Apache Corp. (APA) Price Target Raised to $58.00 at Barclays PLC
Apache Corp. (NYSE:APA) had its price objective raised by Barclays PLC from $50.00 to $58.00 in a research report released on Tuesday. The firm currently has an equal weight rating on the energy company’s stock.
Other equities analysts have also recently issued reports about the stock. Wolfe Research upgraded shares of Apache Corp. from an underperform rating to a market perform rating in a research report on Monday, September 12th. Jefferies Group boosted their target price on shares of Apache Corp. from $42.00 to $47.00 and gave the company an underperform rating in a research report on Monday, September 12th. Citigroup Inc. cut shares of Apache Corp. from a buy rating to a neutral rating and dropped their target price for the company from $55.00 to $53.00 in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Howard Weil upgraded shares of Apache Corp. from a sector perform rating to an outperform rating in a research report on Monday, May 16th. Finally, Credit Suisse Group AG restated a hold rating and issued a $67.00 target price on shares of Apache Corp. in a research report on Monday, September 12th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus 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. Apache Corp. has a one year low of $32.20 and a one year high of $60.19. The company has a 50-day moving average of $52.31 and a 200 day moving average of $52.78.
Apache Corp. (NYSE:APA) last issued its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The business earned $1.38 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $0.22 EPS. Apache Corp.’s revenue for the quarter was down 38.5% compared to the same quarter last year. On average, analysts anticipate that Apache Corp. will post ($0.69) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.71%. Apache Corp.’s payout ratio is -2.78%.
Several hedge funds have recently bought and sold shares of APA. Orbis Allan Gray Ltd purchased a new stake in Apache Corp. during the first quarter valued at about $746,349,000. FIL Ltd purchased a new stake in Apache Corp. during the second quarter valued at about $227,262,000. Dodge & Cox raised its stake in Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock valued at $1,428,167,000 after buying an additional 3,245,030 shares during the last quarter. Norges Bank purchased a new stake in Apache Corp. during the fourth quarter valued at about $138,091,000. Finally, Franklin Resources Inc. raised its stake in Apache Corp. by 11.2% in the first quarter. Franklin Resources Inc. now owns 15,268,708 shares of the energy company’s stock valued at $745,272,000 after buying an additional 1,537,564 shares during the last quarter. Hedge funds and other institutional investors own 91.26% of the company’s stock.
About Apache Corp.
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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