JPMorgan Chase & Co. set a $35.00 price objective on Apache (NYSE:APA) in a research report sent to investors on Friday morning. The brokerage currently has a sell rating on the energy company’s stock.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research raised Apache from a hold rating to a buy rating and set a $54.00 target price for the company in a research note on Thursday, September 27th. Stifel Nicolaus reiterated a hold rating and issued a $49.00 price target on shares of Apache in a research report on Wednesday, October 24th. Edward Jones lowered Apache from a buy rating to a hold rating in a research report on Tuesday, September 18th. Mizuho reiterated a hold rating and issued a $47.00 price target on shares of Apache in a research report on Monday, October 22nd. Finally, Morgan Stanley decreased their price target on Apache from $42.00 to $41.00 and set a sell rating for the company in a research report on Tuesday, September 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $45.77.
APA stock traded down $0.89 during trading hours on Friday, hitting $33.01. 5,130,911 shares of the stock traded hands, compared to its average volume of 3,987,766. Apache has a one year low of $32.96 and a one year high of $50.03. The stock has a market capitalization of $12.87 billion, a P/E ratio of 137.54, a P/E/G ratio of 2.41 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90.
Apache (NYSE:APA) last announced its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Apache had a return on equity of 7.71% and a net margin of 12.11%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business posted $0.04 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts anticipate that Apache will post 2.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Monday, October 22nd were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. Apache’s dividend payout ratio (DPR) is 416.67%.
In other Apache news, insider Rebecca A. Hoyt sold 6,111 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $47.48, for a total transaction of $290,150.28. Following the completion of the sale, the insider now directly owns 30,548 shares in the company, valued at approximately $1,450,419.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.59% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation acquired a new stake in Apache during the 3rd quarter worth about $103,000. Field & Main Bank purchased a new stake in shares of Apache during the 3rd quarter worth about $120,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Apache during the 3rd quarter worth about $205,000. Wesbanco Bank Inc. purchased a new stake in shares of Apache during the 2nd quarter worth about $207,000. Finally, Mutual Advisors LLC purchased a new stake in shares of Apache during the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.
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.
Featured Story: Technical Analysis
Receive News & Ratings for Apache Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache and related companies with MarketBeat.com's FREE daily email newsletter.