Apache Corporation (NYSE:APA) has been given an average recommendation of “Hold” by the twenty-seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $56.00.
A number of research analysts have weighed in on APA shares. BidaskClub upgraded Apache Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Wells Fargo & Company restated a “market perform” rating and issued a $48.00 price target (down from $55.00) on shares of Apache Corporation in a research note on Saturday, July 22nd. ValuEngine downgraded Apache Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Barclays PLC restated a “sell” rating and issued a $41.00 price target (down from $50.00) on shares of Apache Corporation in a research note on Thursday, April 20th. Finally, Zacks Investment Research upgraded Apache Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st.
In related news, Director John E. Lowe acquired 2,500 shares of the company’s stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $44.90 per share, with a total value of $112,250.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $449,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Rene R. Joyce acquired 10,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was bought at an average cost of $51.38 per share, with a total value of $513,800.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $513,800. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in APA. BlackRock Inc. boosted its position in Apache Corporation by 3,551.6% in the first quarter. BlackRock Inc. now owns 29,003,850 shares of the energy company’s stock worth $1,490,509,000 after buying an additional 28,209,565 shares during the period. Vanguard Group Inc. boosted its position in Apache Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 26,319,658 shares of the energy company’s stock worth $1,352,568,000 after buying an additional 626,822 shares during the period. State Street Corp boosted its position in Apache Corporation by 0.7% in the first quarter. State Street Corp now owns 19,938,329 shares of the energy company’s stock worth $1,024,633,000 after buying an additional 146,990 shares during the period. Harris Associates L P boosted its position in Apache Corporation by 16.4% in the first quarter. Harris Associates L P now owns 16,397,422 shares of the energy company’s stock worth $842,663,000 after buying an additional 2,307,915 shares during the period. Finally, Franklin Resources Inc. boosted its position in Apache Corporation by 11.2% in the second quarter. Franklin Resources Inc. now owns 13,215,507 shares of the energy company’s stock worth $633,381,000 after buying an additional 1,335,127 shares during the period. 94.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Apache Corporation (APA) opened at 42.61 on Monday. Apache Corporation has a 12 month low of $42.35 and a 12 month high of $69.00. The firm’s 50-day moving average price is $47.23 and its 200-day moving average price is $50.70. The company’s market cap is $16.23 billion.
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 Zacks’ consensus estimate of $0.01 by $0.22. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) EPS. Equities analysts predict that Apache Corporation will post $0.22 EPS for the current fiscal year.
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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.
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