Apache (NYSE:APA) Trading 13.8% Higher

Apache Co. (NYSE:APA) traded up 13.8% during mid-day trading on Wednesday . The stock traded as high as $5.84 and last traded at $6.35, 768,001 shares changed hands during mid-day trading. A decline of 95% from the average session volume of 14,100,808 shares. The stock had previously closed at $5.58.

Several equities analysts have issued reports on the stock. SunTrust Banks cut shares of Apache from a “buy” rating to a “hold” rating and decreased their price target for the company from $37.00 to $15.00 in a research report on Monday, March 9th. Credit Suisse Group decreased their price target on shares of Apache from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. KeyCorp decreased their price objective on shares of Apache from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America upgraded shares of Apache from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $36.00 in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus cut shares of Apache from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $28.00 to $22.00 in a research report on Monday, March 9th. Sixteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.17.

The company has a debt-to-equity ratio of 1.92, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average price is $19.66 and its two-hundred day moving average price is $23.48. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -0.61 and a beta of 1.90.

Apache (NYSE:APA) last issued its earnings results on Wednesday, February 26th. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.14. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.61 billion. Apache had a negative net margin of 55.42% and a positive return on equity of 0.03%. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities research analysts expect that Apache Co. will post -1.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 17.36%. The ex-dividend date of this dividend is Tuesday, April 21st.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its stake in Apache by 8.7% during the fourth quarter. State Street Corp now owns 20,590,533 shares of the energy company’s stock worth $526,912,000 after acquiring an additional 1,645,015 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Apache by 5.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 15,857,066 shares of the energy company’s stock worth $405,782,000 after acquiring an additional 876,050 shares in the last quarter. Geode Capital Management LLC boosted its stake in Apache by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 5,773,764 shares of the energy company’s stock worth $147,443,000 after acquiring an additional 209,477 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Apache by 49.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,155,062 shares of the energy company’s stock worth $106,327,000 after acquiring an additional 1,369,676 shares in the last quarter. Finally, Norges Bank bought a new position in Apache during the fourth quarter worth $102,618,000. 96.36% of the stock is currently owned by institutional investors and hedge funds.

Apache Company Profile (NYSE:APA)

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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