Jefferies Group Equities Analysts Decrease Earnings Estimates for Apache Corporation (APA)

Apache Corporation (NYSE:APA) – Research analysts at Jefferies Group lowered their Q3 2017 earnings estimates for shares of Apache Corporation in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Hsu now expects that the energy company will earn $0.28 per share for the quarter, down from their previous forecast of $0.31. Jefferies Group currently has a “Sell” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Apache Corporation’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.61 EPS and FY2018 earnings at $1.83 EPS.

Apache Corporation (NYSE:APA) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.22. Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm posted ($0.26) earnings per share. Apache Corporation’s quarterly revenue was up .1% on a year-over-year basis.

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A number of other research analysts also recently issued reports on the company. Barclays PLC reiterated a “sell” rating and issued a $41.00 price target (down from $50.00) on shares of Apache Corporation in a report on Thursday, April 20th. BMO Capital Markets set a $45.00 price target on Apache Corporation and gave the company a “hold” rating in a report on Monday, June 26th. Scotiabank set a $50.00 price target on Apache Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $64.00 price target on shares of Apache Corporation in a report on Friday, June 16th. Finally, Zacks Investment Research downgraded Apache Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 5th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Apache Corporation presently has a consensus rating of “Hold” and a consensus price target of $56.26.

Apache Corporation (APA) opened at 40.63 on Wednesday. Apache Corporation has a 1-year low of $40.51 and a 1-year high of $69.00. The stock’s 50 day moving average price is $46.72 and its 200 day moving average price is $50.04. The stock’s market capitalization is $15.48 billion.

In other Apache Corporation news, Director John E. Lowe purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $449,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George D. Lawrence purchased 900 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $42.49 per share, with a total value of $38,241.00. Following the purchase, the director now owns 38,445 shares in the company, valued at $1,633,528.05. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Pinnacle Bank acquired a new position in shares of Apache Corporation during the first quarter valued at $100,000. Invictus RG acquired a new position in shares of Apache Corporation during the first quarter valued at $100,000. Thompson Davis & CO. Inc. raised its position in shares of Apache Corporation by 33.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,009 shares of the energy company’s stock valued at $103,000 after buying an additional 506 shares in the last quarter. Hanson McClain Inc. acquired a new position in shares of Apache Corporation during the second quarter valued at $106,000. Finally, Parallel Advisors LLC raised its position in shares of Apache Corporation by 7.4% in the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock valued at $114,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 93.72% of the company’s stock.

About Apache Corporation

Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.

Earnings History and Estimates for Apache Corporation (NYSE:APA)

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