Apache Corporation (APA) Receives “Outperform” Rating from Sanford C. Bernstein

Sanford C. Bernstein restated their outperform rating on shares of Apache Corporation (NYSE:APA) in a research note published on Thursday morning.

A number of other equities research analysts have also commented on APA. Stifel Nicolaus restated a hold rating and set a $64.00 price objective on shares of Apache Corporation in a research report on Friday, May 26th. ValuEngine lowered Apache Corporation from a hold rating to a sell rating in a report on Friday, June 2nd. BidaskClub upgraded Apache Corporation from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Royal Bank Of Canada reiterated a hold rating and set a $64.00 price target on shares of Apache Corporation in a report on Friday, June 16th. Finally, Seaport Global Securities lowered Apache Corporation from a neutral rating to a sell rating and reduced their price target for the company from $52.00 to $36.00 in a report on Wednesday, June 21st. Nine investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $53.16.

Shares of Apache Corporation (NYSE APA) traded up 0.02% on Thursday, hitting $43.37. 626,118 shares of the stock traded hands. Apache Corporation has a one year low of $38.14 and a one year high of $69.00. The company’s 50 day moving average is $41.50 and its 200 day moving average is $47.40. The stock’s market cap is $16.52 billion.

Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted ($0.26) earnings per share. The company’s revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that Apache Corporation will post $0.03 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio is currently -4,997.50%.

In other Apache Corporation news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $40.32 per share, with a total value of $80,640.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $483,840. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John E. Lowe purchased 2,500 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $449,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 5,500 shares of company stock worth $235,094. Company insiders own 0.48% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Beese Fulmer Investment Management Inc. increased its position in shares of Apache Corporation by 0.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 6,016 shares of the energy company’s stock valued at $288,000 after purchasing an additional 23 shares during the period. Ray Gerald L & Associates Ltd. increased its position in shares of Apache Corporation by 0.4% during the second quarter. Ray Gerald L & Associates Ltd. now owns 12,900 shares of the energy company’s stock valued at $618,000 after purchasing an additional 50 shares during the period. Tdam USA Inc. increased its position in shares of Apache Corporation by 0.5% during the second quarter. Tdam USA Inc. now owns 10,426 shares of the energy company’s stock valued at $495,000 after purchasing an additional 55 shares during the period. Huntington National Bank increased its position in shares of Apache Corporation by 1.1% during the second quarter. Huntington National Bank now owns 5,449 shares of the energy company’s stock valued at $261,000 after purchasing an additional 58 shares during the period. Finally, Fulton Bank N.A. increased its position in shares of Apache Corporation by 0.6% during the second 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 during the period. 95.00% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Apache Corporation (NYSE:APA)

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