Zacks: Analysts Expect Apache Co. (APA) Will Announce Quarterly Sales of $1.54 Billion

Equities analysts forecast that Apache Co. (NYSE:APA) will report sales of $1.54 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Apache’s earnings, with the lowest sales estimate coming in at $1.46 billion and the highest estimate coming in at $1.74 billion. Apache posted sales of $1.45 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The firm is expected to issue its next earnings results before the market opens on Thursday, February 22nd.

On average, analysts expect that Apache will report full year sales of $1.54 billion for the current year, with estimates ranging from $5.78 billion to $6.58 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.77 billion per share, with estimates ranging from $6.20 billion to $7.35 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Apache.

A number of equities research analysts have issued reports on the company. Morgan Stanley raised 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. Stifel Nicolaus set a $41.00 target price on Apache and gave the company a “hold” rating in a research note on Tuesday, January 30th. Royal Bank of Canada restated a “hold” rating and set a $55.00 price objective on shares of Apache in a research note on Tuesday, November 7th. Bank of America lifted their price objective on shares of Apache from $41.00 to $42.00 and gave the company an “underperform” rating in a research note on Monday, November 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $42.00 price objective on shares of Apache in a research note on Tuesday, November 7th. Nine analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Apache currently has an average rating of “Hold” and a consensus target price of $45.69.

In other Apache news, insider P Anthony Lannie sold 19,514 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $44.04, for a total value of $859,396.56. Following the sale, the insider now directly owns 37,469 shares in the company, valued at $1,650,134.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John E. Lowe purchased 3,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average price of $40.02 per share, for a total transaction of $120,060.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $600,300. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC bought a new stake in Apache in the third quarter worth about $135,000. Steward Partners Investment Advisory LLC bought a new stake in Apache in the third quarter worth about $134,000. Gs Investments Inc. bought a new stake in Apache in the second quarter worth about $149,000. Pinebridge Investments L.P. raised its position in Apache by 176.1% in 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 in the last quarter. Finally, North Star Asset Management Inc. bought a new stake in Apache in the third quarter worth about $206,000. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Apache (NYSE APA) traded down $0.50 during mid-day trading on Thursday, reaching $37.23. The company’s stock had a trading volume of 5,886,440 shares, compared to its average volume of 4,290,000. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.37. The company has a market capitalization of $14,180.00, a PE ratio of 21.52, a price-to-earnings-growth ratio of 3.97 and a beta of 1.05. Apache has a 12 month low of $35.70 and a 12 month high of $57.88.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, January 19th. Apache’s dividend payout ratio (DPR) is presently 57.80%.

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Apache Company Profile

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

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Earnings History and Estimates for Apache (NYSE:APA)

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