Apache Corporation (APA) to Post Q3 2017 Earnings of ($0.01) Per Share, Jefferies Group Forecasts

Apache Corporation (NYSE:APA) – Equities research analysts at Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for Apache Corporation in a research report issued to clients and investors on Tuesday. Jefferies Group analyst M. Lear now forecasts that the energy company will post earnings per share of ($0.01) for the quarter, down from their previous estimate of $0.01. Jefferies Group has a “Underperform” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for Apache Corporation’s Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.03 EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.06 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.45 EPS, Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.20 EPS and FY2019 earnings at $0.77 EPS.

Other research analysts also recently issued reports about the company. Scotiabank set a $50.00 target price on Apache Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. Wolfe Research downgraded Apache Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Wells Fargo & Company reiterated a “market perform” rating and set a $48.00 target price (down from $55.00) on shares of Apache Corporation in a research report on Saturday, July 22nd. Citigroup Inc. lowered their target price on Apache Corporation from $58.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Finally, Zacks Investment Research downgraded Apache Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Nine analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.06.

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Apache Corporation (NYSE:APA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) EPS.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be paid 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 dividend yield of 2.41%. Apache Corporation’s dividend payout ratio is currently -4,997.50%.

In other news, Director George D. Lawrence purchased 900 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the completion of the purchase, the director now owns 38,445 shares in the company, valued at approximately $1,633,528.05. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director John E. Lowe purchased 2,500 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 5,500 shares of company stock worth $235,094. Insiders own 0.48% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Beese Fulmer Investment Management Inc. increased its stake in shares of Apache Corporation by 0.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 6,016 shares of the energy company’s stock valued at $288,000 after buying an additional 23 shares during the period. Ray Gerald L & Associates Ltd. increased its stake in shares of Apache Corporation by 0.4% during the second quarter. Ray Gerald L & Associates Ltd. now owns 12,900 shares of the energy company’s stock valued at $618,000 after buying an additional 50 shares during the period. Tdam USA Inc. increased its stake in shares of Apache Corporation by 0.5% during the second quarter. Tdam USA Inc. now owns 10,426 shares of the energy company’s stock valued at $495,000 after buying an additional 55 shares during the period. Huntington National Bank increased its stake in shares of Apache Corporation by 1.1% during the second quarter. Huntington National Bank now owns 5,449 shares of the energy company’s stock valued at $261,000 after buying an additional 58 shares during the period. Finally, Fulton Bank N.A. increased its stake in shares of Apache Corporation by 0.6% during the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock valued at $494,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 95.00% of the company’s stock.

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.

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

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