FY2017 EPS Estimates for Apache Co. Reduced by Analyst (APA)

Apache Co. (NYSE:APA) – Seaport Global Securities lowered their FY2017 earnings per share estimates for Apache in a research note issued on Wednesday. Seaport Global Securities analyst M. Kelly now expects that the energy company will earn $0.13 per share for the year, down from their previous estimate of $0.35. Seaport Global Securities also issued estimates for Apache’s Q4 2017 earnings at $0.22 EPS.

Apache (NYSE:APA) last released its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company posted ($0.03) earnings per share. The business’s revenue was down 3.5% on a year-over-year basis.

A number of other equities analysts have also issued reports on the company. Zacks Investment Research lowered Apache from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Jefferies Group restated an “underperform” rating and issued a $38.00 price objective on shares of Apache in a research report on Tuesday, October 10th. Morgan Stanley raised their price objective on shares of Apache from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. JPMorgan Chase & Co. downgraded shares of Apache from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $46.00 to $38.00 in a research report on Thursday, September 14th. Finally, Barclays reduced their price objective on shares of Apache from $30.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, October 11th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.94.

Apache (NYSE APA) opened at $46.00 on Friday. 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 has a twelve month low of $38.14 and a twelve month high of $64.13. The stock has a market capitalization of $17,520.00, a PE ratio of 26.59, a P/E/G ratio of 10.18 and a beta of 1.05.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Monday, January 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%. Apache’s payout ratio is 57.80%.

In other news, insider P Anthony Lannie sold 19,514 shares of Apache stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the sale, the insider now directly owns 37,469 shares in the company, valued at approximately $1,650,134.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John E. Lowe purchased 3,000 shares of Apache stock in a transaction dated Wednesday, December 13th. The shares were bought at an average price of $40.02 per share, with a total value 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 disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of APA. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Apache by 658.0% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock valued at $355,991,000 after acquiring an additional 6,447,400 shares during the period. Harris Associates L P raised its position in shares of Apache by 14.3% during the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after purchasing an additional 2,343,985 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Apache during the 3rd quarter worth approximately $93,596,000. Orbis Allan Gray Ltd raised its position in shares of Apache by 11.5% during the 2nd quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after purchasing an additional 1,381,096 shares during the last quarter. Finally, Dodge & Cox raised its position in shares of Apache by 4.0% during the 2nd quarter. Dodge & Cox now owns 29,922,731 shares of the energy company’s stock worth $1,434,196,000 after purchasing an additional 1,152,395 shares during the last quarter. 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.

Earnings History and Estimates for Apache (NYSE:APA)

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