Apache (NYSE:APA) Trading Down 5.8%

Apache Co. (NYSE:APA) dropped 5.8% on Monday . The stock traded as low as $26.41 and last traded at $26.75, approximately 3,025,100 shares changed hands during mid-day trading. A decline of 43% from the average daily volume of 5,353,375 shares. The stock had previously closed at $28.40.

APA has been the subject of several analyst reports. Morgan Stanley raised Apache from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $18.00 to $31.00 in a report on Monday, January 13th. Susquehanna Bancshares initiated coverage on Apache in a report on Tuesday, January 14th. They issued a “positive” rating and a $38.00 price objective for the company. Credit Suisse Group dropped their price objective on Apache from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Mizuho lifted their price objective on Apache from $24.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Raymond James lifted their price objective on Apache from $26.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Apache has a consensus rating of “Hold” and a consensus target price of $32.00.

The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of -10.57 and a beta of 1.98. The company has a fifty day simple moving average of $29.59 and a two-hundred day simple moving average of $24.58.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.74%. Apache’s dividend payout ratio (DPR) is currently 56.50%.

Institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in Apache by 8.7% in the 4th quarter. State Street Corp now owns 20,590,533 shares of the energy company’s stock worth $526,912,000 after purchasing an additional 1,645,015 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Apache by 5.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 15,857,066 shares of the energy company’s stock worth $405,782,000 after purchasing an additional 876,050 shares in the last quarter. Geode Capital Management LLC increased its holdings in Apache by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,773,764 shares of the energy company’s stock worth $147,443,000 after purchasing an additional 209,477 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Apache by 49.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,155,062 shares of the energy company’s stock worth $106,327,000 after purchasing an additional 1,369,676 shares in the last quarter. Finally, Capital World Investors acquired a new position in Apache in the 4th quarter worth about $99,801,000. 94.81% of the stock is owned by institutional investors.

About Apache (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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