Equities research analysts forecast that Apache Co. (NYSE:APA) will announce earnings of $0.36 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Apache’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.28. Apache reported earnings of ($0.21) per share during the same quarter last year, which suggests a positive year over year growth rate of 271.4%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Apache will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.17 to $2.27. For the next financial year, analysts anticipate that the firm will report earnings of $2.00 per share, with EPS estimates ranging from $1.36 to $3.34. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Apache.
Apache (NYSE:APA) last released its quarterly earnings results on Wednesday, May 2nd. The energy company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Apache had a return on equity of 2.16% and a net margin of 19.67%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $0.08 EPS.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Monday, June 18th. Argus upgraded Apache from a “hold” rating to a “buy” rating and upped their target price for the company from $46.19 to $56.00 in a research report on Monday, June 11th. ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 7th. Stifel Nicolaus set a $46.00 target price on Apache and gave the company a “hold” rating in a research report on Monday, April 23rd. Finally, Royal Bank of Canada set a $48.00 target price on Apache and gave the company a “hold” rating in a research report on Friday, April 13th. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.81.
In related news, Director John E. Lowe acquired 2,500 shares of the stock in a transaction dated Tuesday, June 5th. The stock was purchased at an average cost of $38.35 per share, with a total value of $95,875.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $767,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.59% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in Apache by 255.9% during the fourth quarter. First Trust Advisors LP now owns 238,432 shares of the energy company’s stock valued at $10,067,000 after purchasing an additional 171,447 shares during the period. State of Wisconsin Investment Board grew its holdings in Apache by 4.7% during the fourth quarter. State of Wisconsin Investment Board now owns 302,301 shares of the energy company’s stock valued at $12,763,000 after purchasing an additional 13,434 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Apache by 176.1% in the fourth quarter. Pinebridge Investments L.P. now owns 3,495 shares of the energy company’s stock worth $148,000 after acquiring an additional 2,229 shares during the period. Arizona State Retirement System boosted its holdings in shares of Apache by 2.3% in the fourth quarter. Arizona State Retirement System now owns 96,515 shares of the energy company’s stock worth $4,075,000 after acquiring an additional 2,130 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Apache by 1.1% in the fourth quarter. Bank of New York Mellon Corp now owns 3,014,831 shares of the energy company’s stock worth $127,285,000 after acquiring an additional 34,091 shares during the period. 98.14% of the stock is owned by institutional investors.
Shares of Apache traded up $0.02, reaching $45.91, during trading on Friday, according to MarketBeat. The company had a trading volume of 284,503 shares, compared to its average volume of 5,084,840. Apache has a 12 month low of $33.60 and a 12 month high of $51.21. The firm has a market capitalization of $16.88 billion, a PE ratio of 191.38, a price-to-earnings-growth ratio of 3.64 and a beta of 1.06. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.89.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 22nd. Stockholders of record on Monday, July 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, July 20th. Apache’s dividend payout ratio (DPR) is presently 416.67%.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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