Apache Co. (NYSE:APA) – Equities researchers at Capital One Financial lifted their FY2017 earnings per share (EPS) estimates for Apache in a note issued to investors on Tuesday. Capital One Financial analyst R. Tullis now forecasts that the energy company will earn $0.19 per share for the year, up from their prior estimate of $0.13. Capital One Financial also issued estimates for Apache’s Q1 2018 earnings at $0.78 EPS and FY2018 earnings at $2.88 EPS.
Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Apache from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Stifel Nicolaus set a $41.00 price objective on shares of Apache and gave the stock a “hold” rating in a research report on Tuesday, January 30th. Morgan Stanley raised their price objective on shares of Apache from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Barclays reissued a “sell” rating and issued a $32.00 price target on shares of Apache in a research report on Sunday, December 24th. Finally, Royal Bank of Canada set a $51.00 price target on shares of Apache and gave the company a “hold” rating in a research report on Wednesday, December 20th. Nine analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $45.69.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Apache by 37.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,243,914 shares of the energy company’s stock worth $469,171,000 after purchasing an additional 2,816,600 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Apache by 0.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,593,344 shares of the energy company’s stock worth $164,575,000 after purchasing an additional 22,730 shares during the period. APG Asset Management N.V. raised its stake in shares of Apache by 19.9% during the 4th quarter. APG Asset Management N.V. now owns 3,394,463 shares of the energy company’s stock worth $119,349,000 after purchasing an additional 564,551 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Apache by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,980,740 shares of the energy company’s stock worth $136,518,000 after purchasing an additional 27,069 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Apache during the 3rd quarter worth $93,596,000. Institutional investors own 94.72% of the company’s stock.
In other Apache news, insider P Anthony Lannie sold 19,514 shares of Apache stock in a transaction 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 transaction, the insider now directly owns 37,469 shares of the company’s stock, valued at approximately $1,650,134.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Lowe acquired 3,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average cost of $40.02 per share, for a total transaction of $120,060.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $600,300. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Friday, January 19th. Apache’s dividend payout ratio is 57.47%.
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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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