Wells Fargo & Company reaffirmed their market perform rating on shares of Apache Corporation (NYSE:APA) in a report issued on Saturday, July 22nd. Wells Fargo & Company currently has a $48.00 price objective on the energy company’s stock, down from their prior price objective of $55.00.
Other equities analysts also recently issued research reports about the company. Scotiabank reaffirmed a hold rating and set a $58.00 price target on shares of Apache Corporation in a research report on Monday, May 15th. BMO Capital Markets reissued a hold rating and issued a $53.00 price objective on shares of Apache Corporation in a report on Monday, May 15th. Royal Bank Of Canada reissued a hold rating and issued a $63.00 price objective on shares of Apache Corporation in a report on Tuesday, April 25th. Wolfe Research downgraded Apache Corporation from a market perform rating to an underperform rating in a report on Monday, July 17th. Finally, Citigroup Inc. cut their price objective on Apache Corporation from $58.00 to $50.00 and set a neutral rating for the company in a report on Friday, July 21st. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $56.26.
Shares of Apache Corporation (APA) traded up 1.05% during trading on Friday, reaching $40.31. 3,046,453 shares of the company traded hands. The stock’s market cap is $15.36 billion. Apache Corporation has a 12 month low of $39.78 and a 12 month high of $69.00. The stock’s 50 day moving average price is $46.31 and its 200-day moving average price is $49.83.
Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.22. Apache Corporation had a negative return on equity of 1.03% and a negative net margin of 0.07%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned ($0.26) EPS. The company’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Apache Corporation will post $0.09 EPS for the current fiscal year.
In other news, Director George D. Lawrence acquired 900 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the acquisition, the director now directly owns 38,445 shares in the company, valued at approximately $1,633,528.05. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John E. Lowe bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at $483,840. The disclosure for this purchase can be found here. Insiders have bought 5,400 shares of company stock valued at $231,131 over the last 90 days. 0.48% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Bank acquired a new position in Apache Corporation during the first quarter valued at $100,000. Invictus RG acquired a new position in Apache Corporation during the first quarter valued at $100,000. Thompson Davis & CO. Inc. boosted its position in Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after buying an additional 506 shares in the last quarter. Hanson McClain Inc. purchased a new position in shares of Apache Corporation during the second quarter worth approximately $106,000. Finally, Parallel Advisors LLC boosted its position in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares in the last quarter. 93.72% of the stock is currently owned by institutional investors and hedge funds.
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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