Apache Corporation (APA) : The total negative money flow of $2.08 million on Tuesday indicates selling on strength. The inflow of money on upticks was $9.51 million, compared to $11.59 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.82. The negative money flow of $0 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $0.1 million. The price action in the Apache Corporation (APA) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $53.04 with a gain of $0.21 , a change of 0.4% over the previous days close. The stock registered 1.32% for the week.
Also, In the latest statement by the brokerage house, Citigroup downgrades its outlook on Apache Corporation (NYSE:APA). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Buy. The brokerage firm lowers the price target from $55 per share to $53 per share. The rating by the firm was issued on August 9, 2016.
Apache Corp. has dropped 1.8% in the last five trading days, however, the shares have posted positive gains of 5.13% in the last 4 weeks. Apache Corp. has dropped 6.23% during the last 3-month period . Year-to-Date the stock performance stands at 19.85%.
Apache Corporation (NYSE:APA): The stock opened at $53.10 on Tuesday but the bulls could not build on the opening and the stock topped out at $53.83 for the day. The stock traded down to $52.15 during the day, due to lack of any buying support eventually closed down at $52.43 with a loss of -0.76% for the day. The stock had closed at $52.83 on the previous day. The total traded volume was 1,560,592 shares.
In a related news, Harris Margery M, officer (Exec. Vice President) of Apache Corp had purchased 1,115 shares on August 27, 2015 in a transaction. The price per share was $42 and the total amount of the disclosed transaction was $46,830.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
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 1,478 gross wells, with 1,407 (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 Companys 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.