$1.91 Billion in Sales Expected for Apache Co. (APA) This Quarter

Wall Street analysts expect Apache Co. (NYSE:APA) to post sales of $1.91 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Apache’s earnings, with the lowest sales estimate coming in at $1.79 billion and the highest estimate coming in at $1.99 billion. Apache reported sales of $1.58 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.9%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, October 31st.

According to Zacks, analysts expect that Apache will report full-year sales of $7.73 billion for the current year, with estimates ranging from $7.50 billion to $7.93 billion. For the next year, analysts forecast that the business will post sales of $8.52 billion, with estimates ranging from $7.79 billion to $9.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Apache.

Apache (NYSE:APA) last released its earnings results on Wednesday, August 1st. The energy company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. Apache had a return on equity of 5.21% and a net margin of 12.57%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.76 billion.



A number of equities analysts have recently commented on APA shares. Zacks Investment Research downgraded Apache from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Morgan Stanley began coverage on Apache in a research note on Thursday, July 12th. They set an “underweight” rating and a $42.00 target price for the company. Stifel Nicolaus set a $46.00 target price on Apache and gave the stock a “hold” rating in a research note on Thursday, July 19th. Cowen set a $48.00 target price on Apache and gave the stock a “hold” rating in a research note on Thursday, July 19th. Finally, Mizuho began coverage on Apache in a research note on Monday, July 23rd. They set a “neutral” rating and a $55.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $46.17.

Shares of Apache stock traded up $1.30 on Wednesday, reaching $38.75. 108,471 shares of the company were exchanged, compared to its average volume of 3,515,725. Apache has a 1-year low of $33.60 and a 1-year high of $50.03. The company has a market cap of $14.30 billion, a PE ratio of 160.83, a P/E/G ratio of 2.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.36.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 2.58%. Apache’s dividend payout ratio (DPR) is presently 416.67%.

In related news, insider Rebecca A. Hoyt sold 6,111 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $47.48, for a total transaction of $290,150.28. Following the transaction, the insider now directly owns 30,548 shares in the company, valued at $1,450,419.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John J. Christmann bought 3,900 shares of Apache stock in a transaction that occurred on Monday, August 27th. The shares were acquired at an average price of $43.63 per share, for a total transaction of $170,157.00. Following the completion of the transaction, the chief executive officer now directly owns 150,696 shares of the company’s stock, valued at approximately $6,574,866.48. The disclosure for this purchase can be found here. Corporate insiders own 0.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC raised its holdings in shares of Apache by 3.9% in the 2nd quarter. Boston Common Asset Management LLC now owns 29,547 shares of the energy company’s stock worth $1,381,000 after purchasing an additional 1,120 shares during the period. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Apache by 4.5% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 26,455 shares of the energy company’s stock worth $1,237,000 after purchasing an additional 1,150 shares during the period. World Asset Management Inc raised its holdings in shares of Apache by 4.6% in the 2nd quarter. World Asset Management Inc now owns 26,245 shares of the energy company’s stock worth $1,227,000 after purchasing an additional 1,154 shares during the period. Guinness Atkinson Asset Management Inc raised its holdings in shares of Apache by 4.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 25,509 shares of the energy company’s stock worth $1,193,000 after purchasing an additional 1,200 shares during the period. Finally, Donald L. Hagan LLC raised its holdings in shares of Apache by 4.0% in the 2nd quarter. Donald L. Hagan LLC now owns 32,083 shares of the energy company’s stock worth $1,500,000 after purchasing an additional 1,227 shares during the period. Hedge funds and other institutional investors own 96.72% of the company’s stock.

About Apache

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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