Friday, September 25, 2020

why Apache Corporation [APA] is a Good Choice for Investors After New Price Target of $17.13

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Apache Corporation [NASDAQ: APA] gained 1.46% or 0.21 points to close at $14.60 with a heavy trading volume of 6927818 shares. The company report on August 17, 2020 that Apache Corporation Announces Upsizing and Early Results of Cash Tender Offers for Senior Notes.

Apache Corporation (Nasdaq: APA) today announced that it has amended its previously announced cash tender offers (each, an “Offer” and, collectively, the “Offers”) to purchase a portion of its 3.625% notes due 2021, 2.625% notes due 2023, 3.250% notes due 2022, 4.250% notes due 2044, 4.750% notes due 2043, 5.100% notes due 2040, and 5.250% notes due 2042 (each series, a “Series of Notes,” and such notes, collectively, the “Notes”) made pursuant to Apache’s Offer to Purchase, dated August 3, 2020 (the “Offer to Purchase”) to increase the Aggregate Maximum Purchase Price (as defined in the Offer to Purchase) from $460,000,000 to $638,198,120 and to eliminate the Maximum Tender SubCaps (as defined in the Offer to Purchase). All other terms and conditions of the Offers set forth in the Offer to Purchase remain unchanged. As a result, Apache will accept all Notes tendered as of 5:00 p.m., New York City time, on August 14, 2020 (the “Early Tender Deadline”).

According to information received from D.F. King & Co., Inc., the Tender Agent and Information Agent for the Offers, as of the Early Tender Deadline, Apache had received valid tenders from holders of Notes that were not validly withdrawn as set forth in the table below under the heading “Principal Amount Tendered.”.

It opened the trading session at $14.52, the shares rose to $14.885 and dropped to $14.13, the range by which the price of stock traded the whole day. The daily chart for APA points out that the company has recorded 52.88% gains over the past six months. However, it is still -284.21% lower than its most recent low trading price.

If we look at the average trading volume of 10.77M shares, APA reached to a volume of 6927818 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Apache Corporation [APA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APA shares is $17.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APA stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Apache Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 27, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on August 05, 2020, representing the official price target for Apache Corporation stock. Previously, the target price had yet another raise from $13 to $18, while Stifel kept a Buy rating on APA stock.

The Average True Range (ATR) for Apache Corporation is set at 0.71, with the Price to Sales ratio for APA stock in the period of the last 12 months amounting to 1.05. Price to Free Cash Flow for APA in the course of the last twelve months was 3.20 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for APA stock

Apache Corporation [APA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.96. With this latest performance, APA shares dropped by -6.41% in over the last four-week period, additionally plugging by 52.88% over the last 6 months – not to mention a drop of -34.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APA stock in for the last two-week period is set at 50.57, with the RSI for the last a single of trading hit 47.01, and the three-weeks RSI is set at 50.02 for Apache Corporation [APA]. The present Moving Average for the last 50 days of trading for this stock 14.39, while it was recorded at 14.63 for the last single week of trading, and 17.06 for the last 200 days.

Apache Corporation [APA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Apache Corporation [APA] shares currently have an operating margin of +5.65 and a Gross Margin at +15.36. Apache Corporation’s Net Margin is presently recorded at -56.26.

Return on Total Capital for APA is now 2.31, given the latest momentum, and Return on Invested Capital for the company is -26.13. Return on Equity for this stock declined to -68.43, with Return on Assets sitting at -17.90. When it comes to the capital structure of this company, Apache Corporation [APA] has a Total Debt to Total Equity ratio set at 274.41. Additionally, APA Total Debt to Total Capital is recorded at 73.29, with Total Debt to Total Assets ending up at 49.33. Long-Term Debt to Equity for the company is recorded at 268.88, with the Long-Term Debt to Total Capital now at 71.81.

Reflecting on the efficiency of the workforce at the company, Apache Corporation [APA] managed to generate an average of -$1,123,301 per employee. Receivables Turnover for the company is 5.60 with a Total Asset Turnover recorded at a value of 0.32.Apache Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.

Apache Corporation [APA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Apache Corporation posted -0.29/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -52.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APA.

An analysis of insider ownership at Apache Corporation [APA]

There are presently around $4,652 million, or 88.80% of APA stock, in the hands of institutional investors. The top three institutional holders of APA stocks are: DODGE & COX with ownership of 54,275,112, which is approximately -0.852% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 43,803,337 shares of the stock with an approximate value of $639.53 million in APA stocks shares; and BLACKROCK INC., currently with $348.53 million in APA stock with ownership of nearly -5.704% of the company’s market capitalization.

Positions in Apache Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 209 institutional holders increased their position in Apache Corporation [NASDAQ:APA] by around 39,329,361 shares. Additionally, 295 investors decreased positions by around 70,233,245 shares, while 81 investors held positions by with 209,063,846 shares. The mentioned changes placed institutional holdings at 318,626,452 shares, according to the latest SEC report filing. APA stock had 77 new institutional investments in for a total of 6,939,381 shares, while 104 institutional investors sold positions of 33,318,791 shares during the same period.

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