Apache’s (APA) Neutral Rating Reiterated at Citigroup

Citigroup reissued their neutral rating on shares of Apache (NYSE:APA) in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have a $42.00 target price on the energy company’s stock, down from their previous target price of $44.00.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus reissued a hold rating and issued a $49.00 price target on shares of Apache in a report on Thursday, August 30th. TheStreet raised shares of Apache from a c rating to a b- rating in a report on Wednesday, August 1st. ValuEngine raised shares of Apache from a sell rating to a hold rating in a report on Friday, August 24th. Mizuho assumed coverage on shares of Apache in a report on Monday, July 23rd. They issued a neutral rating and a $55.00 price target on the stock. Finally, BMO Capital Markets reissued a hold rating and issued a $37.00 price target on shares of Apache in a report on Tuesday, November 13th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $47.35.

Shares of Apache stock opened at $36.03 on Tuesday. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 150.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.35. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.10 and a current ratio of 1.26. Apache has a 52-week low of $33.60 and a 52-week high of $50.03.

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, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.89 billion. Apache had a net margin of 12.11% and a return on equity of 7.71%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. Analysts expect that Apache will post 1.98 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Monday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Friday, October 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.78%. Apache’s dividend payout ratio is presently 416.67%.

In other news, insider Stephen J. Riney bought 6,300 shares of Apache stock in a transaction dated Monday, August 27th. The shares were bought at an average price of $43.51 per share, for a total transaction of $274,113.00. Following the purchase, the insider now owns 42,184 shares of the company’s stock, valued at $1,835,425.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John J. Christmann bought 3,900 shares of Apache stock in a transaction dated Monday, August 27th. The stock was purchased at an average price of $43.63 per share, for a total transaction of $170,157.00. Following the purchase, the chief executive officer now directly owns 150,696 shares in the company, valued at approximately $6,574,866.48. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation acquired a new position in Apache during the 3rd quarter worth about $103,000. Steward Partners Investment Advisory LLC lifted its position in Apache by 575.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock worth $104,000 after buying an additional 1,892 shares in the last quarter. Field & Main Bank acquired a new position in Apache during the 3rd quarter worth about $120,000. Dorsey & Whitney Trust CO LLC acquired a new position in Apache during the 3rd quarter worth about $205,000. Finally, Wesbanco Bank Inc. acquired a new position in Apache during the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 96.83% of the company’s stock.

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.

Read More: What are the components of an earnings report?

Analyst Recommendations for Apache (NYSE:APA)

Receive News & Ratings for Apache Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply