Apache (NYSE:APA) had its target price trimmed by Credit Suisse Group from $20.00 to $16.00 in a research report report published on Friday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the energy company’s stock.
Several other brokerages also recently weighed in on APA. SunTrust Banks initiated coverage on Apache in a report on Monday, September 23rd. They set a buy rating and a $32.00 price target on the stock. Citigroup increased their price target on Apache from $22.00 to $27.00 and gave the company a neutral rating in a research report on Monday, September 23rd. Bank of America upgraded Apache from an underperform rating to a neutral rating and set a $28.00 price objective for the company in a research note on Friday, October 18th. Mitsubishi UFJ Financial Group reissued a neutral rating and set a $28.00 price objective (down from $39.00) on shares of Apache in a research report on Tuesday, October 8th. Finally, Argus lowered shares of Apache from a buy rating to a hold rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $28.40.
NYSE:APA opened at $20.63 on Friday. The company has a fifty day simple moving average of $22.57 and a two-hundred day simple moving average of $24.25. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 11.66 and a beta of 1.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.07. Apache has a 52 week low of $18.33 and a 52 week high of $38.12.
Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, October 30th. The energy company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.10). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Apache had a positive return on equity of 1.08% and a negative net margin of 14.78%. During the same period in the prior year, the company posted $0.63 EPS. On average, analysts expect that Apache will post -0.1 EPS for the current year.
The firm also recently declared a — dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.25 per share. This represents a yield of 4.1%. The ex-dividend date of this dividend was Monday, October 21st. Apache’s dividend payout ratio (DPR) is 56.50%.
In other Apache news, insider Wheals Rob acquired 4,505 shares of the stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $11.06 per share, with a total value of $49,825.30. Corporate insiders own 0.69% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in APA. Vanguard Group Inc. grew its position in shares of Apache by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 42,493,393 shares of the energy company’s stock valued at $1,231,034,000 after buying an additional 720,427 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Apache by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,612,432 shares of the energy company’s stock valued at $75,683,000 after purchasing an additional 39,854 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Apache by 90.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,442,575 shares of the energy company’s stock valued at $70,761,000 after purchasing an additional 1,161,627 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Apache by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,662,416 shares of the energy company’s stock worth $42,558,000 after buying an additional 259,616 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Apache by 1.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,518,352 shares of the energy company’s stock worth $43,486,000 after buying an additional 23,787 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.
Apache Company Profile
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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