35.00 target price by equities researchers at Jefferies Group in a research note issued to investors on Wednesday. The firm currently has a “sell” rating on the energy company’s stock. Jefferies Group’s target price suggests a potential downside of 15.17% from the company’s current price. Jefferies Group also issued estimates for Apache’s Q1 2019 earnings at $0.36 EPS, Q2 2019 earnings at $0.33 EPS and FY2019 earnings at $1.39 EPS.
Several other analysts have also recently commented on the stock. Credit Suisse Group began coverage on shares of Apache in a research note on Monday, December 11th. They issued a “neutral” rating and a $40.00 price target on the stock. Barclays boosted their price target on shares of Apache from $26.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Scotiabank set a $49.00 price target on shares of Apache and gave the stock a “hold” rating in a research note on Monday, November 13th. BMO Capital Markets reiterated a “hold” rating and issued a $42.00 price target on shares of Apache in a research note on Tuesday, November 7th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $55.00 price target on shares of Apache in a research note on Tuesday, November 7th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.82.
Apache (NYSE:APA) traded up $1.01 on Wednesday, hitting $41.26. 2,913,700 shares of the company were exchanged, compared to its average volume of 3,598,010. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 1.53. Apache has a 52 week low of $38.14 and a 52 week high of $67.42.
In other news, insider P Anthony Lannie sold 19,514 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the sale, the insider now directly owns 37,469 shares in the company, valued at approximately $1,650,134.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owns 15,000 shares in the company, valued at approximately $600,300. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Hanson McClain Inc. bought a new position in Apache during the 2nd quarter valued at about $106,000. Valeo Financial Advisors LLC bought a new position in Apache during the 3rd quarter valued at about $135,000. Steward Partners Investment Advisory LLC bought a new position in Apache during the 3rd quarter valued at about $134,000. Gs Investments Inc. bought a new position in Apache during the 2nd quarter valued at about $149,000. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in Apache by 410.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock valued at $174,000 after purchasing an additional 2,923 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.
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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.
