Why Apache Corporation (APA) Stock Could See Much Higher Prices Ahead

Apache Corporation (NASDAQ: APA) is -42.95% lower on its value in year-to-date trading and has touched a low of $3.80 and a high of $33.77 in the current 52-week trading range. The APA stock was last observed hovering at around $14.08 in the last trading session, with the day’s gains setting it 0.52% off its average median price target of $17.00 for the next 12 months. It is also 43.85% off the consensus price target high of $26.00 offered by 31 analysts, but current levels are -32.73% lower than the price target low of $11.00 for the same period.

Currently trading at $14.60, the stock is -4.92% and 2.23% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.32 million and changing 3.69% at the moment leaves the stock -15.91% off its SMA200. APA registered -32.50% loss for a year compared to 6-month loss of -41.41%. The firm has a 50-day simple moving average (SMA 50) of $14.56 and a 200-day simple moving average (SMA200) of $13.67.

The stock witnessed a 6.96% gain in the last 1 month and extending the period to 3 months gives it a 35.31%, and is -0.95% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.69% over the week and 4.46% over the month.

Apache Corporation (APA) has around 3163 employees, a market worth around $5.70B and $5.16B in sales. Distance from 52-week low is 284.21% and -56.77% from its 52-week high. The company has generated returns on investments over the last 12 months (-28.30%).

Apache Corporation (APA) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Apache Corporation (APA) is a “Overweight”. 31 analysts offering their recommendations for the stock have an average rating of 2.60, where 20 rate it as a Hold and 2 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Apache Corporation is expected to release its quarterly report on 10/29/2020 and quarterly earnings per share for the current quarter are estimated at -$0.38 with sales reaching $945.89M over the same period., but quarterly earnings will post -38.70% year-over-year. Quarterly sales are estimated to shrink -36.00% in year-over-year returns.

Apache Corporation (APA) Top Institutional Holders

767 institutions hold shares in Apache Corporation (APA), with 1.73M shares held by insiders accounting for 0.46% while institutional investors hold 100.41% of the company’s shares. The shares outstanding are 378.00M, and float is at 376.48M with Short Float at 3.81%. Institutions hold 99.95% of the Float.

The top institutional shareholder in the company is Dodge & Cox Inc with over 54.28 million shares valued at $732.71 million. The investor’s holdings represent 14.38% of the APA Shares outstanding. As of Jun 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 43.8 million shares valued at $591.35 million to account for 11.61% of the shares outstanding. The other top investors are Blackrock Inc. which holds 23.87 million shares representing 6.32% and valued at over $322.27 million, while State Street Corporation holds 5.91% of the shares totaling 22.29 million with a market value of $300.92 million.

Apache Corporation (APA) Insider Activity

A total of 9 insider transactions have happened at Apache Corporation (APA) in the last six months, with sales accounting for 4 and purchases happening 5 times. The most recent transaction is an insider purchase by LANNIE P ANTHONY, the company’s Exec. Vice Pres & Gen Counsel. SEC filings show that LANNIE P ANTHONY bought 32,942 shares of the company’s common stock on Apr 06 at a price of $5.69 per share for a total of $0.19 million. Following the purchase, the insider now owns 0.16 million shares.

Apache Corporation (APA): Who are the competitors?

The company’s main competitors (and peers) include EOG Resources Inc. (EOG) that is trading -38.03% down over the past 12 months. Chevron Corporation (CVX) is -27.32% down on the 1-year trading charts. Short interest in the company’s stock has fallen -33.26% from the last report on Jul 14, 2020 to stand at a total of 17.79 million short shares sold with a short interest ratio of 1.39.