Revenue Approximations Analysis: Apache Corporation (APA), LKQ Corporation (LKQ)
- Author: Zachary Reyes Feb 24, 2017,
Feb 24, 2017, 13:48
Oil and gas producer Apache Corp said it would spend 63.2 percent more in 2017 than it did a year ago, joining a growing list of US shale producers who are ramping up spending to take advantage of a recovery in oil prices. Ardevora Asset Management LLP's holdings in Apache Corporation were worth $20,767,000 at the end of the most recent quarter. The stock's 50-day moving average is $61.62 and its 200 day moving average is $59.64.
The Houston exploration and production company said it aggressively cut costs while meeting production targets, shrinking its loss for the three months ending in December to $182 milliion from $4 billion in the same period a year earlier. The stock gained a consensus recommendation of 2.86 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell. BMO Capital Markets reaffirmed a hold rating and issued a $65.00 target price on shares of Apache Corporation in a research report on Wednesday, January 11th.
Zacks Rank & Surprise History: Currently, Apache has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 earnings report which has just released. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Hedge funds and other institutional investors own 93.38% of the company's stock.
Apache, which also reported a surprise loss on Thursday, said it expected to produce 486,000-506,000 barrels of oil-equivalent per day (boepd) this year.
Many Analysts provided their foresight on Revenue Estimates of Apache Corp. where they believe that the company has the potential to earn average revenue of $1.51 Billion for the current quarter.
EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -2440%, and looking further price to next year's EPS is -8.70%. Apache Corporation's payout ratio is now -4.42%. The Average Volume for the stock is measured as 3.15 Million. The Stock Closing Price on the 7th day of earnings was $53.56. Vice Pres, Chief Acct Off; Hoyt Rebecca A disposed a total of 3,356 shares at an average price of $60.94, amounting to approximately $204,515. Also, Director Chansoo Joung acquired 15,000 shares of the firm's stock in a transaction on Wednesday, November 9th. Following the completion of the transaction, the director now directly owns 45,285 shares in the company, valued at approximately $2,627,435.70. After this purchase, 7,500 common shares of APA are directly owned by the insider, with total stake valued at $397,350. The disclosure for this purchase can be found here.
Apache Corporation (Apache) is an independent energy company.