Apache Corp. (NYSE:APA) has been assigned an average recommendation of “Hold” from the twenty-seven ratings firms that are presently covering the firm. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $60.43.
A number of analysts have recently weighed in on the company. Howard Weil cut Apache Corp. from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $70.00 to $71.00 in a research report on Thursday, December 15th. BMO Capital Markets reiterated a “hold” rating and set a $65.00 price target on shares of Apache Corp. in a research report on Wednesday, January 11th. RBC Capital Markets reiterated a “hold” rating and set a $66.00 price target on shares of Apache Corp. in a research report on Wednesday, January 4th. Zacks Investment Research cut Apache Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 29th. Finally, Mitsubishi UFJ Financial Group assumed coverage on Apache Corp. in a research report on Monday, September 26th. They set a “neutral” rating and a $64.00 price target on the stock.
In related news, insider James L. House sold 8,000 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $63.38, for a total transaction of $507,040.00. Following the completion of the sale, the insider now directly owns 2,057 shares in the company, valued at $130,372.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John E. Lowe acquired 2,132 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $57.65 per share, with a total value of $122,909.80. Following the completion of the acquisition, the director now owns 7,500 shares of the company’s stock, valued at approximately $432,375. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Apache Corp. by 36.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,780,475 shares of the energy company’s stock valued at $1,135,639,000 after buying an additional 4,765,205 shares in the last quarter. FIL Ltd purchased a new stake in shares of Apache Corp. during the second quarter valued at about $227,262,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Apache Corp. during the third quarter valued at about $124,773,000. Vanguard Group Inc. raised its stake in shares of Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock valued at $1,369,769,000 after buying an additional 1,199,481 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC purchased a new stake in shares of Apache Corp. during the third quarter valued at about $73,163,000. Institutional investors and hedge funds own 91.67% of the company’s stock.
Apache Corp. (NYSE:APA) opened at 62.91 on Thursday. The firm’s market capitalization is $23.87 billion. Apache Corp. has a one year low of $33.23 and a one year high of $69.00. The company’s 50-day moving average price is $65.07 and its 200 day moving average price is $59.15.
Apache Corp. (NYSE:APA) last announced its quarterly earnings data on Thursday, November 3rd. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.13. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Apache Corp.’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts forecast that Apache Corp. will post ($0.96) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 22nd. Stockholders of record on Sunday, January 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, January 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Apache Corp.’s payout ratio is currently -4.42%.
About Apache Corp.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).