Apache (APA) PT Set at $51.00 by Royal Bank of Canada

Royal Bank of Canada set a $51.00 price target on Apache (NYSE:APA) in a report issued on Wednesday, December 20th. The brokerage currently has a hold rating on the energy company’s stock.

A number of other analysts have also issued reports on APA. Jefferies Group set a $35.00 price objective on shares of Apache and gave the stock a sell rating in a report on Tuesday, August 29th. JPMorgan Chase & Co. downgraded shares of Apache from a neutral rating to an underweight rating and decreased their price objective for the stock from $46.00 to $38.00 in a report on Thursday, September 14th. Sanford C. Bernstein reaffirmed an outperform rating on shares of Apache in a report on Thursday, September 21st. Stifel Nicolaus set a $42.00 price objective on shares of Apache and gave the stock a hold rating in a report on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Apache from a hold rating to a sell rating in a report on Tuesday, October 10th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $45.94.

Apache (APA) traded up $1.16 during midday trading on Wednesday, reaching $47.16. 3,724,500 shares of the company traded hands, compared to its average volume of 3,590,000. Apache has a 52-week low of $38.14 and a 52-week high of $64.13. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37. The stock has a market capitalization of $17,970.00, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 10.18 and a beta of 1.05.

Apache (NYSE:APA) last posted its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. Apache 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 last year, the firm posted ($0.03) earnings per share. sell-side analysts anticipate that Apache will post 0.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, January 19th. Apache’s dividend payout ratio (DPR) is presently 57.80%.

In other Apache news, Director John E. Lowe bought 3,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were bought at an average price of $40.02 per share, with a total value of $120,060.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $600,300. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider P Anthony Lannie sold 19,514 shares of Apache stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $44.04, for a total value of $859,396.56. Following the transaction, the insider now directly owns 37,469 shares in the company, valued at approximately $1,650,134.76. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in APA. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Apache by 658.0% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock valued at $355,991,000 after buying an additional 6,447,400 shares in the last quarter. Baillie Gifford & Co. boosted its position in Apache by 58.0% during the second quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock worth $595,767,000 after purchasing an additional 4,561,430 shares during the period. Harris Associates L P boosted its position in Apache by 14.3% during the second quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after purchasing an additional 2,343,985 shares during the period. Point72 Asset Management L.P. bought a new stake in Apache during the third quarter worth approximately $93,596,000. Finally, Orbis Allan Gray Ltd boosted its position in Apache by 11.5% during the second quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after purchasing an additional 1,381,096 shares during the period. 94.56% of the stock is owned by institutional investors and hedge funds.

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About Apache

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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