Trading Report: Today, Traders Buy Shares of Apache Corp. (APA) on Weakness After Insider Selling

Today, Traders Buy Shares of Apache Corp. (APA) on Weakness After Insider Selling

Traders purchased shares of Apache Corp. (NYSE:APA) on weakness during trading hours on Monday following insider selling activity. $45.23 million flowed into the stock on the tick-up and $23.99 million flowed out of the stock on the tick-down, for a money net flow of $21.24 million into the stock. Of all stocks tracked, Apache Corp. had the 20th highest net in-flow for the day. Apache Corp. traded down ($0.81) for the day and closed at $62.84Specifically, insider Rebecca A. Hoyt sold 3,356 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $60.94, for a total transaction of $204,514.64. Following the sale, the insider now owns 12,755 shares in the company, valued at $777,289.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James L. House sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $63.38, for a total value of $507,040.00. Following the sale, the insider now owns 2,057 shares in the company, valued at approximately $130,372.66. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Several research firms recently issued reports on APA. Wolfe Research upgraded Apache Corp. from an “underperform” rating to a “market perform” rating in a report on Monday, September 12th. Jefferies Group reiterated a “sell” rating on shares of Apache Corp. in a report on Thursday, August 11th. Citigroup Inc. lowered Apache Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $53.00 in a report on Tuesday, August 9th. They noted that the move was a valuation call. Credit Suisse Group AG reiterated a “hold” rating and set a $67.00 target price on shares of Apache Corp. in a report on Monday, September 12th. Finally, Zacks Investment Research lowered Apache Corp. from a “buy” rating to a “hold” rating in a report on Friday, November 18th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $58.83.

The company’s market cap is $23.28 billion. The stock has a 50 day moving average price of $61.00 and a 200 day moving average price of $56.88.

Apache Corp. (NYSE:APA) last released its quarterly earnings results on Thursday, November 3rd. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.13. The business earned $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, analysts forecast that Apache Corp. will post ($1.00) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, October 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. Apache Corp.’s dividend payout ratio (DPR) is currently -4.42%.

A number of institutional investors have recently added to or reduced their stakes in APA. Spirit of America Management Corp NY acquired a new position in shares of Apache Corp. during the third quarter worth $128,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of Apache Corp. during the second quarter worth $117,000. Tower Research Capital LLC TRC acquired a new position in shares of Apache Corp. during the second quarter worth $117,000. Zions Bancorporation increased its position in shares of Apache Corp. by 2.1% in the second quarter. Zions Bancorporation now owns 2,382 shares of the energy company’s stock worth $132,000 after buying an additional 50 shares during the last quarter. Finally, JNBA Financial Advisors increased its position in shares of Apache Corp. by 99.1% in the second quarter. JNBA Financial Advisors now owns 2,578 shares of the energy company’s stock worth $144,000 after buying an additional 1,283 shares during the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

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