Apache (NYSE:APA) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Apache (NYSE:APA) from an underweight rating to an equal weight rating in a research note released on Monday, BenzingaRatingsTable reports. Morgan Stanley currently has $31.00 price objective on the energy company’s stock, up from their prior price objective of $18.00.

Other equities analysts have also issued research reports about the company. Citigroup raised their price objective on Apache from $22.00 to $27.00 and gave the stock a neutral rating in a research note on Monday, September 23rd. ValuEngine upgraded Apache from a sell rating to a hold rating in a research note on Wednesday, October 2nd. MKM Partners began coverage on Apache in a research note on Monday, September 16th. They set a neutral rating and a $26.00 price objective on the stock. SunTrust Banks began coverage on Apache in a research note on Monday, September 23rd. They set a buy rating and a $32.00 price objective on the stock. Finally, Raymond James lowered their price objective on Apache from $32.00 to $25.00 and set an outperform rating on the stock in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $31.07.

NYSE:APA opened at $33.10 on Monday. The stock has a market cap of $12.61 billion, a P/E ratio of 18.70 and a beta of 1.95. The stock has a 50 day simple moving average of $24.95 and a 200 day simple moving average of $23.92. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.07. Apache has a 1-year low of $18.33 and a 1-year high of $38.12.

Apache (NYSE:APA) last released its quarterly earnings results on Wednesday, October 30th. The energy company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.10). Apache had a positive return on equity of 1.08% and a negative net margin of 14.78%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $0.63 earnings per share. As a group, sell-side analysts forecast that Apache will post -0.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $1.00 annualized dividend and a dividend yield of 3.02%. Apache’s payout ratio is 56.50%.

In other Apache news, insider Wheals Rob purchased 4,505 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $11.06 per share, for a total transaction of $49,825.30. Company insiders own 0.69% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of APA. Evoke Wealth LLC bought a new position in shares of Apache in the 3rd quarter valued at $32,000. Bartlett & Co. LLC grew its position in Apache by 56.2% during the 3rd quarter. Bartlett & Co. LLC now owns 1,390 shares of the energy company’s stock worth $36,000 after acquiring an additional 500 shares during the last quarter. Private Capital Group LLC bought a new stake in Apache during the 2nd quarter worth $37,000. Parallel Advisors LLC grew its position in Apache by 83.2% during the 3rd quarter. Parallel Advisors LLC now owns 1,773 shares of the energy company’s stock worth $45,000 after acquiring an additional 805 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its position in Apache by 152.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,909 shares of the energy company’s stock worth $56,000 after acquiring an additional 1,154 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

About Apache

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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