Capital One Financial Analysts Increase Earnings Estimates for Apache Co. (NYSE:APA)

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Apache Co. (NYSE:APA) – Investment analysts at Capital One Financial lifted their FY2018 earnings estimates for shares of Apache in a research note issued to investors on Tuesday, September 18th, Zacks Investment Research reports. Capital One Financial analyst R. Tullis now anticipates that the energy company will earn $1.60 per share for the year, up from their prior forecast of $1.58. Capital One Financial also issued estimates for Apache’s Q4 2018 earnings at $0.40 EPS.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, July 12th. Morgan Stanley cut their target price on shares of Apache from $42.00 to $41.00 and set a “sell” rating for the company in a research note on Tuesday, September 4th. Stifel Nicolaus raised their target price on shares of Apache from $46.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 9th. Mitsubishi UFJ Financial Group raised their target price on shares of Apache to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. Finally, Edward Jones downgraded shares of Apache from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $46.83.

NYSE:APA traded up $0.50 during mid-day trading on Thursday, hitting $45.13. The stock had a trading volume of 4,140,083 shares, compared to its average volume of 4,058,946. Apache has a twelve month low of $33.60 and a twelve month high of $50.03. The company has a market capitalization of $18.23 billion, a P/E ratio of 188.04, a price-to-earnings-growth ratio of 6.15 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.36.

Apache (NYSE:APA) last posted its quarterly earnings data on Wednesday, August 1st. The energy company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.11. Apache had a net margin of 12.57% and a return on equity of 5.21%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.76 billion.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Apache by 97.5% during the third quarter. Bank of Montreal Can now owns 179,143 shares of the energy company’s stock worth $8,540,000 after purchasing an additional 88,445 shares during the period. DNB Asset Management AS increased its holdings in shares of Apache by 7.0% during the third quarter. DNB Asset Management AS now owns 51,716 shares of the energy company’s stock worth $2,465,000 after purchasing an additional 3,400 shares during the period. Ipswich Investment Management Co. Inc. increased its holdings in shares of Apache by 398.9% during the third quarter. Ipswich Investment Management Co. Inc. now owns 59,025 shares of the energy company’s stock worth $2,814,000 after purchasing an additional 47,195 shares during the period. Douglas Lane & Associates LLC increased its holdings in shares of Apache by 29.0% during the third quarter. Douglas Lane & Associates LLC now owns 174,116 shares of the energy company’s stock worth $8,300,000 after purchasing an additional 39,116 shares during the period. Finally, Covenant Multifamily Offices LLC increased its holdings in shares of Apache by 24.4% during the third quarter. Covenant Multifamily Offices LLC now owns 46,755 shares of the energy company’s stock worth $2,229,000 after purchasing an additional 9,185 shares during the period. 96.74% of the stock is currently owned by institutional investors.

In other Apache news, insider Rebecca A. Hoyt sold 6,111 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $47.48, for a total value of $290,150.28. Following the transaction, the insider now directly owns 30,548 shares of the company’s stock, valued at approximately $1,450,419.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John J. Christmann purchased 3,900 shares of the stock in a transaction on Monday, August 27th. The stock was bought at an average cost of $43.63 per share, for a total transaction of $170,157.00. Following the completion of the acquisition, the chief executive officer now owns 150,696 shares in the company, valued at $6,574,866.48. The disclosure for this purchase can be found here. 0.59% of the stock is owned by corporate insiders.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, October 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 2.22%. Apache’s dividend payout ratio is currently 416.67%.

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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