Apache Corporation Sees Unusually High Options Volume (NYSE:APA)

Apache Corporation (NYSE:APA) saw some unusual options trading activity on Friday. Investors purchased 1,516 call options on the stock. This is an increase of 470% compared to the typical volume of 266 call options.

Shares of Apache Corporation (NYSE:APA) opened at 42.76 on Wednesday. The firm’s market capitalization is $16.29 billion. The company’s 50-day moving average is $42.51 and its 200 day moving average is $46.57. Apache Corporation has a 1-year low of $38.14 and a 1-year high of $69.00.

Apache Corporation (NYSE:APA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business posted ($0.26) earnings per share. Apache Corporation’s revenue was up .1% on a year-over-year basis. On average, analysts expect that Apache Corporation will post $0.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, October 20th. Apache Corporation’s dividend payout ratio (DPR) is presently -4,997.50%.

A number of brokerages have commented on APA. Barclays PLC cut their target price on shares of Apache Corporation from $30.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 11th. BMO Capital Markets set a $45.00 price objective on shares of Apache Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. Scotiabank reaffirmed a “hold” rating and set a $49.00 price objective on shares of Apache Corporation in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Apache Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Jefferies Group LLC reaffirmed an “underperform” rating and set a $38.00 price objective on shares of Apache Corporation in a research report on Tuesday, October 10th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $49.06.

In other Apache Corporation news, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $40.32 per share, with a total value of $80,640.00. Following the transaction, the director now owns 12,000 shares in the company, valued at $483,840. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George D. Lawrence acquired 900 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $42.49 per share, for a total transaction of $38,241.00. Following the acquisition, the director now directly owns 38,445 shares in the company, valued at $1,633,528.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,500 shares of company stock valued at $235,094. 0.48% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Griffin Asset Management Inc. bought a new position in Apache Corporation during the 2nd quarter valued at $211,000. Gs Investments Inc. bought a new position in Apache Corporation during the 2nd quarter valued at $149,000. Sentry Investment Management LLC lifted its stake in Apache Corporation by 214.4% during the 2nd quarter. Sentry Investment Management LLC now owns 92,158 shares of the energy company’s stock valued at $4,417,000 after acquiring an additional 62,841 shares in the last quarter. Toronto Dominion Bank lifted its stake in Apache Corporation by 25.8% during the 2nd quarter. Toronto Dominion Bank now owns 128,867 shares of the energy company’s stock valued at $6,176,000 after acquiring an additional 26,409 shares in the last quarter. Finally, National Asset Management Inc. lifted its stake in Apache Corporation by 47.7% during the 2nd quarter. National Asset Management Inc. now owns 27,562 shares of the energy company’s stock valued at $1,322,000 after acquiring an additional 8,901 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

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Apache Corporation 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.

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