Apache Target of Unusually Large Options Trading (NYSE:APA)

Apache Co. (NYSE:APA) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 75,882 call options on the stock. This is an increase of 3,082% compared to the typical daily volume of 2,385 call options.

Several brokerages have recently weighed in on APA. Zacks Investment Research raised shares of Apache from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Monday, May 20th. Credit Suisse Group increased their price objective on shares of Apache from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Wolfe Research raised shares of Apache from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 3rd. BMO Capital Markets increased their price objective on shares of Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Citigroup upped their price target on shares of Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. Apache has a consensus rating of “Hold” and a consensus price target of $40.86.

Shares of Apache stock opened at $28.01 on Thursday. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 4.65 and a beta of 1.79. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 1.05. Apache has a 12-month low of $24.56 and a 12-month high of $50.03.

Apache (NYSE:APA) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Apache had a negative net margin of 2.08% and a positive return on equity of 6.71%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. On average, analysts predict that Apache will post 1.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. Apache’s payout ratio is 56.50%.

In related news, Director John E. Lowe acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were bought at an average cost of $30.25 per share, with a total value of $151,250.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $756,250. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William Mark Meyer acquired 2,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $25.92 per share, for a total transaction of $51,840.00. Following the completion of the transaction, the executive vice president now directly owns 2,919 shares of the company’s stock, valued at $75,660.48. The disclosure for this purchase can be found here. Insiders have acquired 10,500 shares of company stock worth $298,500 over the last ninety days. Insiders own 0.69% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Courier Capital LLC boosted its stake in shares of Apache by 3.1% in the 1st quarter. Courier Capital LLC now owns 10,060 shares of the energy company’s stock valued at $349,000 after purchasing an additional 300 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Apache by 1.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,494 shares of the energy company’s stock valued at $774,000 after purchasing an additional 358 shares in the last quarter. Hoertkorn Richard Charles boosted its stake in shares of Apache by 0.6% in the 1st quarter. Hoertkorn Richard Charles now owns 80,340 shares of the energy company’s stock valued at $2,785,000 after purchasing an additional 450 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Apache by 66.1% in the 1st quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock valued at $44,000 after purchasing an additional 508 shares in the last quarter. Finally, Tredje AP fonden boosted its stake in shares of Apache by 2.4% in the 4th quarter. Tredje AP fonden now owns 22,129 shares of the energy company’s stock valued at $581,000 after purchasing an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 96.50% of the company’s stock.

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

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