$1.60 Billion in Sales Expected for Apache Co. (NYSE:APA) This Quarter

Analysts expect that Apache Co. (NYSE:APA) will announce sales of $1.60 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Apache’s earnings, with estimates ranging from $1.50 billion to $1.75 billion. Apache posted sales of $1.98 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 19.2%. The company is scheduled to issue its next earnings results on Wednesday, October 30th.

On average, analysts expect that Apache will report full-year sales of $6.60 billion for the current fiscal year, with estimates ranging from $6.39 billion to $7.02 billion. For the next financial year, analysts forecast that the company will report sales of $7.37 billion, with estimates ranging from $6.57 billion to $10.41 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Apache.

Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Apache had a positive return on equity of 5.03% and a negative net margin of 10.12%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion.

A number of research firms have weighed in on APA. ValuEngine raised Apache from a “strong sell” rating to a “sell” rating in a research report on Thursday. Morgan Stanley cut their target price on Apache from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Wolfe Research raised Apache from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 3rd. Bank of America cut their target price on Apache from $30.00 to $29.00 and set an “underperform” rating for the company in a research note on Thursday. Finally, Zacks Investment Research raised Apache from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, May 20th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. Apache presently has an average rating of “Hold” and an average target price of $39.50.

In related news, EVP William Mark Meyer purchased 2,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was bought at an average price of $25.92 per share, with a total value of $51,840.00. Following the completion of the transaction, the executive vice president now owns 2,919 shares of the company’s stock, valued at approximately $75,660.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juliet S. Ellis purchased 3,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $27.26 per share, with a total value of $95,410.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $95,410. The disclosure for this purchase can be found here. Insiders have acquired 10,500 shares of company stock valued at $298,500 in the last three months. 0.69% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in APA. Norges Bank acquired a new stake in shares of Apache during the fourth quarter worth $103,822,000. Dimensional Fund Advisors LP boosted its holdings in shares of Apache by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,491,208 shares of the energy company’s stock worth $144,156,000 after purchasing an additional 945,212 shares during the last quarter. Packer & Co Ltd acquired a new stake in shares of Apache during the second quarter worth $18,280,000. State of Wisconsin Investment Board boosted its holdings in shares of Apache by 430.7% during the first quarter. State of Wisconsin Investment Board now owns 509,135 shares of the energy company’s stock worth $17,647,000 after purchasing an additional 413,193 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Apache by 28.0% during the first quarter. New York State Common Retirement Fund now owns 1,617,156 shares of the energy company’s stock worth $56,051,000 after purchasing an additional 353,550 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Apache stock traded up $0.07 during mid-day trading on Friday, reaching $24.19. 4,508,694 shares of the company were exchanged, compared to its average volume of 5,649,735. Apache has a twelve month low of $22.60 and a twelve month high of $50.03. The stock has a 50-day moving average price of $26.58. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 7.47 and a beta of 1.80.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.13%. The ex-dividend date is Friday, July 19th. Apache’s payout ratio is 56.50%.

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

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Earnings History and Estimates for Apache (NYSE:APA)

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