Research analysts at Credit Suisse Group assumed coverage on shares of Apache (NYSE:APA) in a note issued to investors on Monday, December 11th, Marketbeat reports. The firm set a “neutral” rating and a $40.00 price target on the energy company’s stock. Credit Suisse Group’s price objective suggests a potential downside of 6.78% from the stock’s previous close.
A number of other analysts have also recently weighed in on APA. Citigroup reduced their target price on shares of Apache from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, August 15th. BMO Capital Markets set a $45.00 target price on shares of Apache and gave the stock a “hold” rating in a report on Tuesday, October 10th. BidaskClub cut shares of Apache from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Bank of America raised their price objective on shares of Apache from $41.00 to $42.00 and gave the stock an “underperform” rating in a research note on Monday, November 6th. Finally, Scotiabank set a $49.00 price objective on shares of Apache and gave the stock a “hold” rating in a research note on Monday, November 13th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $45.94.
Shares of Apache (NYSE:APA) traded down $0.39 during trading hours on Monday, reaching $42.91. 2,530,000 shares of the company were exchanged, compared to its average volume of 2,980,000. The company has a market capitalization of $16,350.00, a PE ratio of 24.80, a price-to-earnings-growth ratio of 77.34 and a beta of 1.05. Apache has a 1 year low of $38.14 and a 1 year high of $66.98. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95.
In other Apache news, insider P Anthony Lannie sold 19,514 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total value of $859,396.56. Following the completion of the sale, the insider now owns 37,469 shares in the company, valued at approximately $1,650,134.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John E. Lowe bought 3,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was bought at an average price of $40.02 per share, with a total value of $120,060.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $600,300. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Hanson McClain Inc. purchased a new position in shares of Apache in the 2nd quarter worth approximately $106,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Apache during the third quarter worth about $134,000. Valeo Financial Advisors LLC acquired a new stake in shares of Apache during the third quarter worth about $135,000. Gs Investments Inc. acquired a new stake in shares of Apache during the second quarter worth about $149,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of Apache by 410.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,635 shares of the energy company’s stock worth $174,000 after purchasing an additional 2,923 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.
Apache Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
