Macquarie Downgrades Apache Corporation to Underperform

Brokerage firm Macquarie Downgrades its rating on Apache Corporation(APA). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Macquarie was issued on Feb 3, 2017.

In a different note, On Dec 16, 2016, Wells Fargo said it Downgrades its rating on Apache Corporation. The shares have been rated ‘Market Perform’ by the firm.

Apache Corporation (APA) shares turned negative on Tuesdays trading session with the shares closing down -0.84 points or -1.45% at a volume of 46,86,799. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $57.59. The peak price level was also seen at $57.59 while the days lowest was $55.75. Finally the shares closed at $57.03. The 52-week high of the shares is $69 while the 52-week low is $33.23. According to the latest information available, the market cap of the company is $21,639 M.

Apache Corporation(APA) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.38B. Analysts had an estimated revenue of $1.32B. Earnings per share were $-0.26. Analysts had estimated an EPS of $-0.15.

Several Insider Transactions has been reported to the SEC. On Nov 28, 2016, James L House (Sr. Region Vice President) sold 8,000 shares at $63.38 per share price.Also, On Nov 9, 2016, Chansoo Joung (Director) purchased 15,000 shares at $58.02 per share price.On Nov 9, 2016, John E Lowe (director) purchased 2,132 shares at $57.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Apache Corporation (Apache) is an independent energy company which explores for develops and produces natural gas crude oil and natural gas liquids. As of December 31 2014 Apache had exploration and production interests in five countries: the United States Canada Egypt Australia and the United Kingdom. During the year ended December 31 2014 it participated in drilling 1478 gross wells with 1407 (95%) completed as producers. As of December 31 2013 in addition to its completed wells several wells had not reached completion: 318 gross (214.7 net) in the United States; 27 gross (19.0 net) in Canada; 35 gross (32.5 net) in Egypt and 3 gross (2.2 net) in the North Sea. The Company’s operations in United States and Canada are constituted under its North America business while its International business constitutes its operations in Egypt Australia and the United Kingdom in the North Sea.

Share this post

Leave a Reply