Stephens Reiterates $55.00 Price Target for Apache (APA)
Several other research firms also recently commented on APA. Stifel Nicolaus lifted their price objective on Apache from $46.00 to $51.00 and gave the stock a hold rating in a report on Thursday, August 9th. Morgan Stanley decreased their price objective on Apache from $42.00 to $41.00 and set a sell rating on the stock in a report on Tuesday, September 4th. Zacks Investment Research upgraded Apache from a hold rating to a buy rating and set a $54.00 price objective on the stock in a report on Thursday, July 12th. Cowen set a $48.00 price objective on Apache and gave the stock a hold rating in a report on Thursday, July 19th. Finally, Mitsubishi UFJ Financial Group lifted their price objective on Apache to $66.00 and gave the stock an overweight rating in a report on Tuesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $46.72.
APA opened at $47.43 on Monday. The stock has a market capitalization of $18.28 billion, a PE ratio of 197.63, a P/E/G ratio of 6.14 and a beta of 1.19. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88. Apache has a 12 month low of $33.60 and a 12 month high of $49.59.
The firm 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 dividend on an annualized basis and a yield of 2.11%. Apache’s dividend payout ratio is presently 416.67%.
In related news, VP Dominic Ricotta sold 3,480 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $43.72, for a total transaction of $152,145.60. Following the transaction, the vice president now owns 10,357 shares in the company, valued at approximately $452,808.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John J. Christmann purchased 3,900 shares of Apache stock in a transaction that occurred on Monday, August 27th. The shares were acquired at an average price of $43.63 per share, for a total transaction of $170,157.00. Following the acquisition, the chief executive officer now owns 150,696 shares in the company, valued at $6,574,866.48. The disclosure for this purchase can be found here. 0.59% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in APA. United Services Automobile Association boosted its position in Apache by 69.7% during the 2nd quarter. United Services Automobile Association now owns 200,616 shares of the energy company’s stock valued at $9,379,000 after acquiring an additional 82,370 shares in the last quarter. Royal London Asset Management Ltd. bought a new stake in Apache during the 2nd quarter valued at approximately $7,706,000. Northern Trust Corp boosted its position in Apache by 2.4% during the 2nd quarter. Northern Trust Corp now owns 4,819,284 shares of the energy company’s stock valued at $225,301,000 after acquiring an additional 111,798 shares in the last quarter. Schroder Investment Management Group boosted its position in Apache by 6.9% during the 2nd quarter. Schroder Investment Management Group now owns 465,717 shares of the energy company’s stock valued at $21,395,000 after acquiring an additional 29,919 shares in the last quarter. Finally, Andra AP fonden boosted its position in Apache by 5.8% during the 2nd quarter. Andra AP fonden now owns 104,700 shares of the energy company’s stock valued at $4,895,000 after acquiring an additional 5,700 shares in the last quarter. Institutional investors own 96.69% of the company’s stock.
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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