Seaport Global Securities Comments on Apache Co.’s FY2017 Earnings (APA)
Apache Co. (NYSE:APA) – Research analysts at Seaport Global Securities cut their FY2017 earnings estimates for Apache in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will post earnings of $0.13 per share for the year, down from their prior estimate of $0.35. Seaport Global Securities also issued estimates for Apache’s Q4 2017 earnings at $0.22 EPS.
Apache (NYSE:APA) last announced its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. Apache had a negative return on equity of 0.70% and a net margin of 10.60%. Apache’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS.
Shares of Apache (NYSE APA) opened at $47.16 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37. The company has a market capitalization of $17,970.00, a price-to-earnings ratio of 27.26, a P/E/G ratio of 10.12 and a beta of 1.05. Apache has a one year low of $38.14 and a one year high of $64.13.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, January 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. Apache’s dividend payout ratio (DPR) is currently 57.80%.
In related news, insider P Anthony Lannie sold 19,514 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the transaction, the insider now directly owns 37,469 shares in the company, valued at $1,650,134.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John E. Lowe acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were purchased at an average price of $40.02 per share, with a total value of $120,060.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $600,300. The disclosure for this purchase can be found here. 0.48% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Apache by 1.5% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 6,024 shares of the energy company’s stock worth $290,000 after buying an additional 87 shares in the last quarter. Nordea Investment Management AB boosted its position in Apache by 0.7% during the second quarter. Nordea Investment Management AB now owns 19,802 shares of the energy company’s stock valued at $949,000 after purchasing an additional 143 shares during the last quarter. Colonial Trust Advisors boosted its position in Apache by 0.9% during the second quarter. Colonial Trust Advisors now owns 22,605 shares of the energy company’s stock valued at $1,083,000 after purchasing an additional 202 shares during the last quarter. Wittenberg Investment Management Inc. boosted its position in Apache by 0.7% during the second quarter. Wittenberg Investment Management Inc. now owns 34,305 shares of the energy company’s stock valued at $1,644,000 after purchasing an additional 230 shares during the last quarter. Finally, Courier Capital LLC boosted its position in Apache by 4.1% during the second quarter. Courier Capital LLC now owns 8,952 shares of the energy company’s stock valued at $429,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.
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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