Apache Co. (NYSE:APA)’s share price was up 5.8% during trading on Monday . The company traded as high as $23.71 and last traded at $23.65, approximately 6,060,509 shares traded hands during trading. An increase of 31% from the average daily volume of 4,632,958 shares. The stock had previously closed at $22.35.
Several brokerages have weighed in on APA. Citigroup dropped their price objective on Apache from $35.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, August 26th. Morgan Stanley reduced their target price on Apache from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus set a $29.00 price target on Apache and gave the stock a “hold” rating in a research report on Monday, August 12th. Bank of America dropped their price target on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Finally, Wolfe Research raised shares of Apache from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 3rd. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $35.61.
The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $8.94 billion, a P/E ratio of 13.55, a P/E/G ratio of 16.49 and a beta of 1.84. The firm has a 50-day moving average of $22.32 and a two-hundred day moving average of $28.85.
Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. On average, sell-side analysts anticipate that Apache Co. will post 0.24 EPS for the current fiscal year.
In related news, Director John E. Lowe purchased 5,000 shares of Apache stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $21.83 per share, for a total transaction of $109,150.00. Following the purchase, the director now owns 30,000 shares in the company, valued at approximately $654,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in APA. Nuveen Asset Management LLC lifted its stake in shares of Apache by 14,558.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,450,931 shares of the energy company’s stock valued at $42,033,000 after acquiring an additional 1,441,033 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Apache by 90.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,442,575 shares of the energy company’s stock worth $70,761,000 after purchasing an additional 1,161,627 shares in the last quarter. Vanguard Group Inc. raised its position in Apache by 1.7% in the second quarter. Vanguard Group Inc. now owns 42,493,393 shares of the energy company’s stock valued at $1,231,034,000 after purchasing an additional 720,427 shares during the last quarter. Holocene Advisors LP raised its position in Apache by 231.2% in the second quarter. Holocene Advisors LP now owns 1,000,664 shares of the energy company’s stock valued at $28,989,000 after purchasing an additional 698,548 shares during the last quarter. Finally, Packer & Co Ltd bought a new stake in shares of Apache during the second quarter worth about $18,280,000. Institutional investors own 95.30% of the company’s stock.
Apache Company Profile (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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