Apache Corporation (APA) Expected to Announce Earnings of $0.10 Per Share

Brokerages expect that Apache Corporation (NYSE:APA) will post earnings of $0.10 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Apache Corporation’s earnings, with estimates ranging from ($0.17) to $0.20. Apache Corporation reported earnings per share of ($0.06) during the same quarter last year, which suggests a positive year over year growth rate of 266.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Apache Corporation will report full year earnings of ($0.01) per share for the current financial year, with EPS estimates ranging from ($0.26) to $0.11. For the next year, analysts anticipate that the business will post earnings of $0.35 per share, with EPS estimates ranging from ($1.32) to $1.22. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Apache Corporation.

Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, November 2nd. The company reported C$0.04 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.09. Apache Corporation had a negative return on equity of 0.70% and a net margin of 10.60%. The business had revenue of C$1.39 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. During the same quarter last year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis.

Several equities analysts have recently weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Apache Corporation in a research note on Tuesday, November 7th. Royal Bank Of Canada reissued a “hold” rating and set a $55.00 price target on shares of Apache Corporation in a research report on Tuesday, November 7th. Bank of America Corporation boosted their price target on Apache Corporation from $41.00 to $42.00 and gave the stock an “underperform” rating in a research report on Monday, November 6th. Morgan Stanley boosted their price target on Apache Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Barclays PLC dropped their price objective on Apache Corporation from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, October 11th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$47.82.

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In related news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of C$40.32 per share, for a total transaction of C$80,640.00. Following the completion of the purchase, the director now owns 12,000 shares in the company, valued at approximately C$483,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Beese Fulmer Investment Management Inc. increased its holdings in shares of Apache Corporation by 0.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 6,016 shares of the company’s stock worth $288,000 after buying an additional 23 shares in the last quarter. Ray Gerald L & Associates Ltd. increased its holdings in Apache Corporation by 0.4% in the second quarter. Ray Gerald L & Associates Ltd. now owns 12,900 shares of the company’s stock valued at $618,000 after purchasing an additional 50 shares during the period. Tdam USA Inc. increased its holdings in Apache Corporation by 0.5% in the second quarter. Tdam USA Inc. now owns 10,426 shares of the company’s stock valued at $495,000 after purchasing an additional 55 shares during the period. Huntington National Bank boosted its position in Apache Corporation by 1.1% during the second quarter. Huntington National Bank now owns 5,449 shares of the company’s stock valued at $261,000 after acquiring an additional 58 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Apache Corporation by 1.5% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 6,024 shares of the company’s stock valued at $290,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Shares of Apache Corporation (NYSE APA) opened at C$44.13 on Monday. Apache Corporation has a 52-week low of C$38.14 and a 52-week high of C$69.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.47.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio is presently 57.47%.

Apache Corporation Company Profile

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

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Earnings History and Estimates for Apache Corporation (NYSE:APA)

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