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Apache trades up on report of buyout offer
Posted On Nov 10 2015
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The company posted a net loss of about $5.7 million for the third quarter, compared to a loss of almost 1.3 million during the same period a year ago, Bloomberg reported. The business’s revenue for the quarter was down 56.5% compared to the same quarter a year ago.
Laredo Petroleum (NYSE:LPI), which also has assets in the Permian Basin, and Oasis Petroleum (NYSE:OAS), which has assets in the Bakken Formation, are also potential buy-out candidates, according to analysts earlier this year.
Apache (NYSE:APA) opened at 53.19 on Monday. The 1-year stock price history is in the range of $35.79 – $77.57.
Apache Corp (APA) current short interest stands at 12.49 million shares.
The firm has a 50 day moving average of $44.06 and a 200-day moving average of $51.41. Shareholders of record on Thursday, October 22nd will be given a dividend of $0.25 per share.
Noble shares advanced 1.2% to 37.22.
APA has been the subject of a number of research analyst reports. As of Friday, Houston-based Apache’s share price is down more than 50% from its peak in early 2014. The mean target price is $54.07 according to First Call. RBC Capital now has an outperform rating on the stock.
Apache Corporation (NYSE:APA): 17 analysts have set the short term price target of Apache Corporation (NYSE:APA) at $59.53. The rating by the firm was issued on September 14, 2015. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Apache has an average rating of “Hold” and an average price target of $61.16. On the date of report, the stock closed at $40.02. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. Also, Director William C. Montgomery bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. A total of 1,115 shares were purchased at an average price of $42. The financial services giant is the official financial advisor for the company.
