What’s Ahead for Apache Corporation After Today’s Bullish Options Activity?

 What's Ahead for Apache Corporation After Today's Bullish Options Activity?

In today’s session Apache Corporation (APA) registered an unusually high (218) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious APA increase. With 218 contracts traded and 444 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: APA161118C00064000 closed last at: $1 or 24.2% down. About 779,151 shares traded hands. Apache Corporation (NYSE:APA) has risen 22.29% since March 30, 2016 and is uptrending. It has outperformed by 19.27% 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 $7.43M for 738.88 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. Apache Corporation has been the topic of 50 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Apache Corporation (NYSE:APA) earned “Sector Perform” rating by iBERIA Capital Partners on Thursday, May 26. As per Monday, May 16, the company rating was upgraded by Howard Weil. The firm has “Neutral” rating given on Friday, August 5 by UBS. Citigroup maintained Apache Corporation (NYSE:APA) on Friday, September 9 with “Neutral” rating. On Tuesday, March 29 the stock rating was maintained by Deutsche Bank with “Hold”. As per Thursday, September 1, the company rating was maintained by Barclays Capital. Zacks downgraded the stock to “Buy” rating in Monday, August 10 report. Citigroup maintained it with “Buy” rating and $55 target price in Thursday, April 7 report. Argus Research maintained the stock with “Buy” rating in Tuesday, September 15 report. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, November 6 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 is negative, 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.
Riverpoint Mgmt Limited Liability Company, a Ohio-based fund reported 3,613 shares. Delta Mgmt Lc holds 1.46% or 34,256 shares in its portfolio. Tradewinds Capital Management Limited Com last reported 0% of its portfolio in the stock. Spears Abacus Advsr Limited reported 10,100 shares or 0.07% of all its holdings. Texas Permanent School Fund has invested 0.09% of its portfolio in Apache Corporation (NYSE:APA). Rhumbline Advisers holds 579,986 shares or 0.1% of its portfolio. Wheatland reported 8,104 shares or 0.43% of all its holdings. Mitchell Mcleod Pugh & Williams accumulated 3,837 shares or 0.19% of the stock. Jolley Asset Mgmt Ltd Liability Co reported 50 shares or 0% of all its holdings. Newgate Cap Lc holds 0.47% or 10,239 shares in its portfolio. Moreover, Park Corporation Oh has 0.02% invested in Apache Corporation (NYSE:APA) for 5,593 shares. Hartford Inv Mgmt holds 89,960 shares or 0.11% of its portfolio. Moreover, Private Advisor Ltd has 0.01% invested in Apache Corporation (NYSE:APA) for 6,261 shares. Carret Asset Mngmt Limited Company holds 0.14% of its portfolio in Apache Corporation (NYSE:APA) for 13,344 shares. Jane Street Group Incorporated Ltd Company accumulated 26,653 shares or 0.01% of the stock.

Insider Transactions: Since September 22, 2016, the stock had 0 buys, and 1 sale for $204,521 net activity. Another trade for 3,356 shares valued at $204,521 was made by Hoyt Rebecca A on Thursday, September 22.

Apache Corporation is an independent energy company. The company has a market cap of $21.97 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: Forbes.com which released: “Apache Corp.: Going The Extra Mile With The Alpine High” on October 17, 2016, also Prnewswire.com with their article: “Apache Corporation To Release Third-Quarter 2016 Results Nov. 3” published on October 20, 2016, Fool.com published: “Better Buy: Apache Corp. vs. Marathon Oil Corporation” on October 05, 2016. More interesting news about Apache Corporation (NYSE:APA) were released by: Seekingalpha.com and their article: “Apache Corporation – Huge Potential For This American Oil Producer” published on October 24, 2016 as well as Mondaq.com‘s news article titled: “Apache Corporation: Fifth Circuit Holds That Commercial Crime Policy’s …” with publication date: November 01, 2016.

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