Seaport Global Securities Research Analysts Raise Earnings Estimates for Apache Co. (NYSE:APA)

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Apache Co. (NYSE:APA) – Analysts at Seaport Global Securities increased their Q3 2018 EPS estimates for shares of Apache in a research note issued on Wednesday, October 17th, Zacks Investment Research reports. Seaport Global Securities analyst J. Aschenbeck now expects that the energy company will earn $0.48 per share for the quarter, up from their prior estimate of $0.32. Seaport Global Securities also issued estimates for Apache’s Q4 2018 earnings at $0.56 EPS, FY2018 earnings at $1.86 EPS, Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.90 EPS.

Apache (NYSE:APA) last announced its earnings results on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Apache had a return on equity of 7.71% and a net margin of 12.11%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the business posted $0.04 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis.

Other analysts have also recently issued reports about the company. TheStreet upgraded Apache from a “c” rating to a “b-” rating in a report on Wednesday, August 1st. KLR Group restated a “buy” rating and set a $54.00 price target on shares of Apache in a report on Monday, August 20th. Stephens set a $55.00 price target on Apache and gave the stock a “buy” rating in a report on Monday, September 24th. Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, September 27th. Finally, Raymond James restated a “buy” rating and set a $65.00 price target on shares of Apache in a report on Thursday, November 1st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.37.

APA stock traded up $1.06 during trading on Friday, hitting $37.08. The company had a trading volume of 7,827,095 shares, compared to its average volume of 4,187,037. Apache has a one year low of $33.60 and a one year high of $50.03. The stock has a market capitalization of $14.35 billion, a PE ratio of 154.50, a PEG ratio of 2.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.26 and a quick ratio of 1.10.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, October 19th. Apache’s payout ratio is 416.67%.

In other news, insider Stephen J. Riney bought 6,300 shares of the stock in a transaction dated Monday, August 27th. The shares were bought at an average cost of $43.51 per share, with a total value of $274,113.00. Following the completion of the transaction, the insider now directly owns 42,184 shares of the company’s stock, valued at $1,835,425.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rebecca A. Hoyt sold 6,111 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The stock was 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 in the company, valued at $1,450,419.04. The disclosure for this sale can be found here. 0.59% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Zions Bancorporation purchased a new stake in Apache in the 3rd quarter valued at $103,000. Steward Partners Investment Advisory LLC raised its position in Apache by 575.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock valued at $104,000 after buying an additional 1,892 shares during the last quarter. Field & Main Bank purchased a new stake in Apache in the 3rd quarter valued at $120,000. Dorsey & Whitney Trust CO LLC purchased a new stake in Apache in the 3rd quarter valued at $205,000. Finally, Wesbanco Bank Inc. purchased a new stake in Apache in the 2nd quarter valued at $207,000. 96.62% of the stock is owned by institutional investors and hedge funds.

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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