Stock Traders Purchase Large Volume of Call Options on Apache Corporation (NYSE:APA)

Apache Corporation (NYSE:APA) saw unusually large options trading on Wednesday. Traders bought 1,516 call options on the company. This is an increase of approximately 470% compared to the average volume of 266 call options.

Shares of Apache Corporation (APA) opened at C$44.13 on Monday. Apache Corporation has a 12-month low of C$38.14 and a 12-month high of C$69.00. The company has a current ratio of 1.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.95.

Apache Corporation (NYSE:APA) last released its quarterly earnings results on Thursday, November 2nd. The company reported C$0.04 earnings per share for the quarter, topping the consensus estimate of C($0.05) by C$0.09. The firm had revenue of C$1.39 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Apache Corporation had a net margin of 10.60% and a negative return on equity of 0.70%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. sell-side analysts predict that Apache Corporation will post -0.01 earnings per share for the current year.

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

In other news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of C$40.32 per share, with a total value of C$80,640.00. Following the completion of the purchase, the director now directly owns 12,000 shares of the company’s stock, 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 hyperlink. 0.48% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dodge & Cox boosted its position in Apache Corporation by 4.0% during the second quarter. Dodge & Cox now owns 29,922,731 shares of the company’s stock valued at $1,434,196,000 after buying an additional 1,152,395 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Apache Corporation by 0.5% during the second quarter. Vanguard Group Inc. now owns 26,448,494 shares of the company’s stock worth $1,267,676,000 after purchasing an additional 128,836 shares during the period. State Street Corp boosted its holdings in shares of Apache Corporation by 0.7% during the second quarter. State Street Corp now owns 20,068,849 shares of the company’s stock worth $961,903,000 after purchasing an additional 130,520 shares during the period. Harris Associates L P boosted its holdings in shares of Apache Corporation by 14.3% during the second quarter. Harris Associates L P now owns 18,741,407 shares of the company’s stock worth $898,275,000 after purchasing an additional 2,343,985 shares during the period. Finally, FMR LLC boosted its holdings in shares of Apache Corporation by 2.7% during the second quarter. FMR LLC now owns 15,112,873 shares of the company’s stock worth $724,360,000 after purchasing an additional 404,098 shares during the period. Institutional investors and hedge funds own 94.98% of the company’s stock.

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

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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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