Wall Street brokerages expect Apache Corporation (NYSE:APA) to post $1.43 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Apache Corporation’s earnings, with the highest sales estimate coming in at $1.58 billion and the lowest estimate coming in at $1.26 billion. Apache Corporation reported sales of $1.38 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The company is scheduled to report its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Apache Corporation will report full-year sales of $1.43 billion for the current financial year, with estimates ranging from $5.94 billion to $7.39 billion. For the next fiscal year, analysts expect that the business will post sales of $7.13 billion per share, with estimates ranging from $5.11 billion to $8.59 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Apache Corporation.
Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, May 4th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.49 billion. Apache Corporation had a negative return on equity of 1.27% and a negative net margin of 13.34%. During the same period in the prior year, the company posted ($0.40) earnings per share.
Several research firms have commented on APA. Stifel Nicolaus began coverage on shares of Apache Corporation in a report on Friday, April 7th. They issued a “hold” rating and a $54.00 price objective on the stock. Barclays PLC cut shares of Apache Corporation from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $56.00 to $50.00 in a research report on Thursday, March 2nd. Bank of America Corporation cut shares of Apache Corporation to an “underperform” rating in a research report on Tuesday, February 28th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Apache Corporation in a research report on Monday, May 15th. Finally, Scotiabank reissued a “hold” rating and issued a $58.00 target price on shares of Apache Corporation in a research report on Monday, May 15th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.95.
Apache Corporation (NYSE:APA) traded up 2.03% during mid-day trading on Wednesday, hitting $47.15. 1,268,264 shares of the company traded hands. Apache Corporation has a one year low of $45.95 and a one year high of $69.00. The stock’s market capitalization is $17.94 billion. The company’s 50-day moving average is $48.96 and its 200-day moving average is $54.96.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, July 19th. Apache Corporation’s dividend payout ratio (DPR) is presently -46.08%.
In related news, Director Rene R. Joyce acquired 10,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $513,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. First Manhattan Co. raised its stake in shares of Apache Corporation by 0.5% in the first quarter. First Manhattan Co. now owns 11,848 shares of the energy company’s stock valued at $756,000 after buying an additional 55 shares in the last quarter. Albert D Mason Inc. raised its stake in shares of Apache Corporation by 0.6% in the first quarter. Albert D Mason Inc. now owns 8,735 shares of the energy company’s stock valued at $449,000 after buying an additional 55 shares in the last quarter. Cleararc Capital Inc. raised its stake in shares of Apache Corporation by 0.7% in the first quarter. Cleararc Capital Inc. now owns 9,292 shares of the energy company’s stock valued at $478,000 after buying an additional 67 shares in the last quarter. Dowling & Yahnke LLC raised its stake in shares of Apache Corporation by 0.9% in the first quarter. Dowling & Yahnke LLC now owns 8,503 shares of the energy company’s stock valued at $437,000 after buying an additional 75 shares in the last quarter. Finally, Regentatlantic Capital LLC raised its stake in shares of Apache Corporation by 0.4% in the first quarter. Regentatlantic Capital LLC now owns 22,523 shares of the energy company’s stock valued at $1,157,000 after buying an additional 83 shares in the last quarter. 94.06% of the stock is owned by hedge funds and other institutional investors.
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. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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