Apache Corp. (NYSE:APA) declared a quarterly dividend on Thursday, September 15th. Investors of record on Friday, October 21st will be paid a dividend of 0.25 per share by the energy company on Tuesday, November 22nd. This represents a $1.00 annualized dividend and a yield of 1.61%. The ex-dividend date is Wednesday, October 19th.
Apache Corp. (NYSE:APA) last posted its quarterly earnings data on Thursday, August 4th. The energy company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.09. Apache Corp. had a negative return on equity of 4.16% and a negative net margin of 261.91%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business earned $0.22 EPS. Apache Corp.’s revenue was down 38.5% on a year-over-year basis.
APA has been the topic of a number of recent research reports. Credit Agricole SA initiated coverage on Apache Corp. in a research note on Wednesday, June 22nd. They set an “underperform” rating on the stock. Wells Fargo & Co. restated an “outperform” rating on shares of Apache Corp. in a research note on Wednesday, July 6th. Jefferies Group restated a “sell” rating on shares of Apache Corp. in a research note on Thursday, August 4th. Barclays PLC lowered Apache Corp. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $45.00 to $49.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. lowered Apache Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $53.00 in a research note on Tuesday, August 9th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.92.
In other Apache Corp. news, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total transaction of $204,514.64. Following the completion of the sale, the insider now directly owns 12,755 shares of the company’s stock, valued at approximately $777,289.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of APA. Point72 Asia Hong Kong Ltd bought a new stake in shares of Apache Corp. during the second quarter worth approximately $117,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Apache Corp. during the second quarter worth approximately $200,000. RiverPoint Capital Management LLC bought a new stake in shares of Apache Corp. during the second quarter worth approximately $201,000. Wellington Shields Capital Management LLC bought a new stake in shares of Apache Corp. during the second quarter worth approximately $217,000. Finally, Oarsman Capital Inc. raised its stake in shares of Apache Corp. by 8.4% in the second quarter. Oarsman Capital Inc. now owns 5,143 shares of the energy company’s stock worth $286,000 after buying an additional 400 shares in the last quarter. 91.26% of the stock is owned by hedge funds and other institutional investors.
Apache Corp. Company Profile