Apache Corporation (NYSE:APA) has been given a $49.00 target price by equities researchers at Scotiabank in a research report issued to clients and investors on Monday. The brokerage presently has a “hold” rating on the energy company’s stock. Scotiabank’s target price indicates a potential upside of 17.00% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Morgan Stanley increased their price target on Apache Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Royal Bank Of Canada set a $55.00 price target on Apache Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Bank of America Corporation increased their price target on Apache Corporation from $41.00 to $42.00 and gave the stock an “underperform” rating in a report on Monday, November 6th. Jefferies Group LLC restated an “underperform” rating and set a $38.00 price target on shares of Apache Corporation in a report on Tuesday, October 10th. Finally, BMO Capital Markets restated a “hold” rating and set a $42.00 price target on shares of Apache Corporation in a report on Tuesday, November 7th. Ten equities research 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. The stock presently has a consensus rating of “Hold” and an average price target of $47.82.
Shares of Apache Corporation (APA) opened at $41.88 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37. Apache Corporation has a 52-week low of $38.14 and a 52-week high of $69.00.
Apache Corporation (NYSE:APA) last released its earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS. equities research analysts expect that Apache Corporation will post -0.01 earnings per share for the current fiscal year.
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In other Apache Corporation news, Director John E. Lowe bought 2,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was purchased 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.48% of the company’s stock.
Several institutional investors have recently made changes to their positions in APA. Creative Planning increased its holdings in Apache Corporation by 8.0% in the 2nd quarter. Creative Planning now owns 30,433 shares of the energy company’s stock worth $1,459,000 after acquiring an additional 2,265 shares during the last quarter. Ardevora Asset Management LLP increased its holdings in Apache Corporation by 43.7% in the 2nd quarter. Ardevora Asset Management LLP now owns 500,500 shares of the energy company’s stock worth $23,989,000 after acquiring an additional 152,200 shares during the last quarter. CWM LLC increased its holdings in Apache Corporation by 408.1% in the 2nd quarter. CWM LLC now owns 568,545 shares of the energy company’s stock worth $27,250,000 after acquiring an additional 456,653 shares during the last quarter. LS Investment Advisors LLC increased its holdings in Apache Corporation by 5.3% in the 2nd quarter. LS Investment Advisors LLC now owns 9,759 shares of the energy company’s stock worth $468,000 after acquiring an additional 495 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Apache Corporation by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the energy company’s stock worth $1,131,000 after acquiring an additional 300 shares during the last quarter. 94.98% of the stock is owned by hedge funds and other institutional investors.
Apache Corporation 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.
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