Equities research analysts predict that Apache Co. (NYSE:APA) will report sales of $1.69 billion for the current quarter, Zacks reports. Seven analysts have made estimates for Apache’s earnings, with the lowest sales estimate coming in at $1.58 billion and the highest estimate coming in at $1.81 billion. Apache posted sales of $1.93 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 12.4%. The company is expected to announce its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Apache will report full year sales of $6.95 billion for the current year, with estimates ranging from $6.57 billion to $7.73 billion. For the next fiscal year, analysts anticipate that the company will post sales of $7.73 billion, with estimates ranging from $6.72 billion to $11.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Apache.

Apache (NYSE:APA) last issued its earnings results on Wednesday, May 1st. The energy company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was down 6.4% on a year-over-year basis.

Several research firms have recently weighed in on APA. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Wolfe Research upgraded shares of Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. BMO Capital Markets reiterated a “buy” rating on shares of Brookfield Asset Management in a report on Friday, April 5th. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Finally, Morgan Stanley upgraded shares of to an “overweight” rating and set a GBX 400 ($5.23) price target for the company in a report on Friday. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.43.

NYSE:APA traded up $0.17 during trading hours on Friday, hitting $26.91. The stock had a trading volume of 3,776,387 shares, compared to its average volume of 3,964,360. Apache has a one year low of $24.56 and a one year high of $50.03. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 1.05. The stock has a market cap of $10.12 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 4.46 and a beta of 1.79. The firm has a 50 day moving average price of $27.90.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, July 19th. Apache’s dividend payout ratio is currently 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, Director Juliet S. Ellis acquired 3,500 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $27.26 per share, for a total transaction of $95,410.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $95,410. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 10,500 shares of company stock valued at $298,500. Corporate insiders own 0.69% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Harris Associates L P lifted its position in shares of Apache by 5.8% during the 4th quarter. Harris Associates L P now owns 19,644,841 shares of the energy company’s stock valued at $515,678,000 after buying an additional 1,075,776 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Apache by 20.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock worth $144,156,000 after acquiring an additional 945,212 shares during the last quarter. Geode Capital Management LLC increased its stake in Apache by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 4,866,739 shares of the energy company’s stock worth $127,525,000 after acquiring an additional 340,044 shares during the last quarter. Northern Trust Corp increased its position in shares of Apache by 3.8% during the 4th quarter. Northern Trust Corp now owns 4,852,843 shares of the energy company’s stock valued at $127,387,000 after purchasing an additional 176,822 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Apache during the 4th quarter valued at approximately $103,822,000. 96.46% of the stock is currently owned by institutional investors.

About Apache

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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Earnings History and Estimates for Apache (NYSE:APA)

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