Apache Corporation’s (APA) “Hold” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reaffirmed their hold rating on shares of Apache Corporation (NYSE:APA) in a research report released on Tuesday. They currently have a $42.00 target price on the energy company’s stock.
Other analysts have also recently issued research reports about the stock. Wolfe Research cut shares of Apache Corporation from a market perform rating to an underperform rating in a research report on Monday, July 17th. Wells Fargo & Company reiterated a market perform rating and set a $48.00 target price (down previously from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Citigroup Inc. dropped their target price on shares of Apache Corporation from $58.00 to $50.00 and set a neutral rating for the company in a research report on Friday, July 21st. Scotiabank set a $52.00 target price on shares of Apache Corporation and gave the company a hold rating in a research report on Friday, August 11th. Finally, Zacks Investment Research cut shares of Apache Corporation from a hold rating to a sell rating in a research report on Tuesday, October 10th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Apache Corporation has an average rating of Hold and an average target price of $47.82.
Apache Corporation (NYSE APA) opened at $44.13 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. Apache Corporation has a 1 year low of $38.14 and a 1 year high of $69.00.
Apache Corporation (NYSE:APA) last issued its earnings results on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. sell-side analysts expect that Apache Corporation will post -0.01 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s payout ratio is presently 57.47%.
In related news, Director John E. Lowe bought 2,000 shares of Apache Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $40.32 per share, with a total value of $80,640.00. Following the purchase, the director now owns 12,000 shares in the company, valued at $483,840. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in APA. Fulton Bank N.A. boosted its stake in shares of Apache Corporation by 0.6% during the 2nd quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock worth $494,000 after buying an additional 59 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Apache Corporation by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock worth $3,345,000 after buying an additional 400 shares during the last quarter. ARGA Investment Management LP boosted its stake in shares of Apache Corporation by 27.8% during the 2nd quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock worth $4,258,000 after buying an additional 19,300 shares during the last quarter. Hosking Partners LLP boosted its stake in shares of Apache Corporation by 97.4% during the 2nd quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock worth $4,336,000 after buying an additional 44,629 shares during the last quarter. Finally, Mitchell Group Inc. boosted its stake in shares of Apache Corporation by 2.1% during the 2nd quarter. Mitchell Group Inc. now owns 593,457 shares of the energy company’s stock worth $28,444,000 after buying an additional 12,438 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.
About Apache Corporation
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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