Mitsubishi UFJ Financial Group Weighs in on Apache Co.’s FY2018 Earnings (APA)

Apache Co. (NYSE:APA) – Mitsubishi UFJ Financial Group upped their FY2018 earnings per share (EPS) estimates for shares of Apache in a research note issued on Monday, November 5th. Mitsubishi UFJ Financial Group analyst M. Mcallister now expects that the energy company will post earnings per share of $2.01 for the year, up from their previous forecast of $1.65. Mitsubishi UFJ Financial Group currently has a “Overweight” rating and a $66.00 target price on the stock. Mitsubishi UFJ Financial Group also issued estimates for Apache’s Q4 2018 earnings at $0.50 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.65 EPS, FY2019 earnings at $2.45 EPS, Q1 2020 earnings at $0.56 EPS, Q2 2020 earnings at $0.54 EPS and FY2020 earnings at $2.02 EPS.

Apache (NYSE:APA) last announced its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis.

A number of other analysts also recently commented on the company. BMO Capital Markets reissued a “hold” rating and issued a $40.00 price objective on shares of Apache in a research note on Monday. Macquarie raised Apache from an “underperform” rating to a “neutral” rating and set a $37.00 price objective on the stock in a research note on Friday, November 2nd. They noted that the move was a valuation call. Stephens set a $55.00 price objective on Apache and gave the stock a “buy” rating in a research note on Thursday, November 1st. Cowen set a $48.00 price objective on Apache and gave the stock a “hold” rating in a research note on Thursday, July 19th. Finally, Stifel Nicolaus set a $53.00 price objective on Apache and gave the stock a “hold” rating in a research note on Thursday, November 1st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. Apache presently has a consensus rating of “Hold” and a consensus price target of $47.37.

Shares of APA stock opened at $36.02 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.90. Apache has a 1 year low of $33.60 and a 1 year high of $50.03. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 150.08, a price-to-earnings-growth ratio of 2.69 and a beta of 1.35.

The business 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 2.78%. The ex-dividend date is Friday, October 19th. Apache’s dividend payout ratio (DPR) is presently 416.67%.

In related news, insider Stephen J. Riney bought 6,300 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rebecca A. Hoyt sold 6,111 shares of the business’s stock in a transaction 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 sale, 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 insiders.

Institutional investors have recently made changes to their positions in the company. Zions Bancorporation acquired a new stake in shares of Apache during the third quarter worth $103,000. Steward Partners Investment Advisory LLC raised its position in shares of Apache by 575.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock worth $104,000 after purchasing an additional 1,892 shares during the period. Field & Main Bank acquired a new stake in shares of Apache during the third quarter worth $120,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Apache during the third quarter worth $205,000. Finally, Wesbanco Bank Inc. acquired a new stake in shares of Apache during the second quarter worth $207,000. 96.62% of the stock is currently owned by institutional investors.

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.

Further Reading: Asset Allocation, Balancing Your Investments

Earnings History and Estimates for Apache (NYSE:APA)

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