Investors Buy High Volume of Call Options on Apache (NYSE:APA)
Apache Co. (NYSE:APA) saw some unusual options trading on Wednesday. Investors purchased 75,882 call options on the company. This is an increase of 3,082% compared to the average volume of 2,385 call options.
Shares of APA opened at $28.36 on Friday. The firm has a market cap of $10.85 billion, a P/E ratio of 16.02, a P/E/G ratio of 4.65 and a beta of 1.79. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.94. Apache has a 12 month low of $24.56 and a 12 month high of $50.03.
Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Apache had a positive return on equity of 6.71% and a negative net margin of 2.08%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. On average, equities analysts forecast that Apache will post 1.03 earnings per share for the current fiscal year.
APA has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price target on Apache from $30.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Zacks Investment Research downgraded Apache from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Credit Suisse Group boosted their price target on Apache from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 28th. Citigroup boosted their price target on Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Finally, Wolfe Research upgraded Apache from an “underperform” rating to a “peer perform” rating in a report on Monday, June 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Apache has a consensus rating of “Hold” and an average target price of $40.86.
In other Apache news, Director Juliet S. Ellis bought 3,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $27.26 per share, with a total value of $95,410.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $95,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Mark Meyer bought 2,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was acquired at an average cost of $25.92 per share, for a total transaction of $51,840.00. Following the completion of the transaction, the executive vice president now owns 2,919 shares in the company, valued at $75,660.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 10,500 shares of company stock worth $298,500. 0.69% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its stake in Apache by 357.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 787 shares of the energy company’s stock worth $27,000 after buying an additional 615 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in Apache during the 4th quarter worth $29,000. Cresset Asset Management LLC acquired a new position in Apache during the 1st quarter worth $39,000. Signaturefd LLC boosted its position in Apache by 66.1% during the 1st quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock worth $44,000 after acquiring an additional 508 shares during the period. Finally, Cribstone Capital Management LLC boosted its position in Apache by 261.3% during the 1st quarter. Cribstone Capital Management LLC now owns 1,355 shares of the energy company’s stock worth $47,000 after acquiring an additional 980 shares during the period. Hedge funds and other institutional investors own 96.50% 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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
Read More: Gross Domestic Product (GDP)
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