Apache Co. (NYSE:APA) – Research analysts at Seaport Global Securities lifted their FY2017 earnings estimates for shares of Apache in a research report issued on Monday. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will earn $0.14 per share for the year, up from their previous estimate of $0.13. Seaport Global Securities also issued estimates for Apache’s Q4 2017 earnings at $0.23 EPS.
A number of other equities research analysts have also weighed in on APA. ValuEngine lowered Apache from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Stifel Nicolaus set a $41.00 price target on Apache and gave the stock a “hold” rating in a research note on Tuesday, January 30th. Morgan Stanley boosted their price target on Apache from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. BMO Capital Markets set a $45.00 price target on Apache and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Finally, Bank of America boosted their price target on Apache from $41.00 to $42.00 and gave the stock an “underperform” rating in a research note on Monday, November 6th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $45.69.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. Apache’s dividend payout ratio is currently 57.47%.
In other news, Director John E. Lowe bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were purchased at an average price of $40.02 per share, for a total transaction of $120,060.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $600,300. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider P Anthony Lannie sold 19,514 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total value of $859,396.56. Following the completion of the sale, the insider now owns 37,469 shares in the company, valued at approximately $1,650,134.76. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in Apache in the third quarter valued at approximately $134,000. Valeo Financial Advisors LLC acquired a new position in Apache in the third quarter valued at approximately $135,000. Gs Investments Inc. acquired a new position in Apache in the second quarter valued at approximately $149,000. North Star Asset Management Inc. acquired a new position in Apache in the third quarter valued at approximately $206,000. Finally, Deprince Race & Zollo Inc. acquired a new position in Apache in the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 94.72% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Seaport Global Securities Research Analysts Raise Earnings Estimates for Apache Co. (APA)” was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.com-unik.info/2018/02/07/seaport-global-securities-research-analysts-raise-earnings-estimates-for-apache-co-apa.html.
Apache Company Profile
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.
Receive News & Ratings for Apache Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache and related companies with MarketBeat.com's FREE daily email newsletter.