Capital One Financial Research Analysts Cut Earnings Estimates for Apache Co. (APA)

Apache Co. (NYSE:APA) – Investment analysts at Capital One Financial decreased their FY2019 earnings per share estimates for Apache in a research report issued on Thursday, November 1st. Capital One Financial analyst R. Tullis now expects that the energy company will post earnings per share of $1.83 for the year, down from their prior estimate of $1.99.

Apache (NYSE:APA) last released its earnings results on Wednesday, October 31st. The energy company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.16. Apache had a return on equity of 7.71% and a net margin of 12.11%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business posted $0.04 EPS. The business’s revenue for the quarter was up 25.9% on a year-over-year basis.

Several other equities analysts have also recently weighed in on APA. Macquarie raised Apache from an “underperform” rating to a “neutral” rating and set a $37.00 target price on the stock in a research note on Friday. They noted that the move was a valuation call. Stephens set a $55.00 price target on Apache and gave the company a “buy” rating in a report on Thursday. Cowen set a $48.00 price target on Apache and gave the company a “hold” rating in a report on Thursday, July 19th. Zacks Investment Research lowered Apache from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Stifel Nicolaus set a $53.00 price target on Apache and gave the company a “hold” rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $46.85.

NYSE:APA opened at $35.94 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.20 and a current ratio of 1.35. Apache has a fifty-two week low of $33.60 and a fifty-two week high of $50.03. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 149.75, a price-to-earnings-growth ratio of 2.72 and a beta of 1.35.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 2.78%. Apache’s dividend payout ratio (DPR) is currently 416.67%.

In related news, CEO John J. Christmann bought 3,900 shares of Apache stock in a transaction that occurred on Monday, August 27th. The stock was purchased at an average cost of $43.63 per share, for a total transaction of $170,157.00. Following the acquisition, the chief executive officer now owns 150,696 shares in the company, valued at $6,574,866.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rebecca A. Hoyt sold 6,111 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $47.48, for a total value of $290,150.28. Following the completion of the sale, the insider now owns 30,548 shares of the company’s stock, valued at $1,450,419.04. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of APA. Zions Bancorporation acquired a new stake in Apache in the 3rd quarter worth approximately $103,000. Steward Partners Investment Advisory LLC lifted its holdings in Apache by 575.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,221 shares of the energy company’s stock worth $104,000 after purchasing an additional 1,892 shares during the last quarter. Field & Main Bank acquired a new stake in Apache in the 3rd quarter worth approximately $120,000. Dorsey & Whitney Trust CO LLC acquired a new stake in Apache in the 3rd quarter worth approximately $205,000. Finally, Wesbanco Bank Inc. acquired a new stake in Apache in the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.

About Apache

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.

See Also: Dividend

Earnings History and Estimates for Apache (NYSE:APA)

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