Short Interest in Apache Co. (APA) Expands By 11.0%

Apache Co. (NYSE:APA) saw a significant growth in short interest during the month of March. As of March 29th, there was short interest totalling 31,978,776 shares, a growth of 11.0% from the March 15th total of 28,808,091 shares. Currently, 8.4% of the company’s stock are sold short. Based on an average daily volume of 6,041,547 shares, the short-interest ratio is presently 5.3 days.

In related news, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were bought at an average price of $33.80 per share, for a total transaction of $84,500.00. Following the completion of the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at $591,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Apache during the third quarter worth about $134,000. Pinebridge Investments L.P. grew its stake in shares of Apache by 176.1% during the fourth quarter. Pinebridge Investments L.P. now owns 3,495 shares of the energy company’s stock worth $148,000 after acquiring an additional 2,229 shares during the last quarter. M Holdings Securities Inc. purchased a new stake in Apache in the fourth quarter valued at approximately $205,000. Aries Wealth Management purchased a new stake in Apache in the fourth quarter valued at approximately $233,000. Finally, First Merchants Corp purchased a new stake in Apache in the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Several equities analysts have issued reports on APA shares. Mitsubishi UFJ Financial Group upgraded Apache from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 27th. Morgan Stanley lifted their target price on Apache from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup cut their target price on Apache from $46.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 target price on shares of Apache in a research note on Tuesday, February 27th. Finally, Jefferies Group set a $32.00 target price on Apache and gave the company a “sell” rating in a research note on Monday, March 19th. Ten equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.27.

Shares of APA stock opened at $40.79 on Tuesday. Apache has a fifty-two week low of $33.60 and a fifty-two week high of $52.97. The stock has a market cap of $15,494.41, a PE ratio of 169.96, a price-to-earnings-growth ratio of 3.94 and a beta of 1.10. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.31 and a current ratio of 1.45.

Apache (NYSE:APA) last issued its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.12. Apache had a return on equity of 1.11% and a net margin of 20.32%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. sell-side analysts predict that Apache will post 1.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. Apache’s payout ratio is 416.67%.

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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.

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