Apache (NYSE:APA) Shares Gap Down to $21.46

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Apache Co. (NYSE:APA)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $21.99, but opened at $21.46. Apache shares last traded at $20.69, with a volume of 7,435,059 shares trading hands.

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price objective on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Morgan Stanley lowered their price objective on Apache from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 3rd. Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Monday, May 20th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Apache in a research note on Friday, June 21st. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.33.

The firm has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $29.82. The company has a market capitalization of $8.07 billion, a PE ratio of 11.69, a P/E/G ratio of 9.64 and a beta of 1.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.03 and a current ratio of 1.23.

Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. Research analysts expect that Apache Co. will post 0.37 EPS for the current fiscal year.

In other news, EVP William Mark Meyer acquired 2,000 shares of Apache stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $25.92 per share, for a total transaction of $51,840.00. Following the acquisition, the executive vice president now directly owns 2,919 shares of the company’s stock, valued at approximately $75,660.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John E. Lowe acquired 5,000 shares of Apache stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $21.83 per share, for a total transaction of $109,150.00. Following the completion of the acquisition, the director now directly owns 30,000 shares in the company, valued at $654,900. The disclosure for this purchase can be found here. Company insiders own 0.69% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APA. Dimensional Fund Advisors LP increased its position in Apache by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock worth $144,156,000 after buying an additional 945,212 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Apache by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 4,866,739 shares of the energy company’s stock worth $127,525,000 after purchasing an additional 340,044 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Apache during the first quarter worth about $114,000. Advisor Partners LLC purchased a new position in Apache during the 1st quarter valued at approximately $290,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in Apache by 17.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,699 shares of the energy company’s stock valued at $1,966,000 after buying an additional 8,271 shares in the last quarter. Institutional investors own 95.41% of the company’s stock.

About Apache (NYSE:APA)

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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