Wells Fargo & Company reiterated their market perform rating on shares of Apache Corporation (NYSE:APA) in a research note released on Saturday, July 22nd. They currently have a $48.00 target price on the energy company’s stock, down from their previous target price of $55.00.
A number of other equities analysts have also recently weighed in on APA. Scotiabank set a $58.00 price objective on shares of Apache Corporation and gave the stock a hold rating in a research report on Monday, March 27th. Stifel Nicolaus started coverage on shares of Apache Corporation in a research report on Friday, April 7th. They set a hold rating and a $54.00 price objective for the company. Barclays PLC reaffirmed a sell rating and set a $41.00 price objective (down previously from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. Royal Bank Of Canada reissued a hold rating and issued a $63.00 price target on shares of Apache Corporation in a research report on Tuesday, April 25th. Finally, Zacks Investment Research cut shares of Apache Corporation from a hold rating to a sell rating in a research report on Tuesday, May 2nd. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $56.39.
Shares of Apache Corporation (APA) traded down 0.52% during mid-day trading on Friday, hitting $42.39. The company had a trading volume of 2,505,997 shares. The firm has a 50-day moving average price of $47.14 and a 200 day moving average price of $50.57. Apache Corporation has a 52-week low of $42.17 and a 52-week high of $69.00. The firm’s market capitalization is $16.15 billion.
Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.22. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.26) EPS. Analysts expect that Apache Corporation will post $0.13 earnings per share for the current year.
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In other Apache Corporation news, Director Rene R. Joyce acquired 10,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were bought at an average cost 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of APA. OxFORD Asset Management LLP acquired a new position in Apache Corporation during the second quarter worth approximately $759,000. Paragon Capital Management LLC raised its position in Apache Corporation by 9.2% in the second quarter. Paragon Capital Management LLC now owns 135,968 shares of the energy company’s stock worth $6,516,000 after buying an additional 11,420 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Apache Corporation by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,221,294 shares of the energy company’s stock worth $58,529,000 after buying an additional 56,470 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Apache Corporation by 46.3% in the second quarter. Parametric Portfolio Associates LLC now owns 1,011,645 shares of the energy company’s stock worth $48,488,000 after buying an additional 320,131 shares in the last quarter. Finally, Advisor Group Inc. raised its position in Apache Corporation by 148.3% in the second quarter. Advisor Group Inc. now owns 53,522 shares of the energy company’s stock worth $2,564,000 after buying an additional 31,967 shares in the last quarter. Institutional investors own 94.04% of the company’s stock.
Apache Corporation Company Profile
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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