Apache (APA) Coverage Initiated by Analysts at Cowen

Investment analysts at Cowen started coverage on shares of Apache (NYSE:APA) in a report released on Thursday, The Fly reports. The brokerage set a “market perform” rating on the energy company’s stock.

A number of other research firms have also weighed in on APA. Stephens set a $55.00 target price on shares of Apache and gave the stock a “buy” rating in a report on Monday, September 24th. Piper Jaffray Companies lowered shares of Apache from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Apache in a report on Thursday, September 27th. Zacks Investment Research raised shares of Apache from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Thursday, September 27th. Finally, Mitsubishi UFJ Financial Group boosted their target price on shares of Apache to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.85.

APA traded up $0.28 during trading on Thursday, reaching $35.54. 2,991,300 shares of the company’s stock were exchanged, compared to its average volume of 4,087,550. Apache has a one year low of $33.60 and a one year high of $50.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.26 and a quick ratio of 1.10. The firm has a market capitalization of $13.31 billion, a price-to-earnings ratio of 148.08, a PEG ratio of 2.53 and a beta of 1.35.

Apache (NYSE:APA) last posted its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities research analysts predict that Apache will post 1.98 EPS for the current year.

In other news, insider Rebecca A. Hoyt sold 6,111 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $47.48, for a total value of $290,150.28. Following the sale, the insider now directly owns 30,548 shares of the company’s stock, valued at approximately $1,450,419.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.

Several large investors have recently bought and sold shares of APA. Dimensional Fund Advisors LP boosted its stake in shares of Apache by 71.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock valued at $170,375,000 after purchasing an additional 1,512,960 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Apache by 62.6% during the 3rd quarter. Clearbridge Investments LLC now owns 2,481,181 shares of the energy company’s stock valued at $118,278,000 after acquiring an additional 955,266 shares during the period. Manitou Investment Management Ltd. acquired a new position in shares of Apache during the 3rd quarter valued at $34,350,000. Morgan Stanley lifted its position in shares of Apache by 73.5% during the 3rd quarter. Morgan Stanley now owns 1,323,062 shares of the energy company’s stock valued at $63,071,000 after acquiring an additional 560,279 shares during the period. Finally, Dodge & Cox lifted its position in shares of Apache by 1.1% during the 3rd quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock valued at $1,887,812,000 after acquiring an additional 415,850 shares during the period. 96.83% of the stock is currently owned by institutional investors.

Apache Company Profile

Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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