Apache (NYSE:APA) Shares Gap Down to $20.08

Apache Co. (NYSE:APA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $19.01, but opened at $20.08. Apache shares last traded at $19.86, with a volume of 293,332 shares traded.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Monday, May 20th. Morgan Stanley reduced their price target on Apache from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, July 12th. Stifel Nicolaus set a $29.00 price target on Apache and gave the stock a “hold” rating in a report on Monday. Seaport Global Securities reiterated a “neutral” rating on shares of Apache in a report on Friday, June 21st. Finally, ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Apache currently has a consensus rating of “Hold” and a consensus target price of $37.26.

The company has a market cap of $8.11 billion, a P/E ratio of 11.26, a PEG ratio of 8.62 and a beta of 1.80. The business has a fifty day moving average price of $24.90 and a 200-day moving average price of $30.23. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 1.00.

Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Apache had a positive return on equity of 5.12% and a negative net margin of 10.12%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. As a group, research analysts expect that Apache Co. will post 0.38 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, July 19th. Apache’s dividend payout ratio is presently 56.50%.

In other Apache news, EVP William Mark Meyer purchased 2,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $25.92 per share, for a total transaction of $51,840.00. Following the completion of the transaction, the executive vice president now owns 2,919 shares in the company, valued at $75,660.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Juliet S. Ellis purchased 3,500 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $27.26 per share, with a total value of $95,410.00. Following the completion of the transaction, the director now owns 3,500 shares of the company’s stock, valued at approximately $95,410. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 10,500 shares of company stock valued at $256,400. Corporate insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Courier Capital LLC boosted its stake in shares of Apache by 3.1% during the first quarter. Courier Capital LLC now owns 10,060 shares of the energy company’s stock valued at $349,000 after acquiring an additional 300 shares during the last quarter. Securian Asset Management Inc raised its holdings in shares of Apache by 1.1% during the second quarter. Securian Asset Management Inc now owns 39,506 shares of the energy company’s stock valued at $1,144,000 after purchasing an additional 426 shares during the last quarter. Hoertkorn Richard Charles raised its holdings in shares of Apache by 0.6% during the first quarter. Hoertkorn Richard Charles now owns 80,340 shares of the energy company’s stock valued at $2,785,000 after purchasing an additional 450 shares during the last quarter. Buckingham Asset Management LLC raised its holdings in shares of Apache by 3.7% during the second quarter. Buckingham Asset Management LLC now owns 13,188 shares of the energy company’s stock valued at $382,000 after purchasing an additional 469 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Apache by 0.3% during the second quarter. Retirement Systems of Alabama now owns 175,313 shares of the energy company’s stock valued at $5,079,000 after purchasing an additional 506 shares during the last quarter. Institutional investors own 96.42% of the company’s stock.

About Apache (NYSE:APA)

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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