Apache Corporation (NYSE:APA) Earns Market Perform Rating from Wells Fargo & Company

Wells Fargo & Company reissued their market perform rating on shares of Apache Corporation (NYSE:APA) in a research note published on Saturday, July 22nd. They currently have a $48.00 target price on the energy company’s stock, down from their previous target price of $55.00.

A number of other research analysts have also weighed in on the company. Scotiabank set a $50.00 price objective on Apache Corporation and gave the company a hold rating in a research report on Saturday, July 1st. BidaskClub raised Apache Corporation from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. BMO Capital Markets reaffirmed a hold rating and set a $53.00 price objective on shares of Apache Corporation in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a sell rating and set a $40.00 price objective on shares of Apache Corporation in a research report on Wednesday, May 17th. Finally, Stifel Nicolaus initiated coverage on Apache Corporation in a report on Friday, April 7th. They issued a hold rating and a $54.00 target price for the company. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $56.26.

Apache Corporation (NYSE APA) traded up 1.05% during midday trading on Friday, hitting $40.31. The stock had a trading volume of 3,046,453 shares. The company’s market cap is $15.36 billion. The firm’s 50-day moving average price is $46.31 and its 200 day moving average price is $49.83. Apache Corporation has a 12 month low of $39.78 and a 12 month high of $69.00.

Apache Corporation (NYSE:APA) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company posted ($0.26) EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, analysts expect that Apache Corporation will post $0.09 earnings per share for the current fiscal year.

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In other news, Director John E. Lowe bought 2,500 shares of Apache Corporation stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of $44.90 per share, with a total value of $112,250.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George D. Lawrence bought 900 shares of Apache Corporation stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the acquisition, the director now directly owns 38,445 shares of the company’s stock, valued at approximately $1,633,528.05. The disclosure for this purchase can be found here. Insiders bought 5,400 shares of company stock worth $231,131 over the last ninety days. Insiders own 0.48% of the company’s stock.

Large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Apache Corporation by 25.8% in the fourth quarter. AQR Capital Management LLC now owns 58,315 shares of the energy company’s stock valued at $3,701,000 after buying an additional 11,974 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Apache Corporation by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,140 shares of the energy company’s stock valued at $834,000 after buying an additional 690 shares during the last quarter. Whalerock Point Partners LLC boosted its stake in shares of Apache Corporation by 32.2% in the fourth quarter. Whalerock Point Partners LLC now owns 6,875 shares of the energy company’s stock valued at $437,000 after buying an additional 1,675 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of Apache Corporation during the fourth quarter valued at $1,748,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Apache Corporation during the fourth quarter valued at $780,000. 93.72% of the stock is currently owned by hedge funds and other 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. It has production in four segments: the United States, Canada, 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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