Apache (NYSE:APA) received a $32.00 price objective from analysts at Jefferies Group in a report released on Monday, March 19th. The brokerage presently has a “sell” rating on the energy company’s stock. Jefferies Group’s target price points to a potential downside of 18.74% from the stock’s previous close. Jefferies Group also issued estimates for Apache’s Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.31 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.31 EPS.
A number of other analysts have also commented on the company. UBS began coverage on Apache in a report on Wednesday, March 7th. They issued a “sell” rating and a $34.00 price target on the stock. Royal Bank of Canada restated a “hold” rating and issued a $45.00 price target on shares of Apache in a report on Monday, March 5th. Citigroup cut their price target on Apache from $46.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets restated a “hold” rating and issued a $35.00 price target on shares of Apache in a report on Tuesday, February 27th. Finally, Mitsubishi UFJ Financial Group upgraded Apache from a “neutral” rating to an “overweight” rating in a report on Tuesday, February 27th. Ten equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $41.07.
APA stock traded down $0.26 during midday trading on Monday, hitting $39.38. 3,512,432 shares of the company’s stock were exchanged, compared to its average volume of 5,065,035. The company has a current ratio of 1.45, a quick ratio of 1.31 and a debt-to-equity ratio of 0.90. The firm has a market cap of $14,983.27, a PE ratio of 164.08, a P/E/G ratio of 3.62 and a beta of 1.10. Apache has a one year low of $33.60 and a one year high of $54.29.
Apache (NYSE:APA) last posted its earnings results on Thursday, February 22nd. The energy company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.12. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. Apache had a return on equity of 1.11% and a net margin of 20.32%. During the same period in the previous year, the company posted ($0.06) earnings per share. analysts forecast that Apache will post 1.55 earnings per share for the current year.
In other Apache news, Director John E. Lowe purchased 2,500 shares of the stock in a transaction on Friday, March 2nd. The shares were purchased at an average price of $33.80 per share, with a total value of $84,500.00. Following the completion of the transaction, the director now directly owns 17,500 shares in the company, valued at $591,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Apache in the third quarter valued at approximately $134,000. Valeo Financial Advisors LLC acquired a new position in shares of Apache in the third quarter valued at approximately $135,000. Pinebridge Investments L.P. grew its position in shares of Apache by 176.1% in the fourth quarter. Pinebridge Investments L.P. now owns 3,495 shares of the energy company’s stock valued at $148,000 after purchasing an additional 2,229 shares during the last quarter. M Holdings Securities Inc. acquired a new position in shares of Apache in the fourth quarter valued at approximately $205,000. Finally, SevenBridge Financial Group LLC grew its position in shares of Apache by 83.3% in the third quarter. SevenBridge Financial Group LLC now owns 4,551 shares of the energy company’s stock valued at $208,000 after purchasing an additional 2,068 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.
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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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