Apache Co. (NYSE:APA) – Equities researchers at Piper Jaffray Companies dropped their FY2018 EPS estimates for shares of Apache in a note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now forecasts that the energy company will earn $1.85 per share for the year, down from their prior forecast of $2.07. Piper Jaffray Companies currently has a “Hold” rating and a $35.00 target price on the stock. Piper Jaffray Companies also issued estimates for Apache’s Q4 2018 earnings at $0.39 EPS, Q1 2019 earnings at ($0.27) EPS, Q2 2019 earnings at ($0.25) EPS, Q3 2019 earnings at ($0.18) EPS, Q4 2019 earnings at ($0.04) EPS, FY2019 earnings at ($0.75) EPS, Q1 2020 earnings at $0.08 EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at ($0.03) EPS, Q4 2020 earnings at $0.05 EPS and FY2020 earnings at $0.08 EPS.
APA has been the topic of a number of other research reports. BMO Capital Markets reiterated a “hold” rating and issued a $40.00 price target on shares of Apache in a research note on Monday, November 5th. Jefferies Financial Group cut their price objective on shares of Apache to $31.00 and set an “underperform” rating for the company in a report on Thursday, November 15th. Cowen began coverage on shares of Apache in a report on Thursday, November 29th. They issued a “market perform” rating for the company. Royal Bank of Canada reissued a “hold” rating and issued a $39.00 price objective on shares of Apache in a report on Monday, January 7th. Finally, Stephens set a $55.00 price objective on shares of Apache and gave the company a “buy” rating in a report on Monday, September 24th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.64.
Shares of APA opened at $31.10 on Friday. Apache has a 52 week low of $24.56 and a 52 week high of $50.03. The stock has a market capitalization of $11.71 billion, a P/E ratio of 129.58, a P/E/G 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 (NYSE:APA) last announced its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.16. Apache had a return on equity of 7.71% and a net margin of 12.11%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. Dodge & Cox lifted its holdings in shares of Apache by 1.1% during the 3rd quarter. Dodge & Cox now owns 39,601,676 shares of the energy company’s stock worth $1,887,812,000 after acquiring an additional 415,850 shares during the period. Northern Trust Corp increased its position in Apache by 2.4% in the 2nd quarter. Northern Trust Corp now owns 4,819,284 shares of the energy company’s stock valued at $225,301,000 after acquiring an additional 111,798 shares during the period. Dimensional Fund Advisors LP increased its position in Apache by 24.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,545,996 shares of the energy company’s stock valued at $216,696,000 after acquiring an additional 901,022 shares during the period. Clearbridge Investments LLC increased its position in Apache by 62.6% in the 3rd quarter. Clearbridge Investments LLC now owns 2,481,181 shares of the energy company’s stock valued at $118,278,000 after acquiring an additional 955,266 shares during the period. Finally, Legal & General Group Plc increased its position in Apache by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 1,805,545 shares of the energy company’s stock valued at $86,077,000 after acquiring an additional 46,829 shares during the period. 96.07% of the stock is owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Tuesday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Friday, January 18th. Apache’s dividend payout ratio (DPR) is presently 416.67%.
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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