Stocks Under Consideration: Noble Energy, Inc. (NBL), Apache Corp. (APA), Valley National Bancorp (VLY)

Noble Energy, Inc. (NBL) grew with the stock adding 0.41% or $0.15 to close at $36.8 on light trading volume of 1.9M compared its three months average trading volume of 3.81M. The Houston Texas 77070 based company operating under the Independent Oil & Gas industry has been trending down for the last 52 weeks, with the shares price now -2.56% down for the period and up by 12.42% so far this year. With price target of $43.3 and a 55.74% rebound from 52-week low, Noble Energy, Inc. has plenty of upside potential, making it a hold with a view buy.

Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, and production of crude oil, natural gas, and natural gas liquids worldwide. Its principal projects are located in DJ Basin, Marcellus Shale, Eagle Ford Shale, and Permian Basin, the United States; deepwater Gulf of Mexico; offshore Eastern Mediterranean; and offshore West Africa. As of December 31, 2015, the company had approximately 1,421 million barrels oil equivalent of total proved reserves. Noble Energy, Inc. was founded in 1932 and is headquartered in Houston, Texas.

Apache Corp. (APA) had a light trading with around 2.63M shares changing hands compared to its three month average trading volume of 3.69M. The stock traded between $56.7 and $57.64 before closing at the price of $57.12 with 0.42% change on the day. The Houston Texas 77056 based company is currently trading 78.2% above its 52 week low of $32.2 and -4.14% below its 52 week high of $59.59. Both the RSI indicator and target price of  and $56.58 respectively, lead us to believe that it could rise over the coming weeks.

Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, the Texas Panhandle, and Gulf Coast areas of the United States, as well as in Western Canada and Gulf of Mexico. The company also operates assets in Egypt and the United Kingdom in the North Sea. As of December 31, 2015, it had total estimated proved reserves of 794 million barrels of crude oil, 198 million barrels of natural gas liquids, and 3.4 trillion cubic feet of natural gas. Apache Corporation was founded in 1954 and is based in Houston, Texas.

Valley National Bancorp (VLY) saw its value increase by 0.42% as the stock gained $0.04 to finish the day at a closing price of $9.47. The stock was lighter in trading and has fluctuated between $8.31-$11.24 per share for the past year. The shares, which traded within a range of $9.4 to $9.53 during the day, are down by -2.71% in the past three months and up by 9.67% over the past six months. It is currently trading 4.62% above its 20 day moving average and 3.87% above its 50 day moving average. Analysts believe the company can continue to increase in value to reach at $9.88 a share over the next twelve months. The current relative strength index (RSI) reading is 62.13.The technical indicator lead us to believe there will be no major movement any time soon, hold.

Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit. The company’s loan products comprise construction, residential mortgage, home equity, automobile, and floating rate and adjustable rate commercial and industrial loans, as well as fixed rate owner occupied and commercial real estate loans, credit card loans, personal lines of credit, personal loans, and loans secured by cash surrender value of life insurance. It also invests in securities, such as fixed rate investments, federal funds, and interest-bearing deposits with banks; and offers international banking services, such as standby letters of credit, documentary letters of credit and related products, and other ancillary services. In addition, the company provides asset management advisory, trust, and asset-based lending support services; property and casualty, life, health, and title insurance; and health care equipment and other commercial equipment leases, as well as general aviation aircraft loans and commercial equipment leases, and real estate related investments. Further, it offers other banking services comprising automated teller machine, telephone and Internet banking, remote deposit capturing, overdraft, drive-in and night deposit, and safe deposit services. As of December 31, 2015, it operated 227 branches in northern and central New Jersey; the New York City boroughs of Manhattan, Brooklyn, Queens, and Long Island; and southeast and central Florida. The company was founded in 1927 and is headquartered in Wayne, New Jersey.

Stocks Trend Analysis: NiSource (NI), Apache (APA), Chubb (CB)

Apache Corp. (APA) managed to rebound with the stock climbing 0.6% or $0.34 to close the day at $56.88 on light trading volume of 1.95M shares, compared to its three month average trading volume of 3.7M. The Houston Texas 77056 based company has been outperforming the independent oil & gas group over the past 52 weeks, with the stock gaining 8.76%, compared to the industry which has dropped -6.66% over the same period. With RSI of 54.92, the stock should still continue to rise and get closer to its one year target estimate of $56.58, making it a hold for now.

Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, the Texas Panhandle, and Gulf Coast areas of the United States, as well as in Western Canada and Gulf of Mexico. The company also operates assets in Egypt and the United Kingdom in the North Sea. As of December 31, 2015, it had total estimated proved reserves of 794 million barrels of crude oil, 198 million barrels of natural gas liquids, and 3.4 trillion cubic feet of natural gas. Apache Corporation was founded in 1954 and is based in Houston, Texas.

Chubb Limited (CB) grew with the stock adding 0.31% or $0.4 to close at $129.9 on active trading volume of 1.94M compared its three months average trading volume of 1.51M. The Zurich Zurich 8001 based company operating under the Property & Casualty Insurance industry has been trending up for the last 52 weeks, with the shares price now 25.88% up for the period and up by 11.8% so far this year. With price target of $133.39 and a 36.08% rebound from 52-week low, Chubb Limited has plenty of upside potential, making it a hold with a view buy.

Chubb Limited provides property and casualty insurance and reinsurance products worldwide. The company’s Insurance – North American P&C segment offers casualty insurance, environmental, inland marine, professional risk, disaster protection, vacant land and building, and claims and risk management services; homeowners, automobile, valuables, umbrella liability, and recreational marine insurance; and wholesale excess and surplus lines property, casualty, environmental, professional liability, and product recall coverages. Its Insurance – North American Agriculture segment provides comprehensive multiple peril crop insurance and crop-hail insurance; and farm and ranch coverages, as well as specialty P&C coverages for companies that manufacture, process, and distribute agriculture products. The company’s Insurance – Overseas General segment offers traditional commercial fire coverage, as well as energy industry-related, marine, construction, and other technical products; commercial primary and excess casualty, environmental, and general liability; and specialty coverages include D&O, professional indemnity, energy, aviation, political risk, and specialty personal lines products, as well as personal accident and supplemental medical products. Its Global Reinsurance segment markets reinsurance products; and provides solutions for small to mid-sized clients and multinational ceding companies, including licensed reinsurance capabilities, property and workers’ compensation catastrophe, loss-warranty, stop-loss cover, marine, and aviation programs. The company’s Life segment offers protection and savings products comprising whole life, endowment plans, individual term life, group term life, group medical, personal accident, credit life, universal life, and unit linked contracts. The company was formerly known as ACE Limited and changed its name to Chubb Limited in January 2016. The company was founded in 1985 and is headquartered in Zurich, Switzerland.

NiSource Inc. (NI) failed to extend gains with the stock declining -0.19% or $-0.05 to close the day at $26.01 on lower than average trading volume of 1.94M shares, compared to its three month average trading volume of 3M. The Merrillville Indiana 46410 based company has been outperforming the diversified utilities companies by 11.714% for last three months and its recent gains have pushed the stock slightly up 35.23% YTD, versus the diversified utilities industry which is up 24.23% for the same period. The RSI of 57.6 indicates the stock is neither overvalued nor undervalued at the current levels, hold for now.

NiSource Inc., an energy holding company, provides natural gas, electricity, and other products and services in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and provides wholesale and transmission transaction services. It serves approximately 3.4 million natural gas customers and 463,000 electric customers in in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana, and Massachusetts. The company also owns and operates 3 coal-fired electric generating stations with a net capability of 2,540 megawatts (MW), 3 gas-fired generating units with a net capability of 196 MW, and 2 hydroelectric generating plants with a net capability of 10 MW, as well as a combined cycle gas turbine plant with a capacity of 535 MW. The company was formerly known as NIPSCO Industries, Inc. and changed its name to NiSource Inc. in April 1999. NiSource Inc. was founded in 1912 and is headquartered in Merrillville, Indiana.

Stocks Trend Analysis: Cobalt International (CIE), Apache (APA) Starbucks (SBUX)

Apache Corp. (APA) failed to extend gains with the stock declining -1.74% or $-1 to close the day at $56.54 on light trading volume of 2.7M shares, compared to its three month average trading volume of 3.7M. The Houston Texas 77056 based company has been outperforming the independent oil & gas group over the past 52 weeks, with the stock gaining 6.3%, compared to the industry which has dropped -9.04% over the same period. With RSI of 54.6, the stock should still continue to rise and get closer to its one year target estimate of $56.58, making it a hold for now.

Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, the Texas Panhandle, and Gulf Coast areas of the United States, as well as in Western Canada and Gulf of Mexico. The company also operates assets in Egypt and the United Kingdom in the North Sea. As of December 31, 2015, it had total estimated proved reserves of 794 million barrels of crude oil, 198 million barrels of natural gas liquids, and 3.4 trillion cubic feet of natural gas. Apache Corporation was founded in 1954 and is based in Houston, Texas.

Starbucks Corporation (SBUX) retreated with the stock falling -1.74% or $-1 to close at $56.48 on light trading volume of 12.18M compared its three months average trading volume of 8.76M. The Seattle Washington 98134 based company operating under the Specialty Eateries industry has been trending up for the last 52 weeks, with the shares price now 2.61% up for the period and down by -5.28% so far this year. With price target of $67.92 and a 35.66% rebound from 52-week low, Starbucks Corporation has plenty of upside potential, making it a hold with a view buy.

Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; and Channel Development. Its stores offer coffee and tea beverages, packaged roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, juices, and bottled water. The company’s stores also provide fresh food and snack offerings; and various food products, such as pastries, and breakfast sandwiches and lunch items, as well as serve ware, beverage-making equipment, and accessories. In addition, it licenses its trademarks through licensed stores, and grocery and national foodservice accounts. The company offers its products under the Starbucks, Teavana, Tazo, Seattle’s Best Coffee, Evolution Fresh, La Boulange, Ethos, Starbucks VIA, Seattle’s Best Coffee, Frappuccino, Starbucks Doubleshot, Starbucks Refreshers, and Starbucks Discoveries Iced Café Favorites brand names. As of March 27, 2016, it operated 23,921 cafes. Starbucks Corporation was founded in 1985 and is based in Seattle, Washington.

Cobalt International Energy, Inc. (CIE) failed to extend gains with the stock declining -1.74% or $-0.03 to close the day at $1.69 on higher than average trading volume of 7.79M shares, compared to its three month average trading volume of 5.15M. The Houston Texas 77024 based company has been outperforming the independent oil & gas companies by -44.3166% for last three months and its recent losses have pulled the stock down -68.7% YTD, versus the independent oil & gas industry which is up 20.93% for the same period. The RSI of 47.6 indicates the stock is neither overvalued nor undervalued at the current levels, hold for now.

Cobalt International Energy, Inc., through its subsidiaries, operates as an oil and gas exploration and production company primarily in the deepwater U.S. Gulf of Mexico. The company holds interests in the North Platte, Shenandoah, Anchor, and Heidelberg fields located in the U.S. Gulf of Mexico; and the Diaba block located offshore Gabon. As of December 31, 2015, it had net proved undeveloped reserves of 5.6 million barrels (MMBbls) of oil; 0.3 MMBbls of natural gas liquids; and 1.8 billion cubic feet of natural gas. The company was founded in 2005 and is based in Houston, Texas.

Trader Alert: Apache Corp. (APA), Jabil Circuit Inc. (JBL), Newfield Exploration Co. (NFX)

Apache Corp. (APA) grew with the stock adding 4.41% or $2.43 to close at $57.54 on light trading volume of 2.95M compared its three months average trading volume of 3.72M. The Houston Texas 77056 based company operating under the Independent Oil & Gas industry has been trending up for the last 52 weeks, with the shares price now 10.47% up for the period and up by 30.93% so far this year. With price target of $56.58 and a 79.51% rebound from 52-week low, Apache Corp. has plenty of upside potential, making it a hold with a view buy.

Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, the Texas Panhandle, and Gulf Coast areas of the United States, as well as in Western Canada and Gulf of Mexico. The company also operates assets in Egypt and the United Kingdom in the North Sea. As of December 31, 2015, it had total estimated proved reserves of 794 million barrels of crude oil, 198 million barrels of natural gas liquids, and 3.4 trillion cubic feet of natural gas. Apache Corporation was founded in 1954 and is based in Houston, Texas.

Jabil Circuit Inc. (JBL) gained $0.36 to close the day at a new closing price of $19.26, a 1.9% increase in value from its previous closing price that moved the stock 15.35% above its 52 week low of $16.78. A total of 2.93M shares exchanged hands during the day compared with its three month average trading volume of 2.56M. The stock, which fluctuated between $19 and $19.33 during the day, currently situated -25.27% below its 52 week high. The stock is up by 2.12% in the past one month and up by 8.22% over the past three months. With a one year target estimate of $20.5 and RSI of 59.31, the stock still has upside potential, making it a hold for now.

Jabil Circuit Inc., together with its subsidiaries, provides electronic manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services to companies in the automotive, consumer lifestyles and wearable technologies, defense and aerospace, digital home, emerging growth, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing and storage industries. The company’s services include integrated design and engineering; component selection, sourcing, and procurement; automated assembly; design and implementation of product testing; parallel global production; enclosure services; systems assembly, direct order fulfillment, and configure to order; and injection molding, metal, plastics, precision machining, and automation services. Jabil Circuit Inc. was founded in 1966 and is headquartered in St. Petersburg, Florida.

Newfield Exploration Co. (NFX) shares were up in last trading by 3.39% to $45.16. It experienced lighter than average volume on day. The stock increased in value by almost 4.39% over the past week and grew 13.3% in the past month. It is currently trading 12.07% above its 50 day moving average and 29.31% above its 200 day moving average. Following the recent increase in price, the stock’s new closing price represents a 0.83% increase in value from its one year high of $45.61. The RSI indicator value of 64.65, lead us to believe that it is a hold for now.

Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. Its principal areas of operation include the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah, and the Maverick and Gulf Coast basins of Texas. The company also holds offshore oil developments in China. As of December 31, 2015, it had proved reserves of approximately 509 million barrels of oil equivalent. The company was founded in 1988 and is headquartered in The Woodlands, Texas.

Active Stocks in the Spotlight: Swift Transportation Co (NYSE:SWFT), Apache Corporation (NYSE:APA), Santander Consumer USA Holdings Inc (NYSE:SC)

Swift Transportation Co (NYSE:SWFT) climbed 2.27% during last trading as the stock added $0.35 to finish the day at $15.76 with about 2.60M shares changing hands, compared to its three month average trading volume of 2.61M. The $ 2.18B market cap company, which fluctuated between $15.59 and $15.98 during the day, currently situated 34.24% above its 52 week low of $11.74 and -36.35% away from its one year high of $24.76. The RSI of 49.86 indicates the stock is overbought at the current levels, sell for now. Swift Transportation Company (Swift Transportation Co.) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal.

Apache Corporation (NYSE:APA) gained $1.80 to close the day at a new closing price of $1.00, a 56.87% increase in value from its previous closing price that moved the stock 76.80% above its 52 week low of $32.05. A total of 2.58M shares exchanged hands during the day compared with its three month average trading volume of 3.22M. The stock, which fluctuated between $55.40 and $57.38 during the day, currently situated -4.90% below its 52 week high. The stock is down by 1.49% in the past one month and down by 21.59% over the past three months. With a one year target estimate of $56.32 and RSI of 55.26, the stock still has upside potential, making it a hold for now. Apache Corporation (Apache) is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea).

Santander Consumer USA Holdings Inc (NYSE:SC) had a light trading with around 2.58M shares changing hands compared to its three month average trading volume of 2.01M. The stock traded between $10.21 and $10.74 before closing at the price of $10.63 with 2.90% change on the day. The company is currently trading 24.74% above its 52 week low of $8.54 and -60.11% above its 52 week high of $26.65. Both the RSI indicator and target price of 44.74 and $15.34 respectively, lead us to believe that it could drop over the coming weeks. Santander Consumer USA Holdings Inc. is the holding company for Santander Consumer USA Inc., and subsidiaries, a consumer finance company focused on vehicle finance and third party servicing. The Company’s segment, Consumer Finance, includes its vehicle financial products and services, including retail installment contracts, vehicle leases, and dealer loans, as well as financial products and services related to motorcycles, recreational vehicles (RVs), and marine vehicles.

Analyst Review Alert: Apache Corporation (NYSE:APA)

Analysts are weighing in on how Apache Corporation (NYSE:APA), might perform in the near term. Wall Street analysts have a much less favorable assessment of the stock, with a mean rating of 2.8. The stock is rated as buy by 7 analysts, with 4 outperform and 18 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.

For the current quarter, the 26.00 analysts offering adjusted EPS forecast have a consensus estimate of $-0.39 a share, which would compare with $0.22 in the same quarter last year. They have a high estimate of $0.04 and a low estimate of $-1.25. Revenue for the period is expected to total nearly $1.23B from $1.98B the year-ago period.

For the full year, 28.00 Wall Street analysts forecast this company would deliver earnings of -1.07 per share, with a high estimate of $0.05 and a low estimate of $-3.45. It had reported earnings per share of $-0.34 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $5.09B versus 6.37B in the preceding year.

The analysts project the company to maintain annual growth of around -43.84% percent over the next five years as compared to an average growth rate of 8.52% percent expected for its competitors in the same industry.

Among the 31 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for APA is $56.23 but some analysts are projecting the price to go as high as $67.00. If the optimistic analysts are correct, that represents a 15 percent upside potential from the recent closing price of $58.16. Some sell-side analysts, particularly the bearish ones, have called for $40.00 price targets on shares of Apache Corporation (NYSE:APA).

In the last reported results, the company reported earnings of $0.22 per share, while analysts were calling for share earnings of $-0.26. It was an earnings surprise of 184.60%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, the Texas Panhandle, and Gulf Coast areas of the United States, as well as in Western Canada and Gulf of Mexico. The company also operates assets in Egypt and the United Kingdom in the North Sea. As of December 31, 2015, it had total estimated proved reserves of 794 million barrels of crude oil, 198 million barrels of natural gas liquids, and 3.4 trillion cubic feet of natural gas. Apache Corporation was founded in 1954 and is based in Houston, Texas.

Analyst’s Review to Watch: Apache Corporation (NYSE:APA)

The shares of Apache Corporation (NYSE:APA)currently has mean rating of 2.8 while 7 analyst have recommended the shares as ‘BUY’ ,4 recommended as ‘OUTPERFORM’ and 18 recommended as ‘HOLD’.The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell

The mean price target for the shares of Apache Corporation (NYSE:APA)is at $56.23 while the highest price target suggested by the analysts is $67.00 and low price target is $40.00. The mean price target is calculated keeping in view the consensus of 31 brokerage firms.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 1.23B by 15 analysts. The means estimate of sales for the year ending Dec 16 is 5.09B by 18 analysts.

The average estimate of EPS for the current fiscal quarter for Apache Corporation (NYSE:APA)stands at $-0.39 while the EPS for the current year is fixed at $-1.07 by 26.00 analysts

The next one year’s EPS estimate is set at 1.06 by 29.00 analysts while a year ago the analysts suggested the company’s EPS at $-1.07. The analysts also projected the company’s long-term growth at -43.84% for the upcoming five years

In its latest quarter ended on 31 Mar 2016 , Apache Corporation (NYSE:APA)reported earnings of $-0.40. The posted earnings topped the analyst’s consensus by $0.49 with the surprise factor of 55.10%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Apache Corporation (NYSE:APA) traded up +2.37% during trading on Friday, hitting $57.00 . The stock had a trading volume of 2.9 M shares. The firm has a 50 day moving average of $55.27 and a 200-day moving average of $47.26. The stock has a market cap of $21.44B. On May 25, 2016 the shares registered one year high at $59.59 and the one year low was seen on Jan 20, 2016.

On May 17, 2016 Apache Corporation (NYSE:APA) announced that Cheri L. Peper, corporate secretary, plans to retire effective Aug. 5, 2016.

Anthony Lannie, executive vice president and general counsel, commented, “Cheri’s trusted counsel and expertise have been a tremendous asset to Apache throughout her nearly 23-year tenure. On behalf of the board and all Apache employees, I want to thank Cheri for her many contributions and wish her all the best in retirement.”

Beginning July 11, 2016, Rajesh “Raj” Sharma, currently assistant general counsel – Governance, will assume the additional role of corporate secretary. From this date until her August retirement, Peper will act as assistant secretary to aid in the transition.

In Sharma’s expanded position, he will be responsible for Apache’s communication with its board of directors; shareholder relations; environmental, social and governance shareholder engagement; and compliance with the NYSE and Nasdaq stock exchanges.

Sharma joined Apache as corporate counsel in 2009 and was promoted to senior counsel in 2011 and assistant general counsel in 2014. Before joining Apache, he held positions of increasing responsibility at Mayer Brown LLP; Andrews Kurth LLP; and Fulbright & Jaworski, LLP.  Previously, he worked as an accountant at ARCO Pipe Line and Pricewaterhouse Coopers.  Sharma received his Bachelor of Business Administration in accounting, his Master in Professional Accounting from the University of Texas at Austin, and his Juris Doctor, cum laude, from the University of Houston Law Center. He was admitted to the bar in 2003.  He is a certified public accountant.

Stock on Trader’s Radar: Apache Corp. (NYSE:APA)

Apache Corp. (NYSE:APA) reported earnings for the three months ended March 2016 on May 05, 2016. The company earned $-0.4 per share on revenue of $1.05B. Analysts had been modeling earning per share of $-0.89 with $1.1B in revenue.

Apache Corp. (APA) on May 05, 2016 announced its financial and operational results for the first quarter of 2016.

Apache reported a net loss of $489 million, or $1.29 per diluted common share, which included noncash, after-tax ceiling test write-downs of $325 million driven primarily by low commodity prices. When adjusted for these and certain additional items that impact the comparability of results, Apache’s first-quarter net loss totaled $152 million, or $0.40 per share. Net cash provided by continuing operating activities was approximately $276 million. Cash flow from continuing operations, before changes in operating assets and liabilities, was $435 million, and adjusted EBITDA was $541 million.

John J. Christmann IV, Apache’s chief executive officer and president, said, “Apache’s first-quarter performance was characterized by notable achievements in operations, drilling and further cost reductions. Despite a continued decline in our drilling activities, we delivered strong production results in North America Onshore. Results in the Permian Basin were particularly strong with solid performance from our base production and very good results from maintenance projects and new drilling. Our relentless focus on costs continues to yield significant results. In our North American Onshore key plays, drilling and completion costs are now down approximately 45 percent from 2014 levels.

“Our substantial well-cost reductions, coupled with the recent improvement in oil prices, have created a better investment environment. As we become more confident in the sustainability of higher oil prices and the resulting increase in cash flow relative to our $35-per-barrel plan, we will increase our capital investment program accordingly. The majority of any additional investment would most likely go to the Permian Basin.”

First-quarter operational highlights

During the first quarter, Apache averaged 24 operated rigs and drilled and completed 79 gross-operated wells worldwide. Highlights from Apache’s three principal areas include:

  • North America Onshore – The company averaged 10 rigs in North America Onshore and drilled and completed 47 gross-operated wells during the first quarter.
  • In the Permian Basin, production averaged 171,000 Boe per day, down 2 percent from the fourth quarter of 2015. Apache averaged six operated rigs and drilled and completed 32 gross-operated wells. This is down from 57 drilled and completed wells in the fourth quarter of 2015.
  • In the Delaware Basin, the company successfully drilled and completed five gross-operated wells primarily targeting the Bone Spring formations in the Pecos Bend area. During the quarter, Apache drilled its best well in the basin to date, the Seagull 103-HR, which delivered an impressive average 30-day, initial-production rate of nearly 2,800 Boe per day.
  • The company also drilled and completed 25 gross-operated wells during the quarter in the Midland Basin, Northwest Shelf and Central Basin Platform, achieving strong results from both the Wolfcamp and Yeso formations.
  • North Sea – Apache averaged four operated rigs and generated production of 70,000 Boe per day, a 2-percent decline from the fourth quarter of 2015. During the second half of the quarter, Apache brought four successful development wells online, which resulted in a strong production rebound in the month of April.
  • Egypt – Apache averaged 10 rigs during the quarter and maintained gross production of 353,000 Boe per day, which was essentially flat with the fourth quarter of 2015. Excluding noncontrolling interest and tax barrels, net production was up slightly from the fourth quarter to 103,000 Boe per day. Apache placed 23 wells on production and achieved a drilling success rate of 88 percent during the quarter.

Apache Corp. earnings per share showed a decreasing trend of -495.1% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 103%.Analysts project EPS decline over the next 5 years at 0%. It has EPS annual decline over the past 5 fiscal years of -55.2% when sales declined -12. It reported -35.5% sales drop, and 89.2% EPS growth in the last quarter.

The stock is trading at $55.32, up 72.59% from 52-week low of $32.2. The stock trades down -7.17% from its peak of $59.59 and % below the consensus price target of $56.2. Its volume clocked up at 2.25 million shares which is lower than the average volume of 3.93 million shares. Its market capitalization currently stands at $20.39B.

Analysts: Apache Corp. (NYSE:APA) stock is worth $56.2

Apache Corp. (APA) down -5.07 per cent in the past week, is under coverage of 0 analysts who collectively recommend a hold rating on stock. 0 of the analysts have a buy or better rating; the 0 sells versus 0 underperforms. The 30 equity analysts who rate the stock have an average target price at $56.2, with individual targets ranging between $40 and $67. The shares closed last trade at $53, implying that analysts see shares rising about 6.04 per cent in 12 months’ time.

Insider Activity: Insiders look optimistic about the prospects of the company that they seem to accumulate shares while they are 20.6 up so far this year. A Exec. Vice President at Apache Corp. (APA) purchased shares in the company in a transaction completed on Thursday August 27, 2015. Harris Margery M accumulated 1,115 shares in the company at an average price of $42 and ended up spending $46,830 in the investment. Harris Margery M now have 29,321 shares in the company after this transaction. A Executive Vice Pres & CFO in the company, Riney Stephen J, on Wednesday August 26, 2015 spent $237,240 from the purchase of 6,000 shares at $42 each. Insiders are expected to know better about the health and prospects of their company, which is why insiders’ move deserves attention.

Earnings to Watch: Investors considering APA stock at the going market price of $53/share should know the stock will next release quarterly results for the June 2016 quarter. For the reporting quarter, analysts expect the company to deliver -$0.41 in earnings per share (EPS). That would represent a -286.36% year-over-year decrease. Revenue for the same period is expected to arrive at $1.22B.

Earnings Roundup: In the last fiscal quarter alone, Apache Corp. generated around $1.05B in revenue and net income of -$0.4/share. That compares with the consensus estimate $1.1B and -$0.89/share, respectively. For the prior quarter revenue for the company hit $1.26B, with earnings at -$0.06/share.

Analyst Coverage: Scotia Howard Weil has been a brokerage house following shares of Apache Corp. (APA), so its rating change is noteworthy. The stock was upgraded to Sector Outperform from Sector Perform, wrote analysts at Scotia Howard Weil, in a note issued to clients on Monday May 16, 2016. There was another key note issued by Wells Fargo on Friday April 08, 2016. The firm lifted its rating on APA from Market Perform to Outperform.

Price Momentum: Despite the -2.81% decrease in value, the stock’s new closing price represents a -11.06% fall in value from company’s one year high of $59.59. The stock is currently holding above its 50 day moving average of $-2.92 and below its 200 day moving average of $55.22. Over the last three months and over the last six months, the shares of Apache Corp. (APA), have changed 15.07% and 47.09%, respectively.

 

Apache Corporation (NYSE:APA) Stock Price Will Hit 56.20:Analyst

Analysts are weighing in on how Apache Corporation (NYSE:APA), might perform in the near term. Wall Street analysts have a much less favorable assessment of the stock, with a mean rating of 2.7. The stock is rated as buy by 0 analysts, with 0 outperform and 0 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.

For the current quarter, the 25.00 analysts offering adjusted EPS forecast have a consensus estimate of $-0.41 a share, which would compare with $0.22 in the same quarter last year. They have a high estimate of $0.04 and a low estimate of $-1.25. Revenue for the period is expected to total nearly $1.22B from $1.98B the year-ago period.

For the full year, 28.00 Wall Street analysts forecast this company would deliver earnings of -1.07 per share, with a high estimate of $0.05 and a low estimate of $-3.45. It had reported earnings per share of $-0.34 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $5.07B versus 6.37B in the preceding year.

The analysts project the company to maintain annual growth of around -43.84% percent over the next five years as compared to an average growth rate of 8.79% percent expected for its competitors in the same industry.

Among the 30 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for APA is $56.20 but some analysts are projecting the price to go as high as $67.00. If the optimistic analysts are correct, that represents a 26 percent upside potential from the recent closing price of $53.00. Some sell-side analysts, particularly the bearish ones, have called for $40.00 price targets on shares of Apache Corporation (NYSE:APA).

In the last reported results, the company reported earnings of $0.22 per share, while analysts were calling for share earnings of $-0.26. It was an earnings surprise of 184.60%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, the Texas Panhandle, and Gulf Coast areas of the United States, as well as in Western Canada and Gulf of Mexico. The company also operates assets in Egypt and the United Kingdom in the North Sea. As of December 31, 2015, it had total estimated proved reserves of 794 million barrels of crude oil, 198 million barrels of natural gas liquids, and 3.4 trillion cubic feet of natural gas. Apache Corporation was founded in 1954 and is based in Houston, Texas.