Brokerages expect Apache Co. (NYSE:APA) to announce $1.71 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Apache’s earnings, with estimates ranging from $1.58 billion to $1.90 billion. Apache posted sales of $1.38 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.9%. The company is expected to issue its next earnings report on Thursday, August 2nd.
On average, analysts expect that Apache will report full-year sales of $6.98 billion for the current fiscal year, with estimates ranging from $6.52 billion to $7.55 billion. For the next fiscal year, analysts expect that the company will report sales of $7.14 billion per share, with estimates ranging from $6.37 billion to $7.98 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Apache.
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Apache (NYSE:APA) last released its earnings results on Wednesday, May 2nd. The energy company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. Apache had a return on equity of 2.16% and a net margin of 19.67%. During the same period in the prior year, the firm posted $0.08 EPS.
APA has been the topic of several analyst reports. Morgan Stanley increased their target price on Apache from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Stifel Nicolaus set a $41.00 price objective on Apache and gave the stock a “hold” rating in a research report on Tuesday, January 30th. ValuEngine downgraded Apache from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Credit Suisse Group restated a “neutral” rating and set a $39.00 price objective (down from $43.00) on shares of Apache in a research report on Friday, February 23rd. Finally, Mitsubishi UFJ Financial Group upgraded Apache from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 27th. Ten investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $41.13.
APA opened at $44.28 on Tuesday. The firm has a market cap of $16.78 billion, a PE ratio of 184.50, a P/E/G ratio of 4.53 and a beta of 1.10. Apache has a 52-week low of $33.60 and a 52-week high of $51.45. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.89.
In other news, Director John E. Lowe bought 2,500 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average cost of $33.80 per share, for a total transaction of $84,500.00. Following the completion of the transaction, the director now owns 17,500 shares of the company’s stock, valued at $591,500. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.59% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. raised its position in Apache by 176.1% in the fourth quarter. Pinebridge Investments L.P. now owns 3,495 shares of the energy company’s stock valued at $148,000 after purchasing an additional 2,229 shares during the last quarter. Fairfield Bush & CO. bought a new position in Apache in the first quarter valued at about $135,000. Rampart Investment Management Company LLC bought a new position in Apache in the first quarter valued at about $158,000. M Holdings Securities Inc. bought a new position in Apache in the fourth quarter valued at about $205,000. Finally, Aries Wealth Management bought a new position in Apache in the fourth quarter valued at about $233,000. Hedge funds and other institutional investors own 98.40% of the company’s stock.
Apache Company Profile
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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