Apache (APA) Given a $54.00 Price Target at Royal Bank of Canada
Royal Bank of Canada set a $54.00 price objective on Apache (NYSE:APA) in a research report sent to investors on Thursday morning. The brokerage currently has a hold rating on the energy company’s stock.
Other equities analysts have also recently issued research reports about the company. TheStreet upgraded Apache from a c rating to a b- rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded Apache from a hold rating to a buy rating and set a $48.00 price target on the stock in a research report on Monday, June 18th. Argus upgraded Apache from a hold rating to a buy rating and boosted their price target for the company from $46.19 to $56.00 in a research report on Monday, June 11th. KLR Group restated a buy rating and issued a $54.00 price target on shares of Apache in a research report on Monday, August 20th. Finally, Cowen set a $48.00 price target on Apache and gave the company a hold rating in a research report on Thursday, July 19th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $46.22.
Apache stock opened at $45.96 on Thursday. Apache has a fifty-two week low of $33.60 and a fifty-two week high of $49.59. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $17.58 billion, a PE ratio of 191.50, a PEG ratio of 3.88 and a beta of 1.19.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, October 19th. Apache’s payout ratio is 416.67%.
In other Apache news, VP Dominic Ricotta sold 3,480 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $43.72, for a total transaction of $152,145.60. Following the transaction, the vice president now owns 10,357 shares in the company, valued at approximately $452,808.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John J. Christmann bought 3,900 shares of the company’s stock in a transaction on Monday, August 27th. The shares were acquired at an average price of $43.63 per share, for a total transaction of $170,157.00. Following the transaction, the chief executive officer now directly owns 150,696 shares in the company, valued at approximately $6,574,866.48. The disclosure for this purchase can be found here. Insiders own 0.59% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Apache by 0.3% during the 1st quarter. BlackRock Inc. now owns 25,508,716 shares of the energy company’s stock worth $981,578,000 after acquiring an additional 70,604 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Apache by 76.2% during the 2nd quarter. Baillie Gifford & Co. now owns 24,490,129 shares of the energy company’s stock worth $1,144,913,000 after acquiring an additional 10,592,806 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Apache by 2.4% during the 2nd quarter. Northern Trust Corp now owns 4,819,284 shares of the energy company’s stock worth $225,301,000 after acquiring an additional 111,798 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Apache by 71.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,644,974 shares of the energy company’s stock worth $170,375,000 after acquiring an additional 1,512,960 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Apache by 5.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,635,287 shares of the energy company’s stock worth $76,450,000 after acquiring an additional 82,128 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.
Apache Company Profile
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 Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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