Zacks: Brokerages Anticipate Apache Co. (APA) Will Post Quarterly Sales of $2.12 Billion

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Analysts expect Apache Co. (NYSE:APA) to report $2.12 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Apache’s earnings, with estimates ranging from $1.97 billion to $2.26 billion. Apache posted sales of $1.59 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The business is scheduled to report its next quarterly earnings results on Thursday, February 28th.

On average, analysts expect that Apache will report full year sales of $7.73 billion for the current year, with estimates ranging from $7.53 billion to $7.93 billion. For the next year, analysts anticipate that the company will post sales of $8.44 billion, with estimates ranging from $7.79 billion to $9.69 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Apache.

Apache (NYSE:APA) last released its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.63 EPS for the quarter, beating the 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 company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm posted $0.04 earnings per share. Apache’s revenue was up 25.9% compared to the same quarter last year.

A number of research analysts have weighed in on the company. Piper Jaffray Companies set a $57.00 target price on Apache and gave the company a “hold” rating in a report on Friday. Jefferies Financial Group lowered their target price on Apache to $31.00 and set an “underperform” rating on the stock in a report on Thursday. BMO Capital Markets reissued a “hold” rating and issued a $37.00 target price on shares of Apache in a report on Tuesday, November 13th. Macquarie raised Apache from an “underperform” rating to a “neutral” rating and set a $37.00 target price on the stock in a report on Friday, November 2nd. They noted that the move was a valuation call. Finally, Stephens set a $55.00 target price on Apache and gave the company a “buy” rating in a report on Thursday, November 1st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $47.65.

In other news, VP Dominic Ricotta sold 3,480 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $43.72, for a total value of $152,145.60. Following the transaction, the vice president now owns 10,357 shares of the company’s stock, valued at $452,808.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen J. Riney acquired 6,300 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was bought at an average cost of $43.51 per share, for a total transaction of $274,113.00. Following the purchase, the insider now directly owns 42,184 shares of the company’s stock, valued at $1,835,425.84. The disclosure for this purchase can be found here. 0.59% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Common Asset Management LLC grew its position in shares of Apache by 3.9% during the second quarter. Boston Common Asset Management LLC now owns 29,547 shares of the energy company’s stock worth $1,381,000 after purchasing an additional 1,120 shares in the last quarter. World Asset Management Inc grew its position in shares of Apache by 4.6% during the second quarter. World Asset Management Inc now owns 26,245 shares of the energy company’s stock worth $1,227,000 after purchasing an additional 1,154 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in shares of Apache by 4.9% during the second quarter. Guinness Atkinson Asset Management Inc now owns 25,509 shares of the energy company’s stock worth $1,193,000 after purchasing an additional 1,200 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Apache by 3.0% during the second quarter. Xact Kapitalforvaltning AB now owns 42,193 shares of the energy company’s stock worth $1,973,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Regentatlantic Capital LLC grew its position in shares of Apache by 6.5% during the second quarter. Regentatlantic Capital LLC now owns 21,231 shares of the energy company’s stock worth $993,000 after purchasing an additional 1,294 shares in the last quarter. 97.32% of the stock is currently owned by hedge funds and other institutional investors.

APA stock opened at $37.43 on Friday. Apache has a fifty-two week low of $33.60 and a fifty-two week high of $50.03. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.67 and a beta of 1.35.

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. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio (DPR) is currently 416.67%.

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

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