The Brokers Issue Forecasts for Apache Co.’s Q3 2017 Earnings (APA)

The Brokers Issue Forecasts for Apache Co.’s Q3 2017 Earnings (APA)

Apache Co. (NYSE:APA) – Analysts at Capital One Financial Corp. increased their Q3 2017 earnings per share estimates for Apache in a research note issued on Friday. Capital One Financial Corp. analyst R. Tullis now forecasts that the energy company will post earnings of $0.56 per share for the quarter, up from their prior estimate of $0.46. Capital One Financial Corp. also issued estimates for Apache’s Q4 2017 earnings at $0.56 EPS and FY2018 earnings at $2.03 EPS.

Other equities research analysts also recently issued research reports about the company. KLR Group reissued a “buy” rating and set a $79.00 price target on shares of Apache in a research report on Monday, March 20th. Bank of America Corp reissued a “buy” rating and set a $57.00 price target (down previously from $60.00) on shares of Apache in a research report on Thursday, May 11th. Zacks Investment Research raised Apache from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Scotiabank reissued a “hold” rating and set a $58.00 price target on shares of Apache in a research report on Friday, May 5th. Finally, BMO Capital Markets reissued a “hold” rating and set a $53.00 price target on shares of Apache in a research report on Friday, May 5th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $60.53.

Apache (APA) opened at 46.99 on Monday. The firm’s market cap is $17.88 billion. Apache has a 1-year low of $46.09 and a 1-year high of $69.00. The company’s 50-day moving average price is $49.45 and its 200 day moving average price is $56.33. Apache (NYSE:APA) last posted its earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.08. Apache had a negative return on equity of 4.70% and a negative net margin of 166.56%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company posted ($0.40) EPS.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sheets Smith Wealth Management acquired a new position in Apache during the third quarter valued at approximately $1,163,000. Zacks Investment Management acquired a new position in Apache during the third quarter valued at approximately $8,157,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Apache during the fourth quarter valued at approximately $52,553,000. Rothschild Investment Corp IL boosted its position in Apache by 36.1% in the first quarter. Rothschild Investment Corp IL now owns 11,481 shares of the energy company’s stock valued at $590,000 after buying an additional 3,047 shares during the period. Finally, Monetta Financial Services Inc. boosted its position in Apache by 272.7% in the third quarter. Monetta Financial Services Inc. now owns 41,000 shares of the energy company’s stock valued at $2,619,000 after buying an additional 30,000 shares during the period. Institutional investors and hedge funds own 93.38% of the company’s stock. In other Apache news, Director Rene R. Joyce purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $51.38 per share, for a total transaction of $513,800.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $513,800. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Friday, July 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, July 19th. Apache’s dividend payout ratio (DPR) is -4.42%. About Apache

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “APA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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