Apache Corporation (APA) PT Set at $35.00 by Jefferies Group LLC
Apache Corporation (NYSE:APA) has been assigned a $35.00 price objective by equities researchers at Jefferies Group LLC in a research report issued on Tuesday. The brokerage currently has a “sell” rating on the energy company’s stock. Jefferies Group LLC’s target price points to a potential downside of 8.78% from the stock’s current price.
Several other analysts have also commented on APA. Zacks Investment Research lowered shares of Apache Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. BMO Capital Markets reissued a “hold” rating and set a $53.00 price target on shares of Apache Corporation in a research report on Friday, May 5th. Scotiabank reissued a “hold” rating and set a $58.00 price target on shares of Apache Corporation in a research report on Friday, May 5th. Bank of America Corporation reissued a “buy” rating and set a $57.00 price target (down from $60.00) on shares of Apache Corporation in a research report on Thursday, May 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $64.00 price target on shares of Apache Corporation in a research report on Friday, May 26th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $56.27.
Shares of Apache Corporation (NYSE APA) opened at 38.37 on Tuesday. The stock’s 50 day moving average is $45.27 and its 200 day moving average is $49.16. Apache Corporation has a 52-week low of $38.26 and a 52-week high of $69.00. The company’s market capitalization is $14.62 billion.
Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.26) earnings per share. Equities analysts expect that Apache Corporation will post $0.04 EPS for the current year.
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In other Apache Corporation news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $40.32 per share, for a total transaction of $80,640.00. Following the acquisition, the director now owns 12,000 shares in the company, valued at $483,840. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Lowe purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 5,500 shares of company stock worth $235,094. 0.48% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Invictus RG acquired a new position in shares of Apache Corporation during the first quarter valued at $100,000. Thompson Davis & CO. Inc. increased its position in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after buying an additional 506 shares during the period. Hanson McClain Inc. acquired a new position in shares of Apache Corporation during the second quarter valued at $106,000. Parallel Advisors LLC increased its position in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after buying an additional 161 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Apache Corporation during the first quarter valued at $135,000. Institutional investors own 95.04% of the company’s stock.
Apache Corporation Company Profile
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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