These Numbers Could Change Investor Views For Apache Corporation (NASDAQ: APA)


BlackRock Fund Advisors recently announced the acquisition of new stake in Apache Corporation (NASDAQ:APA). The institutional investor has increased its shareholding in the Energy company by 2.01% to 18.95 million shares with purchase of 0.37 million shares. This fresh investment now brings its stake to 5.03% valued currently at $290.91 million. In addition, Hotchkis & Wiley Capital Manageme.. raised its holdings by 4.05 million to 18.49 million shares. And Arrowstreet Capital LP has lifted its position by 535.16% or 5.63 million shares – to 6.68 million shares.

With over 4.71 million Apache Corporation (APA) shares trading Tuesday and a closing price of $14.65 on the day, the dollar volume was approximately $69.01 million. The shares have shown a negative weekly performance of -3.93% and its price on 08/25/20 gained nearly 1.35%. Currently, there are 378.00M common shares owned by the public and among those 376.48M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 31 analysts who have offered their price forecasts for APA have a consensus price objective of $17.12. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $11.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Apache Corporation stock is 2.60 for the next 12 months. The average price target is 11.1% above its last price level and an upside to the estimated low will see the stock lose -33.18% over that period. But an upside of 43.65% will see the stock hit the forecast high price target while mean target price for the stock is $17.00.

Insiders at the company have transacted a total of 113 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 57 of these insider trades were purchases, accounting for 496,223 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 244,214 shares.

The top 3 mutual fund holders in Apache Corporation are Dodge & Cox Funds – Stock Fund, Oakmark Fund, and Vanguard Total Stock Market Index. Dodge & Cox Funds – Stock Fund owns 32.41 million shares of the company’s stock, all valued at over $497.46 million. Oakmark Fund bought 2.74 million shares to see its total holdings expand to 13.54 million shares valued at over $207.82 million and representing 3.59% of the shares outstanding. Vanguard Total Stock Market Index sold 5201.0 shares to bring its total holdings to over 10.78 million shares at a value of $165.49 million. Vanguard Total Stock Market Index now owns shares totaling to 2.86% of the shares outstanding.

Shares of Apache Corporation (NASDAQ: APA) opened at $14.62, up $0.17 from a prior closing price of $14.45. However, the script later closed the day at $14.65, up 1.35%. The company’s stock has a 5-day price change of -3.93% and 16.45% over the past three months. APA shares are trading -42.75% year to date (YTD), with the 12-month market performance down to -30.24% lower. It has a 12-month low price of $3.80 and touched a high of $33.77 over the same period. Currently, 4.71 million shares have been traded, compared to an average intraday trading volume of 12.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.04%, 2.59%, and -16.10% respectively.

Institutional ownership of Apache Corporation (NASDAQ: APA) shares accounts for 88.80% of the company’s 378.00M shares outstanding. Mutual fund holders own 24.28%, while other institutional holders and individual stakeholders account for 60.89% and 0.99% respectively.

It has a market capitalization of $5.72B and a beta (3y monthly) value of 4.81. The earnings-per-share (ttm) stands at -$21.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.55% over the week and 4.48% over the month.

Analysts forecast that Apache Corporation (APA) will achieve an EPS of -$0.39 for the current quarter, -$0.16 for the next quarter and -$0.02 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.84 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was -$0.29 a year ago.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 31 brokerage firm advisors rate Apache Corporation (APA) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 21 of the 31 advise that investors “hold,” and 1 rated it as a “Sell.”

Looking at the support for the APA, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on August 05, 2020, with the firm’s price target at $15. Stifel coverage for the Apache Corporation (APA) stock in a research note released on July 30, 2020 offered a Buy rating with a price target of $18. JP Morgan was of a view on July 23, 2020 that the stock is Overweight, while Raymond James gave the stock Outperform rating on July 20, 2020, issuing a price target of $18. Citigroup on their part issued Buy rating on June 15, 2020.


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