Apache Corporation (APA) Given New $26.00 Price Target at Barclays PLC

Apache Corporation (NYSE:APA) had its price objective decreased by Barclays PLC from $30.00 to $26.00 in a research report sent to investors on Wednesday morning. Barclays PLC currently has an underweight rating on the energy company’s stock.

Several other equities research analysts have also recently weighed in on APA. Scotiabank set a $50.00 price target on shares of Apache Corporation and gave the stock a hold rating in a research report on Saturday, July 1st. Stifel Nicolaus set a $42.00 price target on shares of Apache Corporation and gave the stock a hold rating in a research report on Thursday, October 5th. BidaskClub cut shares of Apache Corporation from a hold rating to a sell rating in a research report on Saturday, August 5th. Citigroup Inc. lowered their price target on shares of Apache Corporation from $50.00 to $45.00 and set a neutral rating for the company in a research report on Tuesday, August 15th. Finally, BMO Capital Markets set a $45.00 price target on shares of Apache Corporation and gave the stock a hold rating in a research report on Thursday, August 3rd. Nine analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $49.06.

Shares of Apache Corporation (NYSE APA) traded down 1.31% during trading on Wednesday, hitting $41.41. 6,154,466 shares of the company’s stock were exchanged. Apache Corporation has a one year low of $38.14 and a one year high of $69.00. The stock’s market cap is $15.77 billion. The firm has a 50-day moving average price of $42.36 and a 200-day moving average price of $46.75.

Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company posted ($0.26) EPS. Apache Corporation’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts expect that Apache Corporation will post $0.03 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. Apache Corporation’s dividend payout ratio (DPR) is presently -4,997.50%.

In related news, Director John E. Lowe purchased 2,500 shares of the business’s stock in a transaction on Monday, August 7th. The shares were acquired at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $40.32 per share, for a total transaction of $80,640.00. Following the purchase, the director now directly owns 12,000 shares in the company, valued at approximately $483,840. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,500 shares of company stock worth $235,094 in the last 90 days. 0.48% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Fulton Bank N.A. increased its stake in Apache Corporation by 0.6% during the 2nd quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after purchasing an additional 59 shares in the last quarter. Utah Retirement Systems increased its stake in Apache Corporation by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 69,785 shares of the energy company’s stock valued at $3,345,000 after purchasing an additional 400 shares in the last quarter. ARGA Investment Management LP increased its stake in Apache Corporation by 27.8% during the 2nd quarter. ARGA Investment Management LP now owns 88,829 shares of the energy company’s stock valued at $4,258,000 after purchasing an additional 19,300 shares in the last quarter. Hosking Partners LLP increased its stake in Apache Corporation by 97.4% during the 2nd quarter. Hosking Partners LLP now owns 90,472 shares of the energy company’s stock valued at $4,336,000 after purchasing an additional 44,629 shares in the last quarter. Finally, Mitchell Group Inc. increased its stake in Apache Corporation by 2.1% during the 2nd quarter. Mitchell Group Inc. now owns 593,457 shares of the energy company’s stock valued at $28,444,000 after purchasing an additional 12,438 shares in the last quarter. Institutional investors and hedge funds own 95.00% 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. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

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