Brokerages forecast that Apache Co. (NYSE:APA) will report $0.36 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Apache’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.47. Apache posted earnings per share of ($0.21) during the same quarter last year, which would suggest a positive year-over-year growth rate of 271.4%. The company is scheduled to report its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Apache will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.17 to $2.27. For the next year, analysts expect that the business will report earnings of $2.00 per share, with EPS estimates ranging from $1.36 to $3.34. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Apache.
Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, May 2nd. The energy company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. Apache had a net margin of 19.67% and a return on equity of 2.16%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm posted $0.08 earnings per share.
APA has been the topic of several research reports. Zacks Investment Research raised shares of Apache from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Monday, June 18th. Stifel Nicolaus set a $48.00 price objective on shares of Apache and gave the stock a “hold” rating in a research note on Wednesday, March 28th. ValuEngine raised shares of Apache from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 7th. UBS Group initiated 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, BMO Capital Markets reissued a “hold” rating and set a $35.00 price objective on shares of Apache in a research note on Tuesday, February 27th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.81.
In other news, Director John E. Lowe bought 2,500 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were purchased at an average price of $38.35 per share, for a total transaction of $95,875.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $767,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of APA. Baillie Gifford & Co. lifted its stake in shares of Apache by 14.2% in the first quarter. Baillie Gifford & Co. now owns 13,897,323 shares of the energy company’s stock worth $534,769,000 after buying an additional 1,732,383 shares in the last quarter. Slate Path Capital LP purchased a new position in shares of Apache during the fourth quarter valued at approximately $25,754,000. Millennium Management LLC purchased a new position in shares of Apache during the fourth quarter valued at approximately $25,004,000. Orbis Allan Gray Ltd raised its holdings in shares of Apache by 2.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 14,217,029 shares of the energy company’s stock valued at $600,243,000 after purchasing an additional 382,624 shares during the last quarter. Finally, Van Den Berg Management I Inc. raised its holdings in shares of Apache by 81.0% during the fourth quarter. Van Den Berg Management I Inc. now owns 740,362 shares of the energy company’s stock valued at $31,258,000 after purchasing an additional 331,337 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.
NYSE:APA opened at $43.14 on Friday. Apache has a one year low of $33.60 and a one year high of $51.21. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.22 and a current ratio of 1.39. The stock has a market cap of $17.10 billion, a P/E ratio of 179.75, a price-to-earnings-growth ratio of 3.66 and a beta of 1.06.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Stockholders of record on Monday, July 23rd will be paid a $0.25 dividend. The ex-dividend date is Friday, July 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. Apache’s dividend payout ratio is presently 416.67%.
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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