Apache (NYSE:APA) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Apache (NYSE:APA) from a sell rating to a strong sell rating in a report published on Monday, ValuEngine reports.

APA has been the subject of a number of other research reports. Morgan Stanley set a $23.00 price target on Cabot Oil & Gas and gave the stock a hold rating in a report on Monday, June 24th. Zacks Investment Research cut GreenTree Hospitality Group from a buy rating to a hold rating in a report on Monday, May 20th. Wolfe Research raised Apache from an underperform rating to a peer perform rating in a report on Monday, June 3rd. Seaport Global Securities reaffirmed a buy rating on shares of W&T Offshore in a report on Friday, June 21st. Finally, BMO Capital Markets reaffirmed a buy rating on shares of Brookfield Asset Management in a report on Friday, April 5th. Five equities 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 company. Apache presently has a consensus rating of Hold and an average price target of $40.48.

Apache stock opened at $26.74 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.05 and a quick ratio of 0.87. Apache has a 52 week low of $24.56 and a 52 week high of $50.03. The firm has a market cap of $10.47 billion, a PE ratio of 15.11, a P/E/G ratio of 4.53 and a beta of 1.79. The stock’s fifty day simple moving average is $27.92.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a $0.25 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.74%. Apache’s dividend payout ratio (DPR) is presently 56.50%.

In related news, EVP William Mark Meyer purchased 2,000 shares of Apache stock in a transaction on Friday, May 31st. The shares were purchased at an average price of $25.92 per share, for a total transaction of $51,840.00. Following the transaction, the executive vice president now owns 2,919 shares of the company’s stock, valued at approximately $75,660.48. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Juliet S. Ellis purchased 3,500 shares of Apache stock in a transaction on Friday, May 24th. The stock was bought at an average price of $27.26 per share, for a total transaction of $95,410.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $95,410. The disclosure for this purchase can be found here. Insiders acquired a total of 10,500 shares of company stock worth $298,500 in the last quarter. Corporate insiders own 0.69% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio grew its position in shares of Apache by 1.3% in the 1st quarter. Strs Ohio now owns 324,296 shares of the energy company’s stock valued at $11,240,000 after buying an additional 4,299 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Apache by 569.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 268,390 shares of the energy company’s stock valued at $9,302,000 after purchasing an additional 228,284 shares in the last quarter. South Dakota Investment Council boosted its position in shares of Apache by 6.6% during the 1st quarter. South Dakota Investment Council now owns 598,755 shares of the energy company’s stock valued at $20,753,000 after purchasing an additional 37,318 shares in the last quarter. State of Wisconsin Investment Board boosted its position in shares of Apache by 430.7% during the 1st quarter. State of Wisconsin Investment Board now owns 509,135 shares of the energy company’s stock valued at $17,647,000 after purchasing an additional 413,193 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Apache by 12.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 73,012 shares of the energy company’s stock valued at $2,531,000 after purchasing an additional 8,150 shares in the last quarter. Hedge funds and other institutional investors own 96.46% of the company’s stock.

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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