Seaport Global Securities Reiterates Hold Rating for Apache (NYSE:APA)

Apache (NYSE:APA)‘s stock had its “hold” rating reissued by investment analysts at Seaport Global Securities in a research note issued on Wednesday, January 30th. Seaport Global Securities also issued estimates for Apache’s Q1 2020 earnings at $0.31 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.36 EPS, Q4 2020 earnings at $0.41 EPS and FY2020 earnings at $1.38 EPS.

Other equities research analysts have also issued reports about the stock. Raymond James set a $44.00 target price on shares of Apache and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Jefferies Financial Group reduced their price objective on Apache to $31.00 and set an “underperform” rating for the company in a research note on Thursday, November 15th. BMO Capital Markets restated a “hold” rating and issued a $37.00 price objective on shares of Apache in a research note on Tuesday, November 13th. Morgan Stanley cut their price target on Apache from $43.00 to $35.00 and set a “sell” rating for the company in a research note on Tuesday, November 20th. Finally, Citigroup reiterated a “neutral” rating and issued a $42.00 price target (down previously from $44.00) on shares of Apache in a research note on Tuesday, November 20th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.35.

Shares of APA opened at $32.28 on Wednesday. The company has a market capitalization of $11.97 billion, a PE ratio of 134.50, a P/E/G ratio of 10.34 and a beta of 1.72. Apache has a 52 week low of $24.56 and a 52 week high of $50.03. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 0.90.

A number of hedge funds have recently modified their holdings of APA. BlackRock Inc. boosted its stake in Apache by 7.2% in the fourth quarter. BlackRock Inc. now owns 27,130,392 shares of the energy company’s stock valued at $712,173,000 after acquiring an additional 1,828,617 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Apache by 2,492.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,087,958 shares of the energy company’s stock valued at $41,000 after acquiring an additional 1,045,998 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Apache by 62.6% in the third 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in Apache by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock valued at $144,156,000 after acquiring an additional 945,212 shares in the last quarter. Finally, Manitou Investment Management Ltd. acquired a new stake in Apache in the third quarter valued at approximately $34,350,000. 95.45% of the stock is currently owned by institutional investors.

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 Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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