Apache Corporation (NYSE:APA) – Equities researchers at Jefferies Group dropped their FY2017 EPS estimates for Apache Corporation in a note issued to investors on Monday. Jefferies Group analyst M. Hsu now expects that the energy company will post earnings per share of $0.51 for the year, down from their previous forecast of $0.82. Jefferies Group has a “Sell” rating and a $40.00 price objective on the stock.
APA has been the subject of a number of other reports. Barclays PLC reaffirmed a “sell” rating and issued a $41.00 price objective (down from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. BMO Capital Markets set a $45.00 price objective on Apache Corporation and gave the company a “hold” rating in a research report on Monday, June 26th. Scotiabank set a $50.00 price objective on Apache Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Apache Corporation in a research report on Friday, June 16th. Finally, Zacks Investment Research lowered Apache Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $56.26.
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Apache Corporation (APA) opened at 39.89 on Thursday. The company’s market capitalization is $15.20 billion. Apache Corporation has a 52 week low of $39.87 and a 52 week high of $69.00. The company has a 50 day moving average price of $46.51 and a 200-day moving average price of $49.97.
Apache Corporation (NYSE:APA) last issued 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. 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 period in the previous year, the business posted ($0.26) earnings per share. The firm’s revenue was up .1% on a year-over-year basis.
In other Apache Corporation news, Director John E. Lowe bought 2,000 shares of Apache Corporation stock in a transaction on Thursday, August 17th. The shares were purchased 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 approximately $483,840. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John E. Lowe bought 2,500 shares of Apache Corporation stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,000. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 5,400 shares of company stock worth $231,131. Company insiders own 0.48% of the company’s stock.
Several large investors have recently modified their holdings of APA. Nationwide Fund Advisors increased its stake in shares of Apache Corporation by 11.7% in the first quarter. Nationwide Fund Advisors now owns 133,169 shares of the energy company’s stock worth $6,844,000 after buying an additional 13,959 shares in the last quarter. Northern Capital Management LLC purchased a new stake in Apache Corporation during the first quarter valued at $4,000,000. Murphy Pohlad Asset Management LLC increased its stake in Apache Corporation by 19.7% in the first quarter. Murphy Pohlad Asset Management LLC now owns 21,265 shares of the energy company’s stock valued at $1,092,000 after buying an additional 3,495 shares during the period. State of Alaska Department of Revenue purchased a new stake in Apache Corporation during the first quarter valued at $135,000. Finally, Rothschild Investment Corp IL increased its stake in Apache Corporation 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. 93.72% of the stock is currently owned by hedge funds and other institutional investors.
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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