Shares of Apache Co. (NYSE:APA) have been given a consensus rating of “Hold” by the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $42.06.
APA has been the subject of a number of recent analyst reports. Mitsubishi UFJ Financial Group raised shares of Apache from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 27th. UBS Group initiated coverage on shares of Apache in a research note on Wednesday, March 7th. They issued a “sell” rating and a $34.00 price objective for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Apache in a research note on Monday, March 5th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $39.00 price objective (down previously from $43.00) on shares of Apache in a research note on Friday, February 23rd. Finally, Stifel Nicolaus set a $48.00 price objective on shares of Apache and gave the stock a “hold” rating in a research note on Wednesday, March 28th.
Apache stock traded down $1.28 during midday trading on Thursday, reaching $41.61. The stock had a trading volume of 8,703,638 shares, compared to its average volume of 3,888,292. Apache has a twelve month low of $33.60 and a twelve month high of $51.21. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.22 and a current ratio of 1.39. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 173.38, a P/E/G ratio of 3.53 and a beta of 1.06.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Shareholders of record on Monday, July 23rd will be given a $0.25 dividend. The ex-dividend date is Friday, July 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. Apache’s payout ratio is 416.67%.
In related news, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction on Tuesday, June 5th. The stock was bought at an average price of $38.35 per share, for a total transaction of $95,875.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $767,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.59% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in APA. Suntrust Banks Inc. raised its holdings in shares of Apache by 105.2% during the 1st quarter. Suntrust Banks Inc. now owns 43,692 shares of the energy company’s stock valued at $1,679,000 after purchasing an additional 22,401 shares in the last quarter. Howard Capital Management Inc. bought a new position in shares of Apache during the 1st quarter valued at $9,511,000. Xact Kapitalforvaltning AB raised its holdings in shares of Apache by 13.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 40,946 shares of the energy company’s stock valued at $1,576,000 after purchasing an additional 4,798 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of Apache by 8.0% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 183,000 shares of the energy company’s stock valued at $7,042,000 after purchasing an additional 13,600 shares in the last quarter. Finally, Kiwi Wealth Investments Limited Partnership bought a new position in shares of Apache during the 1st quarter valued at $3,090,000. Institutional investors own 98.28% of the company’s stock.
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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