Stock analysts at Mitsubishi UFJ Financial Group began coverage on shares of Apache Corp. (NYSE:APA) in a note issued to investors on Monday. The brokerage set a “neutral” rating and a $64.00 price target on the energy company’s stock. Mitsubishi UFJ Financial Group’s target price points to a potential upside of 7.40% from the stock’s previous close.
Several other research analysts also recently commented on APA. Barclays PLC raised their price objective on shares of Apache Corp. from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 13th. Atlantic Securities raised shares of Apache Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $70.00 in a report on Monday, September 12th. Jefferies Group raised their price objective on shares of Apache Corp. from $42.00 to $47.00 and gave the stock an “underperform” rating in a report on Monday, September 12th. Wolfe Research raised shares of Apache Corp. from an “underperform” rating to a “market perform” rating in a report on Monday, September 12th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Apache Corp. in a report on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Apache Corp. presently has a consensus rating of “Hold” and an average target price of $57.92.
Apache Corp. (NYSE:APA) opened at 59.59 on Monday. The firm’s market capitalization is $22.61 billion. The stock’s 50 day moving average is $54.59 and its 200 day moving average is $53.79. Apache Corp. has a one year low of $32.20 and a one year high of $62.19.
Apache Corp. (NYSE:APA) last issued its quarterly earnings results on Thursday, August 4th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s revenue for the quarter was down 38.5% on a year-over-year basis. On average, equities research analysts predict that Apache Corp. will post ($0.71) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, October 19th. Apache Corp.’s dividend payout ratio is currently -2.78%.
In related news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total transaction of $204,514.64. Following the transaction, the insider now owns 12,755 shares in the company, valued at $777,289.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in APA. Orbis Allan Gray Ltd bought a new position in shares of Apache Corp. during the first quarter valued at about $746,349,000. FIL Ltd bought a new position in shares of Apache Corp. during the second quarter valued at about $227,262,000. Dodge & Cox boosted its position in shares of Apache Corp. by 12.5% in the first quarter. Dodge & Cox now owns 29,259,714 shares of the energy company’s stock valued at $1,428,167,000 after buying an additional 3,245,030 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Apache Corp. by 11.2% in the first quarter. Franklin Resources Inc. now owns 15,268,708 shares of the energy company’s stock valued at $745,272,000 after buying an additional 1,537,564 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Apache Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 24,605,166 shares of the energy company’s stock valued at $1,369,769,000 after buying an additional 1,199,481 shares in the last quarter. Institutional investors own 91.25% of the company’s stock.
About Apache Corp.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
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