Apache (APA) Shares Down 6.2%

Apache Co. (NYSE:APA)’s share price dropped 6.2% during trading on Thursday . The stock traded as low as $27.49 and last traded at $27.66. Approximately 5,127,844 shares traded hands during trading, an increase of 19% from the average daily volume of 4,320,998 shares. The stock had previously closed at $29.49.

APA has been the subject of several recent research reports. Morgan Stanley set a $27.00 price objective on Apache and gave the company a “sell” rating in a research report on Tuesday, January 29th. Seaport Global Securities restated a “hold” rating on shares of Apache in a report on Wednesday, January 30th. ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 30th. Credit Suisse Group raised their price target on Apache from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 28th. Finally, Citigroup raised their price target on Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Apache has an average rating of “Hold” and a consensus target price of $41.55.

The firm has a market capitalization of $10.27 billion, a P/E ratio of 15.44, a PEG ratio of 4.63 and a beta of 1.72. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 0.94.

Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Apache had a positive return on equity of 6.71% and a negative net margin of 2.08%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.32 EPS. Apache’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts expect that Apache Co. will post 1.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.00 annualized dividend and a yield of 3.66%. Apache’s payout ratio is 56.50%.

In other Apache news, Director John E. Lowe acquired 5,000 shares of Apache stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $30.25 per share, for a total transaction of $151,250.00. Following the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $756,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in Apache by 1.3% in the first quarter. Strs Ohio now owns 324,296 shares of the energy company’s stock worth $11,240,000 after purchasing an additional 4,299 shares during the last quarter. South Dakota Investment Council boosted its position in Apache by 6.6% in the first quarter. South Dakota Investment Council now owns 598,755 shares of the energy company’s stock worth $20,753,000 after purchasing an additional 37,318 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Apache by 12.6% in the first quarter. Nisa Investment Advisors LLC now owns 73,012 shares of the energy company’s stock worth $2,531,000 after purchasing an additional 8,150 shares during the last quarter. Lantz Financial LLC purchased a new position in Apache in the first quarter worth about $243,000. Finally, Field & Main Bank purchased a new position in Apache in the first quarter worth about $149,000. Institutional investors own 98.72% of the company’s stock.

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About Apache (NYSE:APA)

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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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