BMO Capital Markets Reiterates “Hold” Rating for Apache Co. (NYSE:APA)

BMO Capital Markets reiterated their hold rating on shares of Apache Co. (NYSE:APA) in a research note published on Tuesday, November 7th. BMO Capital Markets currently has a $42.00 price objective on the energy company’s stock.

APA has been the topic of several other research reports. Scotiabank reaffirmed a hold rating and set a $49.00 price objective on shares of Apache in a report on Tuesday, October 10th. Royal Bank Of Canada reissued a hold rating and set a $55.00 price target on shares of Apache in a report on Thursday, July 20th. Sanford C. Bernstein reissued an outperform rating on shares of Apache in a report on Thursday, September 21st. Citigroup Inc. lowered their price target on Apache from $50.00 to $45.00 and set a neutral rating on the stock in a report on Tuesday, August 15th. Finally, BidaskClub lowered Apache from a sell rating to a strong sell rating in a report on Thursday, August 17th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $48.06.

Apache (APA) traded down $0.41 during trading on Tuesday, reaching $41.14. The company’s stock had a trading volume of 1,100,000 shares, compared to its average volume of 2,806,271. Apache has a one year low of $38.14 and a one year high of $69.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 1.53.

Apache (NYSE:APA) last posted its quarterly earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.09. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Apache had a negative return on equity of 0.70% and a net margin of 10.60%. Apache’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. analysts anticipate that Apache will post 0.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. Apache’s dividend payout ratio is currently 57.47%.

Several institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC grew its stake in Apache by 658.0% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,427,314 shares of the energy company’s stock worth $355,991,000 after acquiring an additional 6,447,400 shares during the period. Baillie Gifford & Co. grew its stake in Apache by 58.0% in the 2nd quarter. Baillie Gifford & Co. now owns 12,429,930 shares of the energy company’s stock worth $595,767,000 after acquiring an additional 4,561,430 shares during the period. Harris Associates L P grew its stake in Apache by 14.3% in the 2nd quarter. Harris Associates L P now owns 18,741,407 shares of the energy company’s stock worth $898,275,000 after acquiring an additional 2,343,985 shares during the period. Point72 Asset Management L.P. purchased a new stake in Apache in the 3rd quarter worth approximately $93,596,000. Finally, Orbis Allan Gray Ltd grew its stake in Apache by 11.5% in the 2nd quarter. Orbis Allan Gray Ltd now owns 13,381,672 shares of the energy company’s stock worth $641,384,000 after acquiring an additional 1,381,096 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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Apache Company Profile

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

Analyst Recommendations for Apache (NYSE:APA)

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