Apache Co. (NYSE:APA) – Research analysts at Jefferies Group cut their Q1 2018 earnings estimates for Apache in a note issued to investors on Monday. Jefferies Group analyst M. Lear now forecasts that the energy company will post earnings of $0.27 per share for the quarter, down from their prior estimate of $0.49. Jefferies Group currently has a “Sell” rating and a $32.00 price objective on the stock. Jefferies Group also issued estimates for Apache’s Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.31 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.31 EPS.
Apache (NYSE:APA) last issued its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.12. Apache had a net margin of 20.32% and a return on equity of 1.11%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned ($0.06) earnings per share.
Several other equities research analysts also recently issued reports on the stock. UBS began coverage on shares of Apache in a research report on Wednesday, March 7th. They set a “sell” rating and a $34.00 price objective for the company. Royal Bank of Canada reissued a “hold” rating and set a $45.00 price objective on shares of Apache in a research report on Monday, March 5th. Citigroup decreased their target price on shares of Apache from $46.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 target price on shares of Apache in a research report on Tuesday, February 27th. Finally, Mitsubishi UFJ Financial Group raised shares of Apache from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 27th. Ten analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $40.47.
Shares of APA stock opened at $38.10 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.31 and a debt-to-equity ratio of 0.90. Apache has a 12-month low of $33.60 and a 12-month high of $54.64. The stock has a market cap of $13,568.10, a price-to-earnings ratio of 11.17, a PEG ratio of 3.12 and a beta of 1.25.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 22nd. Shareholders of record on Monday, April 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, April 20th. Apache’s dividend payout ratio is currently 29.33%.
In other news, Director John E. Lowe purchased 2,500 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average price of $33.80 per share, for a total transaction of $84,500.00. Following the completion of the purchase, the director now directly owns 17,500 shares in the company, valued at approximately $591,500. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its stake in Apache by 6.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 26,020 shares of the energy company’s stock valued at $1,099,000 after acquiring an additional 1,594 shares during the last quarter. Colonial Trust Advisors lifted its stake in Apache by 19.4% in the fourth quarter. Colonial Trust Advisors now owns 23,918 shares of the energy company’s stock valued at $1,010,000 after acquiring an additional 3,891 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Apache by 11.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 36,148 shares of the energy company’s stock valued at $1,526,000 after acquiring an additional 3,741 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Apache by 2.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 211,822 shares of the energy company’s stock valued at $8,943,000 after acquiring an additional 4,498 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in Apache in the fourth quarter valued at $1,422,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.
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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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