Investors Purchase Large Volume of Apache Put Options (APA)

Apache Co. (NYSE:APA) was the target of some unusual options trading on Wednesday. Investors purchased 73,866 put options on the stock. This is an increase of approximately 4,994% compared to the average volume of 1,450 put options.

In related news, Director John E. Lowe bought 5,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average price of $30.25 per share, with a total value of $151,250.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $756,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Capital Investment Advisory Services LLC purchased a new position in shares of Apache during the 4th quarter valued at about $29,000. Heritage Trust Co raised its stake in shares of Apache by 704.4% during the 4th 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 last quarter. Truehand Inc purchased a new position in shares of Apache during the 4th quarter valued at about $38,000. Oregon Public Employees Retirement Fund raised its stake in shares of Apache by 2,492.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,958 shares of the energy company’s stock valued at $41,000 after buying an additional 1,045,998 shares during the last quarter. Finally, Rational Advisors LLC raised its stake in shares of Apache by 12,875.0% during the 4th 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 last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Several analysts have issued reports on the company. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, April 9th. BMO Capital Markets increased their target price on Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Citigroup increased their target price on Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Credit Suisse Group increased their target price on Apache from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Finally, ValuEngine raised Apache from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Apache has a consensus rating of “Hold” and an average price target of $41.82.

Shares of APA stock opened at $30.61 on Thursday. The firm has a market capitalization of $11.54 billion, a P/E ratio of 17.29, a PEG ratio of 4.70 and a beta of 1.72. The company has a quick ratio of 1.04, a current ratio of 1.23 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 issued its earnings results on Wednesday, May 1st. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Apache had a positive return on equity of 6.64% and a negative net margin of 2.08%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Analysts forecast that Apache will post 1.08 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.27%. Apache’s payout ratio is currently 56.50%.

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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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