Apache Co. (NYSE:APA) – Equities research analysts at Jefferies Financial Group lifted their Q1 2019 earnings estimates for shares of Apache in a report released on Monday, October 15th, according to Zacks Investment Research. Jefferies Financial Group analyst M. Lear now anticipates that the energy company will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.54. Jefferies Financial Group also issued estimates for Apache’s Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.43 EPS, FY2019 earnings at $1.82 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.48 EPS and FY2020 earnings at $1.90 EPS.
APA has been the subject of several other research reports. Piper Jaffray Companies lowered shares of Apache from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Mizuho began coverage on shares of Apache in a report on Monday, July 23rd. They set a “neutral” rating and a $55.00 price target for the company. BMO Capital Markets restated a “hold” rating and set a $40.00 price target on shares of Apache in a report on Monday, November 5th. ValuEngine upgraded shares of Apache from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, TheStreet upgraded shares of Apache from a “c” rating to a “b-” rating in a report on Wednesday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $47.37.
Apache (NYSE:APA) last posted its earnings results on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.47 by $0.16. Apache had a net margin of 12.11% and a return on equity of 7.71%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $0.04 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in the business. Boston Common Asset Management LLC boosted its holdings in Apache by 3.9% during the 2nd quarter. Boston Common Asset Management LLC now owns 29,547 shares of the energy company’s stock worth $1,381,000 after acquiring an additional 1,120 shares during the last quarter. Butensky & Cohen Financial Security Inc. boosted its holdings in Apache by 4.5% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 26,455 shares of the energy company’s stock worth $1,237,000 after acquiring an additional 1,150 shares during the last quarter. World Asset Management Inc boosted its holdings in Apache by 4.6% during the 2nd quarter. World Asset Management Inc now owns 26,245 shares of the energy company’s stock worth $1,227,000 after acquiring an additional 1,154 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its holdings in Apache by 4.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 25,509 shares of the energy company’s stock worth $1,193,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Donald L. Hagan LLC boosted its holdings in Apache by 4.0% during the 2nd quarter. Donald L. Hagan LLC now owns 32,083 shares of the energy company’s stock worth $1,500,000 after acquiring an additional 1,227 shares during the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.
In other Apache news, VP Dominic Ricotta sold 3,480 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $43.72, for a total transaction of $152,145.60. Following the completion of the sale, the vice president now owns 10,357 shares in the company, valued at approximately $452,808.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen J. Riney purchased 6,300 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were acquired at an average price of $43.51 per share, with a total value of $274,113.00. Following the purchase, the insider now directly owns 42,184 shares in the company, valued at approximately $1,835,425.84. The disclosure for this purchase can be found here. Insiders own 0.59% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.70%. Apache’s dividend payout ratio is currently 416.67%.
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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