Brokers Set Expectations for Apache Co.’s FY2021 Earnings (APA)

Apache Co. (NYSE:APA) – Equities research analysts at Jefferies Financial Group issued their FY2021 earnings per share (EPS) estimates for shares of Apache in a note issued to investors on Friday, May 17th. Jefferies Financial Group analyst M. Lear expects that the energy company will earn $0.81 per share for the year.

Apache (NYSE:APA) last announced its earnings results on Wednesday, May 1st. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Apache had a negative net margin of 2.08% and a positive return on equity of 6.71%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis.

Several other analysts have also issued reports on APA. Zacks Investment Research upgraded shares of Apache from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday. Raymond James set a $44.00 price objective on shares of Apache and gave the company a “buy” rating in a report on Wednesday, January 23rd. Citigroup boosted their price objective on shares of Apache from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. ValuEngine upgraded shares of Apache from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 30th. Finally, Seaport Global Securities restated a “hold” rating on shares of Apache in a report on Wednesday, January 30th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $41.55.

Shares of APA opened at $29.93 on Monday. Apache has a 52-week low of $24.56 and a 52-week high of $50.03. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 1.05. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 4.62 and a beta of 1.72.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Apache by 7.2% during the fourth quarter. BlackRock Inc. now owns 27,130,392 shares of the energy company’s stock worth $712,173,000 after buying an additional 1,828,617 shares in the last quarter. Harris Associates L P grew its position in shares of Apache by 5.8% during the fourth quarter. Harris Associates L P now owns 19,644,841 shares of the energy company’s stock worth $515,678,000 after buying an additional 1,075,776 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Apache by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,625,402 shares of the energy company’s stock valued at $194,999,000 after purchasing an additional 134,194 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Apache by 5.6% in the first quarter. Geode Capital Management LLC now owns 5,141,462 shares of the energy company’s stock valued at $177,884,000 after purchasing an additional 274,723 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Apache by 3.8% in the fourth quarter. Northern Trust Corp now owns 4,852,843 shares of the energy company’s stock valued at $127,387,000 after purchasing an additional 176,822 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

In related news, Director John E. Lowe acquired 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $30.25 per share, with a total value of $151,250.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $756,250. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.69% of the stock is owned by corporate insiders.

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

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Earnings History and Estimates for Apache (NYSE:APA)

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