Apache Corporation (APA) Releases Earnings Results, Beats Expectations By $0.48 EPS

Apache Corporation (APA) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-0.40 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.48. Analysts had a consensus of $-0.88. Analysts expectations of $1099.99 million. During the same quarter in the previous year, the company posted $-0.37 EPS.

Many Wall Street Analysts have commented on Apache Corporation. Apache Corporation was Upgraded by Wells Fargo to ” Outperform” on Apr 8, 2016. Company shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Hold”, Firm has raised the Price Target to $ 53 from a previous price target of $50 .Apache Corporation was Downgraded by CapitalOne to ” Equal Weight” on Mar 23, 2016.

Apache Corporation closed down -1.4 points or -2.69% at $50.73 with 44,80,381 shares getting traded on Wednesday. Post opening the session at $52.25, the shares hit an intraday low of $50.08 and an intraday high of $52.73 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 31, 2015, Margery M Harris (Exec. Vice President) purchased 1,115 shares at $42.00 per share price. According to the SEC, on Aug 27, 2015, Stephen J Riney (CFO) purchased 6,000 shares at $39.54 per share price. On Aug 27, 2015, W Kregg Olson (Exec. Vice President) purchased 2,500 shares at $39.50 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.

Apache Corporation

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