Royal Bank of Canada reissued their hold rating on shares of Apache (NYSE:APA) in a research note released on Monday. Royal Bank of Canada currently has a $39.00 price target on the energy company’s stock.
Other analysts have also issued research reports about the stock. BMO Capital Markets restated a hold rating and set a $37.00 price target on shares of Apache in a research report on Tuesday, November 13th. Jefferies Financial Group dropped their target price on shares of Apache to $31.00 and set an underperform rating on the stock in a research report on Thursday, November 15th. Morgan Stanley dropped their target price on shares of Apache from $43.00 to $35.00 and set a sell rating on the stock in a research report on Tuesday, November 20th. Zacks Investment Research upgraded shares of Apache from a hold rating to a buy rating and set a $50.00 target price on the stock in a research report on Tuesday, October 16th. Finally, Edward Jones lowered shares of Apache from a buy rating to a hold rating in a research report on Tuesday, September 18th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $43.64.
APA stock opened at $30.55 on Monday. The firm has a market cap of $11.71 billion, a P/E ratio of 127.27, a PEG ratio of 3.77 and a beta of 1.53. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.90. Apache has a one year low of $24.56 and a one year high of $50.03.
Apache (NYSE:APA) last released its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.89 billion. Apache had a net margin of 12.11% and a return on equity of 7.71%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. Research analysts predict that Apache will post 1.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Tuesday, January 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Friday, January 18th. Apache’s dividend payout ratio is currently 416.67%.
Several large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in Apache during the second quarter worth about $366,000. Field & Main Bank purchased a new position in Apache during the third quarter worth about $120,000. Achmea Investment Management B.V. purchased a new position in Apache during the third quarter worth about $652,000. Argent Trust Co raised its stake in Apache by 365.5% during the second quarter. Argent Trust Co now owns 33,934 shares of the energy company’s stock worth $1,586,000 after purchasing an additional 26,644 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Apache by 2.5% during the third quarter. Russell Investments Group Ltd. now owns 361,327 shares of the energy company’s stock worth $17,142,000 after purchasing an additional 8,837 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.
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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