Apache Corp. (APA) Price Target Raised to $58.00 at Barclays PLC
Apache Corp. (NYSE:APA) had its price objective upped by Barclays PLC from $50.00 to $58.00 in a report issued on Tuesday morning. Barclays PLC currently has an equal weight rating on the energy company’s stock.
APA has been the subject of a number of other reports. Jefferies Group upped their price objective on shares of Apache Corp. from $42.00 to $47.00 and gave the stock an underperform rating in a report on Monday, September 12th. Vetr cut shares of Apache Corp. from a hold rating to a sell rating and set a $51.00 price objective for the company. in a report on Monday, August 22nd. Atlantic Securities raised shares of Apache Corp. from a neutral rating to an overweight rating and boosted their target price for the stock from $41.00 to $70.00 in a research report on Monday, September 12th. Morgan Stanley reissued a hold rating and set a $63.00 target price on shares of Apache Corp. in a research report on Thursday, September 8th. Finally, Citigroup Inc. boosted their target price on shares of Apache Corp. from $53.00 to $58.00 and gave the stock a neutral rating in a research report on Thursday, September 8th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Apache Corp. has an average rating of Hold and a consensus price target of $57.44.
Apache Corp. (NYSE:APA) opened at 58.56 on Tuesday. The firm’s market capitalization is $22.22 billion. The company has a 50-day moving average price of $52.31 and a 200-day moving average price of $52.78. Apache Corp. has a 1-year low of $32.20 and a 1-year high of $60.19.
Apache Corp. (NYSE:APA) last issued its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.09. The business earned $1.38 billion during the quarter, compared to the consensus estimate of $1.31 billion. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company’s revenue for the quarter was down 38.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, equities research analysts predict that Apache Corp. will post ($0.69) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.71%. Apache Corp.’s dividend payout ratio (DPR) is currently -2.78%.
Several hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its stake in Apache Corp. by 85.7% in the second quarter. Macquarie Group Ltd. now owns 10,400 shares of the energy company’s stock valued at $579,000 after buying an additional 4,800 shares during the period. Carnick & Kubik Group LLC acquired a new position in shares of Apache Corp. during the second quarter valued at $948,000. Williams Jones & Associates LLC raised its position in shares of Apache Corp. by 337.4% in the second quarter. Williams Jones & Associates LLC now owns 10,760 shares of the energy company’s stock valued at $599,000 after buying an additional 8,300 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Apache Corp. during the second quarter valued at $851,000. Finally, Kentucky Retirement Systems acquired a new position in shares of Apache Corp. during the second quarter valued at $1,792,000. 91.26% of the stock is currently owned by institutional investors and hedge funds.
Apache Corp. Company Profile
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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