Apache Corporation (NYSE:APA) Price Target Cut to $50.00 by Analysts at Citigroup Inc.

Apache Corporation (NYSE:APA) had its target price decreased by Citigroup Inc. from $58.00 to $50.00 in a research report report published on Friday. Citigroup Inc. currently has a neutral rating on the energy company’s stock.

Several other analysts have also recently issued reports on APA. Royal Bank Of Canada restated a hold rating and issued a $55.00 target price on shares of Apache Corporation in a report on Thursday, July 20th. Cowen and Company set a $50.00 target price on Apache Corporation and gave the company a hold rating in a report on Tuesday, July 18th. Wolfe Research cut Apache Corporation from a market perform rating to an underperform rating in a report on Monday, July 17th. Sanford C. Bernstein restated an outperform rating on shares of Apache Corporation in a report on Friday, July 7th. Finally, Zacks Investment Research cut Apache Corporation from a hold rating to a strong sell rating in a report on Wednesday, July 5th. Seven research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $56.39.

Apache Corporation (NYSE:APA) opened at 47.96 on Friday. The company has a 50 day moving average of $47.66 and a 200-day moving average of $51.95. The stock’s market capitalization is $18.25 billion. Apache Corporation has a 12-month low of $44.60 and a 12-month high of $69.00.

Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, May 4th. The energy company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.08. Apache Corporation had a negative net margin of 13.34% and a negative return on equity of 1.27%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted ($0.40) earnings per share. On average, equities research analysts forecast that Apache Corporation will post $0.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Friday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, July 19th. Apache Corporation’s dividend payout ratio (DPR) is -46.08%.

In other news, Director Rene R. Joyce bought 10,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $513,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Fulton Bank N.A. boosted its position in shares of Apache Corporation by 0.6% in the second quarter. Fulton Bank N.A. now owns 10,316 shares of the energy company’s stock worth $494,000 after buying an additional 59 shares during the period. Toronto Dominion Bank boosted its position in shares of Apache Corporation by 56.6% in the first quarter. Toronto Dominion Bank now owns 102,458 shares of the energy company’s stock worth $5,265,000 after buying an additional 37,028 shares during the period. Brandes Investment Partners LP boosted its position in shares of Apache Corporation by 1.4% in the first quarter. Brandes Investment Partners LP now owns 1,169,745 shares of the energy company’s stock worth $60,113,000 after buying an additional 15,617 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Apache Corporation during the first quarter worth approximately $48,518,000. Finally, Rothschild Investment Corp IL raised its stake in Apache Corporation by 36.1% in the first quarter. Rothschild Investment Corp IL now owns 11,481 shares of the energy company’s stock worth $590,000 after buying an additional 3,047 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

About Apache Corporation

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.