Apache (APA) Rating Reiterated by Raymond James

Apache (NYSE:APA)‘s stock had its “buy” rating reaffirmed by Raymond James in a research note issued to investors on Thursday. They presently have a $65.00 price objective on the energy company’s stock. Raymond James’ target price would suggest a potential upside of 80.86% from the company’s previous close.

A number of other brokerages have also weighed in on APA. Zacks Investment Research lowered shares of Apache from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Morgan Stanley began coverage on shares of Apache in a research note on Thursday, July 12th. They set an “underweight” rating and a $42.00 target price on the stock. Stephens set a $55.00 target price on shares of Apache and gave the company a “buy” rating in a research note on Monday, September 24th. Piper Jaffray Companies lowered shares of Apache from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 27th. Finally, Scotiabank reaffirmed a “hold” rating and set a $55.00 target price on shares of Apache in a research note on Thursday, September 27th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $46.85.

Shares of APA opened at $35.94 on Thursday. The stock has a market cap of $14.47 billion, a PE ratio of 21.25, a P/E/G ratio of 2.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.36. Apache has a 1-year low of $33.60 and a 1-year high of $50.03.

Apache (NYSE:APA) last announced its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 7.72%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. Research analysts expect that Apache will post 1.89 EPS for the current year.

In other Apache news, CEO John J. Christmann purchased 3,900 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was bought at an average cost of $43.63 per share, with a total value of $170,157.00. Following the transaction, the chief executive officer now directly owns 150,696 shares in the company, valued at approximately $6,574,866.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rebecca A. Hoyt sold 6,111 shares of Apache stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $47.48, for a total transaction of $290,150.28. Following the transaction, the insider now directly owns 30,548 shares of the company’s stock, valued at $1,450,419.04. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. lifted its position in Apache by 7.1% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 63,434 shares of the energy company’s stock valued at $3,024,000 after acquiring an additional 4,200 shares during the period. BP PLC lifted its position in Apache by 7.5% during the 3rd quarter. BP PLC now owns 43,000 shares of the energy company’s stock valued at $2,050,000 after acquiring an additional 3,000 shares during the period. Barnett & Company Inc. lifted its position in Apache by 75.3% during the 3rd quarter. Barnett & Company Inc. now owns 14,900 shares of the energy company’s stock valued at $710,000 after acquiring an additional 6,400 shares during the period. Usca Ria LLC raised its holdings in Apache by 22.6% in the third quarter. Usca Ria LLC now owns 9,549 shares of the energy company’s stock worth $455,000 after buying an additional 1,758 shares during the last quarter. Finally, Zions Bancorporation purchased a new position in Apache in the third quarter worth about $103,000. 96.72% of the stock is owned by institutional investors.

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

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