Apache Corporation (NYSE:APA)‘s stock had its “buy” rating reiterated by equities researchers at Bank of America Corporation in a report released on Thursday, May 11th. They currently have a $57.00 target price on the energy company’s stock, down from their previous target price of $60.00. Bank of America Corporation’s price target points to a potential upside of 15.06% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Apache Corporation from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Thursday, February 2nd. KLR Group reiterated a “buy” rating and issued a $79.00 price objective on shares of Apache Corporation in a report on Monday, March 20th. Stifel Nicolaus assumed coverage on Apache Corporation in a report on Friday, April 7th. They issued a “hold” rating and a $54.00 price objective for the company. Scotiabank set a $58.00 target price on Apache Corporation and gave the company a “hold” rating in a research note on Monday, March 27th. Finally, BMO Capital Markets restated a “hold” rating and issued a $65.00 target price on shares of Apache Corporation in a research note on Wednesday, January 11th. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Apache Corporation presently has an average rating of “Hold” and an average price target of $60.58.
Shares of Apache Corporation (NYSE APA) opened at 49.54 on Thursday. Apache Corporation has a 52 week low of $45.95 and a 52 week high of $69.00. The stock has a 50 day moving average price of $48.96 and a 200-day moving average price of $55.32. The company’s market capitalization is $18.85 billion.
Apache Corporation (NYSE:APA) last issued its earnings results on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.08. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Apache Corporation had a negative net margin of 13.34% and a negative return on equity of 1.27%. During the same quarter in the prior year, the company earned ($0.40) earnings per share. Equities research analysts expect that Apache Corporation will post $0.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Friday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.02%. Apache Corporation’s payout ratio is -46.08%.
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In related news, Director Rene R. Joyce bought 10,000 shares of the stock in a transaction on Monday, May 15th. The stock was bought at an average price of $51.38 per share, for a total transaction of $513,800.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $513,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. DnB Asset Management AS increased its position in shares of Apache Corporation by 9.5% in the third quarter. DnB Asset Management AS now owns 33,416 shares of the energy company’s stock worth $2,134,000 after buying an additional 2,900 shares during the last quarter. World Asset Management Inc increased its position in Apache Corporation by 1.9% in the third quarter. World Asset Management Inc now owns 42,199 shares of the energy company’s stock valued at $2,695,000 after buying an additional 794 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in Apache Corporation by 6.4% in the third quarter. Virginia Retirement Systems ET AL now owns 168,400 shares of the energy company’s stock valued at $10,756,000 after buying an additional 10,200 shares during the last quarter. Schwartz Investment Counsel Inc. increased its position in Apache Corporation by 18.5% in the third quarter. Schwartz Investment Counsel Inc. now owns 6,400 shares of the energy company’s stock valued at $409,000 after buying an additional 1,000 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its position in Apache Corporation by 16.2% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 8,722 shares of the energy company’s stock valued at $557,000 after buying an additional 1,215 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.
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. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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