What’s Propelling Apache Corporation to Increase So Much?

 What's Propelling Apache Corporation to Increase So Much?

In today’s session Apache Corporation (APA) registered an unusually high (2,942) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious APA increase. With 2,942 contracts traded and 6364 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: APA170120C00075000 closed last at: $1.24 or 7.5% down. About 704,486 shares traded hands. Apache Corporation (NYSE:APA) has risen 51.99% since March 2, 2016 and is uptrending. It has outperformed by 43.73% the S&P500.

Analysts await Apache Corporation (NYSE:APA) to report earnings on November, 3. They expect $0.02 earnings per share, up 140.00% or $0.07 from last year’s $-0.05 per share. APA’s profit will be $7.57 million for 812.50 P/E if the $0.02 EPS becomes a reality. After $-0.26 actual earnings per share reported by Apache Corporation for the previous quarter, Wall Street now forecasts -107.69% EPS growth.

Apache Corporation (NYSE:APA) Ratings Coverage

Out of 20 analysts covering Apache Corporation (NYSE:APA), 6 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 30% are positive. $72 is the highest target while $31 is the lowest. The $54.42 average target is -16.28% below today’s ($65) stock price. Apache Corporation has been the topic of 50 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, March 18, the company rating was reinitiated by RBC Capital Markets. Credit Suisse maintained the stock with “Neutral” rating in Friday, August 7 report. Citigroup maintained it with “Buy” rating and $55 target price in Thursday, April 7 report. Credit Suisse initiated the stock with “Neutral” rating in Wednesday, July 22 report. The company was maintained on Thursday, March 10 by Bernstein. RBC Capital Markets maintained Apache Corporation (NYSE:APA) rating on Friday, May 6. RBC Capital Markets has “Sector Perform” rating and $56 price target. The firm earned “Equal-Weight” rating on Tuesday, September 13 by Barclays Capital. The firm has “Outperform” rating given on Friday, November 6 by RBC Capital Markets. RBC Capital Markets maintained Apache Corporation (NYSE:APA) on Friday, August 7 with “Outperform” rating. S&P Research maintained the stock with “Buy” rating in Friday, August 7 report.

According to Zacks Investment Research, “Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. In North America, Apache’s exploration and production interests are focused on the Gulf of Mexico, the Anadarko Basin, the Permian Basin, the Gulf Coast and the Western Sedimentary Basin of Canada. Outside of North America, Apache has exploration and production interests offshore Western Australia and in Egypt, and exploration interests in Poland and offshore The People’s Republic of China.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in 2016 Q2. Its down 0.01, from 0.89 in 2016Q1. The ratio dived, as 41 funds sold all Apache Corporation shares owned while 258 reduced positions. 67 funds bought stakes while 196 increased positions. They now own 328.59 million shares or 6.46% less from 351.30 million shares in 2016Q1.
Webster Savings Bank N A has 21,563 shares for 0.18% of their US portfolio. Tradewinds Mngmt Ltd Llc last reported 0% of its portfolio in the stock. Auxier Asset Management holds 0.12% or 9,501 shares in its portfolio. Trust Department Mb State Bank N A accumulated 0.03% or 3,807 shares. Envestnet Asset Management Inc, a Illinois-based fund reported 82,454 shares. Uss Investment Mngmt Limited last reported 1.38 million shares in the company. Hightower Advisors Ltd Liability owns 21,283 shares or 0.01% of their US portfolio. Gulf Bancorp (Uk) Ltd holds 113,111 shares or 0.11% of its portfolio. Dubuque Retail Bank And Tru holds 0% or 25 shares in its portfolio. Wheatland Advsr Inc accumulated 8,104 shares or 0.43% of the stock. Sirios Management Limited Partnership holds 117,787 shares or 0.31% of its portfolio. Virginia Retirement Et Al reported 158,200 shares or 0.13% of all its holdings. Thompson Siegel Walmsley Limited Co accumulated 400 shares or 0% of the stock. Public Sector Pension Board, a Quebec – Canada-based fund reported 71,756 shares. Arrow Fincl Corporation accumulated 0.38% or 25,879 shares.

Insider Transactions: Since September 22, 2016, the stock had 0 buys, and 1 sale for $204,521 net activity. 3,356 shares were sold by Hoyt Rebecca A, worth $204,521 on Thursday, September 22.

Apache Corporation is an independent energy company. The company has a market cap of $24.60 billion. Both domestically and internationally, the Company explores for, develops and produces crude oil, natural gas and natural gas liquids. It currently has negative earnings. The Firm has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).

APA Company Profile

Apache Corporation (Apache), incorporated on December 6, 1954, is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces crude oil, natural gas and natural gas liquids. The Firm has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea). Apache also pursues exploration interests in other countries.

More notable recent Apache Corporation (NYSE:APA) news were published by: Fool.com which released: “Better Buy: Apache Corp. vs. Marathon Oil Corporation” on October 05, 2016, also Fool.com with their article: “Apache Corporation’s Biggest Win in 2016 So Far” published on September 28, 2016, Fool.com published: “Better Buy: Apache Corp. vs. Anadarko Petroleum Corporation” on September 19, 2016. More interesting news about Apache Corporation (NYSE:APA) were released by: Fool.com and their article: “Apache Corporation Just Unveiled a Monster New Oil Discovery” published on September 07, 2016 as well as Fool.com‘s news article titled: “Forget Apache Corporation: Here Are 3 Better Dividend Stocks” with publication date: September 15, 2016.

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