Apache (NYSE:APA) Stock Price Up 13.8%

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

APA has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on shares of Apache from to in a research report on Wednesday. Stifel Nicolaus cut shares of Apache from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $22.00 in a research report on Monday, March 9th. Bank of America raised shares of Apache from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $36.00 in a research report on Tuesday, January 7th. Mizuho boosted their price objective on shares of Apache from $24.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barclays raised shares of Apache from an “underweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock in a research report on Thursday, January 9th. Sixteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Apache has a consensus rating of “Hold” and an average price target of $24.17.

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.92. The firm’s 50 day simple moving average is $19.66 and its 200-day simple moving average is $23.48. The stock 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 quarterly earnings results on Wednesday, February 26th. The energy company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.14. Apache had a negative net margin of 55.42% and a positive return on equity of 0.03%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business earned $0.31 EPS. As a group, equities research analysts predict that Apache Co. will post -1.29 earnings per share for the current year.

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

Hedge funds have recently modified their holdings of the business. Covenant Multifamily Offices LLC boosted its holdings in Apache by 0.7% in the 4th quarter. Covenant Multifamily Offices LLC now owns 59,555 shares of the energy company’s stock valued at $1,524,000 after purchasing an additional 400 shares during the period. State of Michigan Retirement System boosted its holdings in Apache by 0.6% in the 4th quarter. State of Michigan Retirement System now owns 90,894 shares of the energy company’s stock valued at $2,326,000 after purchasing an additional 500 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in Apache by 12.8% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 4,400 shares of the energy company’s stock valued at $113,000 after purchasing an additional 500 shares during the period. Retirement Systems of Alabama boosted its holdings in Apache by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 165,265 shares of the energy company’s stock valued at $4,229,000 after purchasing an additional 626 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Apache by 0.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,399 shares of the energy company’s stock valued at $2,160,000 after purchasing an additional 785 shares during the period. Hedge funds and other institutional investors own 96.36% of the company’s stock.

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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