Stock Traders Purchase High Volume of Call Options on Apache Corporation (APA)
Apache Corporation (NYSE:APA) was the target of some unusual options trading activity on Friday. Stock investors purchased 1,516 call options on the company. This represents an increase of approximately 470% compared to the typical volume of 266 call options.
Shares of Apache Corporation (NYSE:APA) opened at 45.17 on Monday. The firm’s 50-day moving average is $42.06 and its 200-day moving average is $46.92. Apache Corporation has a 52-week low of $38.14 and a 52-week high of $69.00. The firm’s market cap is $17.21 billion.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted ($0.26) EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts anticipate that Apache Corporation will post $0.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be given a $0.25 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.21%. Apache Corporation’s payout ratio is currently -4,997.50%.
In other Apache Corporation news, Director George D. Lawrence acquired 900 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the acquisition, the director now directly owns 38,445 shares in the company, valued at $1,633,528.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Lowe acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $40.32 per share, with a total value of $80,640.00. Following the acquisition, the director now owns 12,000 shares in the company, valued at $483,840. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Dodge & Cox raised its holdings in shares of Apache Corporation by 4.0% during the second quarter. Dodge & Cox now owns 29,922,731 shares of the energy company’s stock valued at $1,434,196,000 after acquiring an additional 1,152,395 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Apache Corporation by 3,551.6% during the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock valued at $1,490,509,000 after acquiring an additional 28,209,565 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Apache Corporation by 0.5% during the second quarter. Vanguard Group Inc. now owns 26,448,494 shares of the energy company’s stock valued at $1,267,676,000 after acquiring an additional 128,836 shares in the last quarter. State Street Corp raised its holdings in shares of Apache Corporation by 0.7% during the second quarter. State Street Corp now owns 20,068,849 shares of the energy company’s stock valued at $961,903,000 after acquiring an additional 130,520 shares in the last quarter. Finally, Harris Associates L P raised its holdings in shares of Apache Corporation by 14.3% during the second quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock valued at $898,275,000 after acquiring an additional 2,343,985 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.
A number of research analysts recently issued reports on APA shares. BidaskClub upgraded shares of Apache Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $64.00 price objective on shares of Apache Corporation in a report on Friday, June 16th. Seaport Global Securities lowered shares of Apache Corporation from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $52.00 to $36.00 in a report on Wednesday, June 21st. BMO Capital Markets set a $45.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Monday, June 26th. Finally, Scotiabank set a $50.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a report on Saturday, July 1st. Nine analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $50.00.
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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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