Apache (APA) Given New $36.00 Price Target at BMO Capital Markets

Apache (NYSE:APA) had its price target boosted by investment analysts at BMO Capital Markets from $30.00 to $36.00 in a research report issued on Friday, Marketbeat reports. The brokerage presently has a “market perform” rating on the energy company’s stock. BMO Capital Markets’ price target suggests a potential upside of 1.21% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Raymond James set a $44.00 price target on shares of Apache and gave the company a “buy” rating in a research note on Wednesday, January 23rd. ValuEngine raised shares of Apache from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 30th. Citigroup increased their price objective on shares of Apache from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Barclays initiated coverage on shares of Apache in a report on Wednesday, January 16th. They issued an “underweight” rating and a $29.00 target price for the company. Finally, Seaport Global Securities reissued a “hold” rating on shares of Apache in a research report on Wednesday, January 30th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $42.27.

Shares of NYSE:APA opened at $35.57 on Friday. The stock has a market cap of $13.35 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 6.10 and a beta of 1.76. Apache has a 12-month low of $24.56 and a 12-month high of $50.03. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.22 and a quick ratio of 1.04.

Apache (NYSE:APA) last posted its earnings results on Wednesday, February 27th. The energy company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Apache had a net margin of 0.54% and a return on equity of 7.62%. Apache’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, sell-side analysts forecast that Apache will post 0.78 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Apache by 17.1% during the third quarter. FMR LLC now owns 1,050,091 shares of the energy company’s stock worth $50,058,000 after purchasing an additional 153,050 shares during the last quarter. United Services Automobile Association raised its holdings in shares of Apache by 1.2% during the 3rd quarter. United Services Automobile Association now owns 202,983 shares of the energy company’s stock valued at $9,676,000 after buying an additional 2,367 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apache by 176.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,673 shares of the energy company’s stock valued at $888,000 after buying an additional 11,925 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Apache by 69.3% during the 3rd quarter. Riverhead Capital Management LLC now owns 26,698 shares of the energy company’s stock valued at $1,273,000 after buying an additional 10,932 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Apache in the 3rd quarter worth approximately $593,000. Institutional investors and hedge funds own 99.80% of the company’s stock.

Apache Company Profile

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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