Apache Co. (APA) Expected to Announce Quarterly Sales of $1.96 Billion
Brokerages expect Apache Co. (NYSE:APA) to report $1.96 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Apache’s earnings. The highest sales estimate is $2.05 billion and the lowest is $1.79 billion. Apache posted sales of $1.58 billion in the same quarter last year, which would indicate a positive year over year growth rate of 24.1%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Apache will report full-year sales of $7.61 billion for the current year, with estimates ranging from $7.28 billion to $7.78 billion. For the next fiscal year, analysts anticipate that the company will report sales of $7.82 billion, with estimates ranging from $7.54 billion to $8.28 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Apache.
Apache (NYSE:APA) last announced its earnings results on Wednesday, August 1st. The energy company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. Apache had a net margin of 12.57% and a return on equity of 5.21%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.76 billion.
Shares of NYSE:APA traded up $0.30 on Thursday, reaching $47.78. The company’s stock had a trading volume of 3,386,200 shares, compared to its average volume of 4,102,496. Apache has a 52-week low of $33.60 and a 52-week high of $49.59. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.36. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 201.50, a PEG ratio of 3.88 and a beta of 1.19.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 2.09%. Apache’s dividend payout ratio is currently 416.67%.
In related news, CEO John J. Christmann bought 3,900 shares of the company’s stock in a transaction on Monday, August 27th. The stock was bought at an average cost of $43.63 per share, with a total value of $170,157.00. Following the completion of the acquisition, the chief executive officer now owns 150,696 shares in the company, valued at approximately $6,574,866.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dominic Ricotta sold 3,480 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $43.72, for a total transaction of $152,145.60. Following the completion of the transaction, the vice president now directly owns 10,357 shares of the company’s stock, valued at $452,808.04. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC increased its holdings in Apache by 575.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock valued at $104,000 after buying an additional 1,892 shares in the last quarter. Rampart Investment Management Company LLC purchased a new position in Apache in the first quarter valued at about $158,000. Wesbanco Bank Inc. purchased a new position in Apache in the second quarter valued at about $207,000. Mutual Advisors LLC purchased a new position in Apache in the second quarter valued at about $208,000. Finally, Piedmont Investment Advisors LLC purchased a new position in Apache in the second quarter valued at about $209,000. 96.69% of the stock is owned by institutional investors.
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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