Apache (APA) Coverage Initiated at Credit Suisse Group
Credit Suisse Group initiated coverage on shares of Apache (NYSE:APA) in a report issued on Monday. The firm set a “neutral” rating and a $40.00 price target on the energy company’s stock. Credit Suisse Group’s price objective points to a potential upside of 0.70% from the stock’s previous close.
Several other research analysts have also recently commented on APA. Citigroup decreased their target price on shares of Apache from $50.00 to $45.00 and set a “neutral” rating for the company in a research 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 research report on Tuesday, October 10th. BidaskClub cut shares of Apache from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Bank of America upped their target price on shares of Apache from $41.00 to $42.00 and gave the stock an “underperform” rating in a research report on Monday, November 6th. Finally, Scotiabank set a $49.00 target price on shares of Apache and gave the stock a “hold” rating in a research report on Monday, November 13th. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Apache currently has a consensus rating of “Hold” and an average price target of $47.61.
Shares of Apache (APA) opened at $39.72 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 1.53. Apache has a 1 year low of $38.14 and a 1 year high of $67.76.
Apache (NYSE:APA) last announced its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Apache had a net margin of 10.60% and a negative return on equity of 0.70%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. sell-side analysts forecast that Apache will post 0.02 earnings per share for the current fiscal year.
In other 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 transaction, the insider now directly owns 37,469 shares in the company, valued at $1,650,134.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Ray Gerald L & Associates Ltd. boosted its holdings in shares of Apache by 0.4% in the second quarter. Ray Gerald L & Associates Ltd. now owns 12,900 shares of the energy company’s stock valued at $618,000 after acquiring an additional 50 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Apache by 1.5% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 6,024 shares of the energy company’s stock valued at $290,000 after acquiring an additional 87 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in shares of Apache by 2.0% in the second quarter. Wesbanco Bank Inc. now owns 5,041 shares of the energy company’s stock valued at $242,000 after acquiring an additional 100 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Apache by 0.7% in the second quarter. Nordea Investment Management AB now owns 19,802 shares of the energy company’s stock valued at $949,000 after acquiring an additional 143 shares in the last quarter. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Apache by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 64,864 shares of the energy company’s stock valued at $3,108,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.
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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.
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