Apache Co. (NYSE:APA) Sees Significant Growth in Short Interest

Apache Co. (NYSE:APA) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 33,922,000 shares, a growth of 40.8% from the July 31st total of 24,098,900 shares. Based on an average daily volume of 5,120,000 shares, the days-to-cover ratio is currently 6.6 days. Approximately 9.1% of the shares of the company are short sold.

Several equities analysts recently issued reports on the company. Wolfe Research upgraded Apache from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 3rd. ValuEngine upgraded Apache from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. TheStreet cut Apache from a “c-” rating to a “d+” rating in a research note on Tuesday, September 3rd. Seaport Global Securities reiterated a “neutral” rating on shares of Apache in a research note on Friday, June 21st. Finally, Zacks Investment Research upgraded Apache from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Monday, May 20th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $35.61.

APA stock traded up $0.28 during mid-day trading on Friday, reaching $24.12. The company had a trading volume of 94,868 shares, compared to its average volume of 4,616,095. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $9.17 billion, a P/E ratio of 13.57, a P/E/G ratio of 16.53 and a beta of 1.84. Apache has a one year low of $19.44 and a one year high of $50.03. The stock’s 50-day simple moving average is $22.32 and its two-hundred day simple moving average is $28.85.



Apache (NYSE:APA) last issued its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Apache had a negative net margin of 10.12% and a positive return on equity of 5.12%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. On average, research analysts forecast that Apache will post 0.24 EPS for the current fiscal year.

In other news, Director John E. Lowe acquired 5,000 shares of Apache stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $21.83 per share, for a total transaction of $109,150.00. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $654,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of APA. Private Capital Group LLC bought a new stake in shares of Apache during the second quarter valued at about $37,000. Signaturefd LLC raised its stake in shares of Apache by 66.1% during the first quarter. Signaturefd LLC now owns 1,276 shares of the energy company’s stock valued at $44,000 after purchasing an additional 508 shares in the last quarter. CSat Investment Advisory L.P. raised its stake in shares of Apache by 152.8% during the second quarter. CSat Investment Advisory L.P. now owns 1,909 shares of the energy company’s stock valued at $56,000 after purchasing an additional 1,154 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of Apache by 4,074.7% during the second quarter. NEXT Financial Group Inc now owns 3,131 shares of the energy company’s stock valued at $91,000 after purchasing an additional 3,056 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Apache during the second quarter valued at about $123,000. Institutional investors and hedge funds own 95.30% 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 in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.

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