Zacks: Brokerages Anticipate Apache Co. (APA) Will Post Quarterly Sales of $1.54 Billion

Analysts expect that Apache Co. (NYSE:APA) will report $1.54 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Apache’s earnings. The lowest sales estimate is $1.44 billion and the highest is $1.65 billion. Apache posted sales of $1.45 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The firm is scheduled to issue its next earnings results on Thursday, February 22nd.

On average, analysts expect that Apache will report full-year sales of $1.54 billion for the current fiscal year, with estimates ranging from $5.77 billion to $6.43 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.55 billion per share, with estimates ranging from $5.94 billion to $7.35 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Apache.

Apache (NYSE:APA) last posted its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. Apache had a net margin of 10.60% and a negative return on equity of 0.70%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business posted ($0.03) earnings per share. The company’s revenue was down 3.5% on a year-over-year basis.

Several research firms have issued reports on APA. Credit Suisse Group began coverage on shares of Apache in a research report on Monday, December 11th. They set a “neutral” rating and a $40.00 price target for the company. Barclays upped their price target on shares of Apache from $26.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, November 20th. Scotiabank reiterated a “hold” rating and set a $49.00 target price on shares of Apache in a report on Tuesday, October 10th. Zacks Investment Research lowered shares of Apache from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Stifel Nicolaus set a $42.00 target price on shares of Apache and gave the stock a “hold” rating in a report on Thursday, October 5th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.94.

In other Apache news, insider P Anthony Lannie sold 19,514 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were 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 in the company, valued at $1,650,134.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Lowe acquired 3,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was bought at an average price of $40.02 per share, with a total value of $120,060.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at $600,300. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in Apache by 0.7% in the second quarter. Nordea Investment Management AB now owns 19,802 shares of the energy company’s stock worth $949,000 after buying an additional 143 shares during the period. Colonial Trust Advisors lifted its holdings in Apache by 0.9% in the second quarter. Colonial Trust Advisors now owns 22,605 shares of the energy company’s stock worth $1,083,000 after buying an additional 202 shares during the period. Thrivent Financial For Lutherans lifted its holdings in Apache by 2.6% in the second quarter. Thrivent Financial For Lutherans now owns 14,380 shares of the energy company’s stock worth $689,000 after buying an additional 360 shares during the period. Security National Bank of SO Dak lifted its holdings in Apache by 2.6% in the second quarter. Security National Bank of SO Dak now owns 21,529 shares of the energy company’s stock worth $1,032,000 after buying an additional 540 shares during the period. Finally, Security National Bank of Sioux City Iowa IA lifted its holdings in Apache by 2.5% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 25,294 shares of the energy company’s stock worth $1,212,000 after buying an additional 624 shares during the period. Institutional investors and hedge funds own 94.57% of the company’s stock.

Shares of Apache (NYSE:APA) opened at $46.05 on Monday. 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 1 year low of $38.14 and a 1 year high of $63.18. The stock has a market cap of $17,540.00, a PE ratio of 26.62, a price-to-earnings-growth ratio of 8.54 and a beta of 1.05.

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

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Anticipate Apache Co. (APA) Will Post Quarterly Sales of $1.54 Billion” was published by American Banking News and is owned by of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/01/22/zacks-brokerages-anticipate-apache-co-apa-will-post-quarterly-sales-of-1-54-billion.html.

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.

Get a free copy of the Zacks research report on Apache (APA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Apache (NYSE:APA)

Receive News & Ratings for Apache Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply