Jefferies Group Analysts Increase Earnings Estimates for Apache Co. (APA)

Apache Co. (NYSE:APA) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share estimates for shares of Apache in a research note issued to investors on Wednesday. Jefferies Group analyst M. Lear now expects that the energy company will post earnings per share of $0.26 for the year, up from their prior forecast of $0.06. Jefferies Group currently has a “Sell” rating and a $35.00 target price on the stock. Jefferies Group also issued estimates for Apache’s Q4 2017 earnings at $0.35 EPS, Q1 2018 earnings at $0.39 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.42 EPS and FY2018 earnings at $1.67 EPS.

Apache (NYSE:APA) last posted its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Apache had a net margin of 10.60% and a negative return on equity of 0.70%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS.

Several other equities research analysts have also recently commented on APA. Zacks Investment Research cut shares of Apache from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Morgan Stanley boosted their target price on shares of Apache from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co lowered shares of Apache from a “neutral” rating to an “underweight” rating and cut their target price for the company from $46.00 to $38.00 in a research report on Thursday, September 14th. Barclays cut their target price on shares of Apache from $30.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, October 11th. Finally, Royal Bank of Canada restated a “hold” rating and set a $55.00 target price on shares of Apache in a research report on Tuesday, November 7th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Apache presently has a consensus rating of “Hold” and an average target price of $45.82.

Shares of Apache (NYSE APA) opened at $43.31 on Friday. Apache has a twelve month low of $38.14 and a twelve month high of $67.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37.

A number of institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its holdings in shares of Apache by 8.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,465,263 shares of the energy company’s stock worth $70,231,000 after purchasing an additional 108,103 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Apache during the 2nd quarter valued at about $200,000. Alps Advisors Inc. purchased a new stake in shares of Apache during the 2nd quarter valued at about $282,000. Blair William & Co. IL raised its holdings in shares of Apache by 8.2% during the 2nd quarter. Blair William & Co. IL now owns 62,299 shares of the energy company’s stock valued at $2,986,000 after buying an additional 4,705 shares during the period. Finally, BB&T Securities LLC raised its holdings in shares of Apache by 29.5% during the 2nd quarter. BB&T Securities LLC now owns 28,779 shares of the energy company’s stock valued at $1,379,000 after buying an additional 6,555 shares during the period. 94.56% of the stock is currently owned by institutional investors.

In other news, insider P Anthony Lannie sold 19,514 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $44.04, for a total transaction of $859,396.56. Following the completion of the sale, the insider now owns 37,469 shares in the company, valued at $1,650,134.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Lowe bought 3,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was purchased at an average cost of $40.02 per share, for a total transaction of $120,060.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $600,300. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, January 19th. Apache’s dividend payout ratio is currently 57.47%.

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About Apache

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.

Earnings History and Estimates for Apache (NYSE:APA)

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