Apache Sees Unusually Large Options Volume (APA)

Apache Co. (NYSE:APA) saw unusually large options trading on Wednesday. Traders acquired 75,723 call options on the company. This is an increase of approximately 2,000% compared to the typical volume of 3,605 call options.

A number of research analysts recently commented on the company. Raymond James set a $44.00 price target on Apache and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Credit Suisse Group boosted their price target on Apache from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. Zacks Investment Research raised Apache from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Morgan Stanley set a $27.00 price target on Apache and gave the company a “sell” rating in a research note on Tuesday, January 29th. Finally, Seaport Global Securities reaffirmed a “hold” rating on shares of Apache in a research note on Wednesday, January 30th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.82.

NYSE:APA opened at $30.61 on Thursday. The stock has a market cap of $11.54 billion, a PE ratio of 17.29, a PEG ratio of 4.70 and a beta of 1.72. The company has a current ratio of 1.23, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. Apache has a 1-year low of $24.56 and a 1-year high of $50.03.

Apache (NYSE:APA) last released its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Apache had a positive return on equity of 6.64% and a negative net margin of 2.08%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, sell-side analysts anticipate that Apache will post 1.08 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, April 18th. Apache’s payout ratio is presently 56.50%.

In related news, Director John E. Lowe purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $30.25 per share, with a total value of $151,250.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at $756,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC bought a new stake in Apache in the fourth quarter valued at approximately $29,000. Cribstone Capital Management LLC lifted its stake in Apache by 261.3% in the first quarter. Cribstone Capital Management LLC now owns 1,355 shares of the energy company’s stock valued at $47,000 after buying an additional 980 shares during the period. Truehand Inc acquired a new position in Apache in the fourth quarter valued at approximately $38,000. Heritage Trust Co lifted its stake in Apache by 704.4% in the fourth quarter. Heritage Trust Co now owns 1,448 shares of the energy company’s stock valued at $38,000 after buying an additional 1,268 shares during the period. Finally, Rational Advisors LLC lifted its stake in Apache by 12,875.0% in the fourth quarter. Rational Advisors LLC now owns 1,557 shares of the energy company’s stock valued at $41,000 after buying an additional 1,545 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

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About Apache

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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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