Apache Corp. (APA) Shares Gap Down on Insider Selling
Shares of Apache Corp. (NYSE:APA) gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $62.94, but opened at $61.35. Apache Corp. shares last traded at $60.74, with a volume of 4,391,339 shares trading hands.
Specifically, Director Chansoo Joung purchased 15,000 shares of the stock in a transaction on Wednesday, November 9th. The shares were purchased at an average price of $58.02 per share, with a total value of $870,300.00. Following the acquisition, the director now directly owns 45,285 shares of the company’s stock, valued at approximately $2,627,435.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rebecca A. Hoyt sold 3,356 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $60.94, for a total transaction of $204,514.64. Following the completion of the sale, the insider now directly owns 12,755 shares in the company, valued at approximately $777,289.70. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.
APA has been the topic of several analyst reports. Jefferies Group reissued a “sell” rating on shares of Apache Corp. in a report on Thursday, August 4th. Barclays PLC lowered shares of Apache Corp. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $45.00 to $49.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Citigroup Inc. lowered shares of Apache Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $53.00 in a report on Tuesday, August 9th. They noted that the move was a valuation call. Vetr raised shares of Apache Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday, August 10th. Finally, Zacks Investment Research lowered shares of Apache Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $58.83.
The firm has a 50-day moving average of $60.90 and a 200 day moving average of $56.91. The firm’s market capitalization is $23.05 billion.
Apache Corp. (NYSE:APA) last released its quarterly earnings results on Thursday, November 3rd. The energy company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Apache Corp. had a negative return on equity of 4.70% and a negative net margin of 166.56%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. Equities analysts predict that Apache Corp. will post ($1.00) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Wednesday, October 19th. Apache Corp.’s dividend payout ratio (DPR) is currently -4.42%.
Hedge funds have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. raised its position in Apache Corp. by 328.7% in the first quarter. Panagora Asset Management Inc. now owns 141,033 shares of the energy company’s stock worth $6,884,000 after buying an additional 108,139 shares in the last quarter. Babson Capital Management LLC raised its position in Apache Corp. by 218.2% in the first quarter. Babson Capital Management LLC now owns 31,647 shares of the energy company’s stock worth $1,545,000 after buying an additional 21,700 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Apache Corp. by 26.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,008 shares of the energy company’s stock worth $487,000 after buying an additional 2,066 shares in the last quarter. Cullinan Associates Inc. raised its position in Apache Corp. by 1.7% in the second quarter. Cullinan Associates Inc. now owns 42,500 shares of the energy company’s stock worth $2,366,000 after buying an additional 700 shares in the last quarter. Finally, Patten & Patten Inc. TN raised its position in Apache Corp. by 3.8% in the second quarter. Patten & Patten Inc. TN now owns 6,895 shares of the energy company’s stock worth $384,000 after buying an additional 250 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Apache Corp. (APA) Shares Gap Down on Insider Selling” was first published by Financial Market News and is the sole property of of Financial Market News. If you are reading this article on another website, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this article can be viewed at http://www.financial-market-news.com/apache-corp-apa-shares-gap-down-on-insider-selling/1209610/.
About Apache Corp.
Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).
Receive News & Ratings for Apache Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apache Corp. and related companies with MarketBeat.com's FREE daily email newsletter.