Stock Traders Purchase High Volume of Put Options on Apache (NYSE:APA)

Apache Co. (NYSE:APA) saw unusually large options trading activity on Wednesday. Investors acquired 73,818 put options on the company. This represents an increase of 3,936% compared to the average daily volume of 1,829 put options.

In related news, Director Juliet S. Ellis bought 3,500 shares of the business’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $27.26 per share, with a total value of $95,410.00. Following the transaction, the director now owns 3,500 shares in the company, valued at approximately $95,410. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Mark Meyer bought 2,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was bought at an average cost of $25.92 per share, with a total value of $51,840.00. Following the transaction, the executive vice president now owns 2,919 shares in the company, valued at approximately $75,660.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 10,500 shares of company stock valued at $298,500. 0.69% of the stock is owned by company insiders.

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

A number of equities research analysts have commented on APA shares. Zacks Investment Research raised shares of Apache from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Tuesday, April 9th. BMO Capital Markets lifted their target price on shares of Apache from $30.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Citigroup lifted their target price on shares of Apache from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Credit Suisse Group lifted their target price on shares of Apache from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Finally, Wolfe Research raised shares of Apache from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 3rd. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. Apache presently has a consensus rating of “Hold” and an average price target of $40.86.

Shares of APA stock opened at $28.01 on Thursday. Apache has a 1 year low of $24.56 and a 1 year high of $50.03. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.94. The firm has a market cap of $10.85 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 4.65 and a beta of 1.79.

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

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

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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.

See Also: What are Institutional Investors?

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