Analysts Expect Apache Co. (APA) Will Announce Quarterly Sales of $1.65 Billion

Equities analysts expect that Apache Co. (NYSE:APA) will announce sales of $1.65 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Apache’s earnings, with the highest sales estimate coming in at $1.74 billion and the lowest estimate coming in at $1.56 billion. Apache posted sales of $1.88 billion in the same quarter last year, which would indicate a negative year over year growth rate of 12.2%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 2nd.

On average, analysts expect that Apache will report full year sales of $6.83 billion for the current financial year, with estimates ranging from $6.54 billion to $7.16 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.96 billion per share, with estimates ranging from $6.61 billion to $7.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Apache.

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Apache (NYSE:APA) last announced its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.12. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.54 billion. Apache had a net margin of 20.32% and a return on equity of 1.11%. During the same period in the prior year, the company posted ($0.06) earnings per share.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus set a $41.00 price objective on shares of Apache and gave the stock a “hold” rating in a research note on Tuesday, January 30th. ValuEngine downgraded shares of Apache from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $45.00 price objective on shares of Apache in a research note on Monday, March 5th. UBS assumed coverage on shares of Apache in a research note on Wednesday, March 7th. They set a “sell” rating and a $34.00 price objective on the stock. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $39.00 price objective (down from $43.00) on shares of Apache in a research note on Friday, February 23rd. Ten equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Apache currently has a consensus rating of “Hold” and an average price target of $41.27.

Apache stock traded down $0.44 during trading hours on Tuesday, reaching $41.34. 2,700,474 shares of the stock were exchanged, compared to its average volume of 4,970,877. The company has a market capitalization of $16,341.22, a price-to-earnings ratio of 171.88, a PEG ratio of 4.15 and a beta of 1.10. The company has a quick ratio of 1.31, a current ratio of 1.45 and a debt-to-equity ratio of 0.90. Apache has a twelve month low of $33.60 and a twelve month high of $52.67.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.42%. Apache’s dividend payout ratio (DPR) is currently 416.67%.

In related news, Director John E. Lowe bought 2,500 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was purchased at an average price of $33.80 per share, with a total value of $84,500.00. Following the completion of the acquisition, the director now owns 17,500 shares of the company’s stock, valued at $591,500. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.59% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of APA. Hexavest Inc. bought a new position in Apache in the 4th quarter valued at approximately $30,979,000. Slate Path Capital LP bought a new position in Apache in the 4th quarter valued at approximately $25,754,000. Millennium Management LLC bought a new position in Apache in the 4th quarter valued at approximately $25,004,000. APG Asset Management N.V. raised its holdings in Apache by 19.9% in the 4th quarter. APG Asset Management N.V. now owns 3,394,463 shares of the energy company’s stock valued at $119,349,000 after buying an additional 564,551 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in Apache by 1,199.9% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 549,915 shares of the energy company’s stock valued at $23,217,000 after buying an additional 507,610 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

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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 Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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Earnings History and Estimates for Apache (NYSE:APA)

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