What’s Apache Corporation Upside After Today’s Bullish Options Activity?

 What's Apache Corporation Upside After Today's Bullish Options Activity?

In today’s session Apache Corporation (APA) registered an unusually high (870) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious APA increase. With 870 contracts traded and 944 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: APA161216C00064000 closed last at: $1.41 or 26.6% down. About 1.15 million shares traded hands. Apache Corporation (NYSE:APA) has risen 5.56% since April 27, 2016 and is uptrending. It has outperformed by 0.33% the S&P500.

Analysts await Apache Corporation (NYSE:APA) to report earnings on February, 23. They expect $0.14 earnings per share, up 333.33% or $0.20 from last year’s $-0.06 per share. APA’s profit will be $52.59 million for 116.43 P/E if the $0.14 EPS becomes a reality. After $-0.03 actual earnings per share reported by Apache Corporation for the previous quarter, Wall Street now forecasts -566.67% 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 -16.53% below today’s ($65.2) stock price. Apache Corporation has been the topic of 50 analyst reports since July 21, 2015 according to StockzIntelligence Inc. S&P Research maintained the shares of APA in a report on Friday, August 7 with “Buy” rating. As per Tuesday, August 9, the company rating was downgraded by Citigroup. The stock of Apache Corporation (NYSE:APA) earned “Equal-Weight” rating by Barclays Capital on Tuesday, September 13. RBC Capital Markets maintained Apache Corporation (NYSE:APA) on Friday, May 6 with “Sector Perform” rating. The stock of Apache Corporation (NYSE:APA) has “Buy” rating given on Monday, September 14 by Citigroup. The rating was maintained by Credit Suisse with “Neutral” on Friday, August 7. The firm has “Outperform” rating given on Friday, November 6 by RBC Capital Markets. The rating was initiated by Mitsubishi UFG on Monday, September 26 with “Neutral”. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, March 18. The stock has “Market Perform” rating given by BMO Capital Markets on Friday, September 4.

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 increased to 0.95 in 2016 Q2. Its up 0.07, from 0.88 in 2016Q1. The ratio is positive, 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.
Menta Capital Ltd Liability holds 0.08% or 9,821 shares in its portfolio. Essex Fincl Svcs holds 0.07% or 5,134 shares in its portfolio. Arbiter Prtn Management Lc holds 5,000 shares or 0.04% of its portfolio. Jolley Asset Management Ltd Liability Corp reported 50 shares or 0% of all its holdings. Foyston Gordon And Payne Inc holds 187,662 shares or 1.9% of its portfolio. The Texas-based Penn Davis Mcfarland has invested 0.31% in Apache Corporation (NYSE:APA). Birch Hill Investment Advisors Limited Liability Corporation last reported 6,455 shares in the company. Comerica Bancshares holds 0.06% of its portfolio in Apache Corporation (NYSE:APA) for 131,154 shares. Westport Resources Mngmt holds 550 shares or 0.01% of its portfolio. Ladenburg Thalmann Svcs accumulated 10,569 shares or 0.01% of the stock. Van Den Berg I Inc has 314,406 shares for 2.25% of their US portfolio. Northern Tru last reported 0.09% of its portfolio in the stock. High Pointe Capital Ltd Com last reported 1.33% of its portfolio in the stock. The Tennessee-based Delta Asset Mngmt Lc Tn has invested 2.52% in Apache Corporation (NYSE:APA). Prentiss Smith Company, a Vermont-based fund reported 37 shares.

Insider Transactions: Since September 22, 2016, the stock had 2 buys, and 2 sales for $281,666 net activity. House James L sold $507,000 worth of stock. $870,279 worth of Apache Corporation (NYSE:APA) was bought by Joung Chansoo on Wednesday, November 9. Another trade for 3,356 shares valued at $204,521 was made by Hoyt Rebecca A on Thursday, September 22. 2,132 shares were bought by LOWE JOHN E, worth $122,908.

Apache Corporation is an independent energy company. The company has a market cap of $24.49 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.

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