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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.05
APA's Cash to Debt is ranked higher than
60% of the 1106 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.55 vs. APA: 0.05 )
APA' s 10-Year Cash to Debt Range
Min: 0   Max: 0.42
Current: 0.05

0
0.42
Equity to Asset 0.51
APA's Equity to Asset is ranked higher than
74% of the 1074 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.54 vs. APA: 0.51 )
APA' s 10-Year Equity to Asset Range
Min: 0.34   Max: 0.59
Current: 0.51

0.34
0.59
Interest Coverage 21.40
APA's Interest Coverage is ranked higher than
77% of the 716 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 14.93 vs. APA: 21.40 )
APA' s 10-Year Interest Coverage Range
Min: 1.05   Max: 174.54
Current: 21.4

1.05
174.54
F-Score: 4
Z-Score: 1.45
M-Score: -3.37
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 9/10

vs
industry
vs
history
Operating margin (%) 18.09
APA's Operating margin (%) is ranked higher than
83% of the 1093 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 11.32 vs. APA: 18.09 )
APA' s 10-Year Operating margin (%) Range
Min: -13.78   Max: 93.62
Current: 18.09

-13.78
93.62
Net-margin (%) -2.80
APA's Net-margin (%) is ranked higher than
75% of the 1093 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 3.83 vs. APA: -2.80 )
APA' s 10-Year Net-margin (%) Range
Min: -14.76   Max: 34.59
Current: -2.8

-14.76
34.59
ROE (%) -1.27
APA's ROE (%) is ranked higher than
77% of the 1183 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -0.20 vs. APA: -1.27 )
APA' s 10-Year ROE (%) Range
Min: -7.33   Max: 27.99
Current: -1.27

-7.33
27.99
ROA (%) -0.68
APA's ROA (%) is ranked higher than
78% of the 1230 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -0.39 vs. APA: -0.68 )
APA' s 10-Year ROA (%) Range
Min: -3.18   Max: 15.09
Current: -0.68

-3.18
15.09
ROC (Joel Greenblatt) (%) 5.11
APA's ROC (Joel Greenblatt) (%) is ranked higher than
82% of the 1214 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.90 vs. APA: 5.11 )
APA' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -3.23   Max: 279.29
Current: 5.11

-3.23
279.29
Revenue Growth (%) 5.50
APA's Revenue Growth (%) is ranked higher than
77% of the 789 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9.50 vs. APA: 5.50 )
APA' s 10-Year Revenue Growth (%) Range
Min: -39.5   Max: 166.1
Current: 5.5

-39.5
166.1
EBITDA Growth (%) 4.90
APA's EBITDA Growth (%) is ranked higher than
79% of the 723 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 5.20 vs. APA: 4.90 )
APA' s 10-Year EBITDA Growth (%) Range
Min: -2.4   Max: 44.6
Current: 4.9

-2.4
44.6
EPS Growth (%) -13.60
APA's EPS Growth (%) is ranked higher than
74% of the 651 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -4.40 vs. APA: -13.60 )
APA' s 10-Year EPS Growth (%) Range
Min: -35.6   Max: 75.4
Current: -13.6

-35.6
75.4
» APA's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2013

APA Guru Trades in Q4 2013

Paul Tudor Jones 6,230 sh (New)
Jeff Auxier 18,600 sh (+129.63%)
Steven Cohen 48,895 sh (+102.2%)
Manning & Napier Advisors, Inc 2,439,780 sh (+49.16%)
Ray Dalio 69,800 sh (+45.11%)
John Rogers 50,725 sh (+25.06%)
David Dreman 3,703 sh (+8.4%)
Charles Brandes 116,656 sh (+2.86%)
Richard Pzena 946,593 sh (+2.84%)
Wallace Weitz 1,073,656 sh (+2.29%)
Dodge & Cox 12,532,800 sh (+0.7%)
Pioneer Investments 1,924,368 sh (+0.49%)
Steven Cohen 420,000 sh (unchged)
Bill Nygren 2,600,000 sh (unchged)
Brian Rogers 6,000,000 sh (unchged)
Bill Frels 2,933 sh (unchged)
Martin Whitman 860,000 sh (unchged)
Jim Simons Sold Out
Third Avenue Management 1,091,980 sh (-1.78%)
Diamond Hill Capital 1,666,613 sh (-2.32%)
John Buckingham 50,525 sh (-2.44%)
Mario Gabelli 18,160 sh (-2.63%)
Scott Black 14,388 sh (-3.85%)
NWQ Managers 3,743,876 sh (-15.92%)
Jean-Marie Eveillard 2,417,347 sh (-22.93%)
Robert Olstein 53,000 sh (-25.35%)
Jeremy Grantham 193,399 sh (-26.87%)
» More
Q1 2014

APA Guru Trades in Q1 2014

Arnold Van Den Berg 308,809 sh (New)
Jim Simons 605,654 sh (New)
Joel Greenblatt 27,742 sh (New)
Mario Gabelli 41,710 sh (+129.68%)
Jeremy Grantham 382,767 sh (+97.92%)
Paul Tudor Jones 12,221 sh (+96.16%)
Ray Dalio 111,699 sh (+60.03%)
Third Avenue Management 1,478,213 sh (+35.37%)
Bill Nygren 3,450,000 sh (+32.69%)
Dodge & Cox 15,425,646 sh (+23.08%)
John Rogers 61,600 sh (+21.44%)
Jeff Auxier 22,500 sh (+20.97%)
Richard Pzena 1,113,734 sh (+17.66%)
Manning & Napier Advisors, Inc 2,612,763 sh (+7.09%)
David Dreman 3,904 sh (+5.43%)
Charles Brandes 122,453 sh (+4.97%)
John Buckingham 52,768 sh (+4.44%)
Scott Black 14,718 sh (+2.29%)
Wallace Weitz 1,074,049 sh (+0.04%)
Martin Whitman 960,000 sh (+11.63%)
Brian Rogers 6,000,000 sh (unchged)
Robert Olstein 53,000 sh (unchged)
Steven Cohen Sold Out
NWQ Managers 3,661,388 sh (-2.2%)
Bill Frels 2,796 sh (-4.67%)
Pioneer Investments 1,832,680 sh (-4.76%)
Jean-Marie Eveillard 2,044,427 sh (-15.43%)
Diamond Hill Capital 1,077,316 sh (-35.36%)
» More
Q2 2014

APA Guru Trades in Q2 2014

Chuck Royce 1,100 sh (New)
George Soros 104,794 sh (New)
John Hussman 100,000 sh (New)
Jeremy Grantham 873,067 sh (+128.09%)
David Dreman 4,784 sh (+22.54%)
Mario Gabelli 49,510 sh (+18.7%)
Dodge & Cox 16,979,111 sh (+10.07%)
Manning & Napier Advisors, Inc 2,802,057 sh (+7.24%)
Charles Brandes 126,619 sh (+3.4%)
Bill Nygren 3,505,000 sh (+1.59%)
John Buckingham 53,035 sh (+0.51%)
John Rogers 61,900 sh (+0.49%)
Martin Whitman 1,090,000 sh (+13.54%)
Steven Cohen 40,005 sh (unchged)
Brian Rogers 6,000,000 sh (unchged)
Jean-Marie Eveillard Sold Out
Robert Olstein Sold Out
Jim Simons Sold Out
Diamond Hill Capital Sold Out
Arnold Van Den Berg 306,583 sh (-0.72%)
Scott Black 14,432 sh (-1.94%)
Bill Frels 2,696 sh (-3.58%)
Wallace Weitz 1,026,213 sh (-4.45%)
Jeff Auxier 21,445 sh (-4.69%)
Third Avenue Management 1,353,333 sh (-8.45%)
Richard Pzena 1,000,631 sh (-10.16%)
NWQ Managers 2,638,866 sh (-27.93%)
Pioneer Investments 1,287,017 sh (-29.77%)
Ray Dalio 72,699 sh (-34.92%)
Paul Tudor Jones 7,100 sh (-41.9%)
Joel Greenblatt 14,072 sh (-49.28%)
» More
Q3 2014

APA Guru Trades in Q3 2014

Louis Moore Bacon 25,000 sh (New)
Paul Singer 20,491 sh (New)
Jim Simons 500,254 sh (New)
Caxton Associates 12,700 sh (New)
Joel Greenblatt 28,177 sh (+100.23%)
Mario Gabelli 61,710 sh (+24.64%)
Bill Nygren 4,005,000 sh (+14.27%)
Bill Frels 2,996 sh (+11.13%)
Charles Brandes 136,302 sh (+7.65%)
Dodge & Cox 17,432,611 sh (+2.67%)
John Buckingham 53,402 sh (+0.69%)
John Rogers 61,900 sh (unchged)
Brian Rogers 6,000,000 sh (unchged)
John Hussman 100,000 sh (unchged)
Chuck Royce Sold Out
Steven Cohen Sold Out
Paul Tudor Jones Sold Out
Scott Black 14,427 sh (-0.03%)
Jeff Auxier 21,345 sh (-0.47%)
Pioneer Investments 1,280,231 sh (-0.53%)
Ray Dalio 71,400 sh (-1.79%)
David Dreman 4,683 sh (-2.11%)
Manning & Napier Advisors, Inc 2,741,161 sh (-2.17%)
Third Avenue Management 1,293,994 sh (-4.38%)
Arnold Van Den Berg 285,981 sh (-6.72%)
NWQ Managers 2,453,598 sh (-7.02%)
Wallace Weitz 721,408 sh (-29.7%)
Jeremy Grantham 575,989 sh (-34.03%)
Richard Pzena 631,633 sh (-36.88%)
George Soros 15,000 sh (-85.69%)
Martin Whitman 990,300 sh (-9.15%)
» More
» Details

Insider Trades

Latest Guru Trades with APA

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Wallace Weitz 2014-09-30 Reduce -29.7%0.92%$93.31 - $103.48 $ 73.36-26%721408
Bill Nygren 2014-09-30 Add 14.27%0.3%$93.31 - $103.48 $ 73.36-26%4005000
Richard Pzena 2014-09-30 Reduce -36.88%0.21%$93.31 - $103.48 $ 73.36-26%631633
NWQ Managers 2014-09-30 Reduce -7.02%0.19%$93.31 - $103.48 $ 73.36-26%2453598
Arnold Van Den Berg 2014-09-30 Reduce -6.72%0.18%$93.31 - $103.48 $ 73.36-26%285981
Third Avenue Management 2014-09-30 Reduce -4.38%0.11%$93.31 - $103.48 $ 73.36-26%1293994
George Soros 2014-09-30 Reduce -85.69%0.07%$93.31 - $103.48 $ 73.36-26%15000
Mario Gabelli 2014-09-30 Add 24.64%0.01%$93.31 - $103.48 $ 73.36-26%61710
Joel Greenblatt 2014-09-30 Add 100.23%0.01%$93.31 - $103.48 $ 73.36-26%28177
Martin Whitman 2014-07-31 Reduce -9.15%0.41%$86.42 - $103.48 $ 73.36-23%990300
John Hussman 2014-06-30 New Buy0.77%$82.09 - $101.6 $ 73.36-19%100000
NWQ Managers 2014-06-30 Reduce -27.93%0.75%$82.09 - $101.6 $ 73.36-19%2638866
Robert Olstein 2014-06-30 Sold Out 0.6%$82.09 - $101.6 $ 73.36-19%0
Jean-Marie Eveillard 2014-06-30 Sold Out 0.45%$82.09 - $101.6 $ 73.36-19%0
Third Avenue Management 2014-06-30 Reduce -8.45%0.2%$82.09 - $101.6 $ 73.36-19%1353333
Dodge & Cox 2014-06-30 Add 10.07%0.15%$82.09 - $101.6 $ 73.36-19%16979111
Wallace Weitz 2014-06-30 Reduce -4.45%0.12%$82.09 - $101.6 $ 73.36-19%1026213
George Soros 2014-06-30 New Buy0.08%$82.09 - $101.6 $ 73.36-19%104794
Ray Dalio 2014-06-30 Reduce -34.92%0.03%$82.09 - $101.6 $ 73.36-19%72699
Joel Greenblatt 2014-06-30 Reduce -49.28%0.02%$82.09 - $101.6 $ 73.36-19%14072
David Dreman 2014-06-30 Add 22.54%0.01%$82.09 - $101.6 $ 73.36-19%4784
Martin Whitman 2014-04-30 Add 13.54%0.54%$78.02 - $87.96 $ 73.36-11%1090000
Arnold Van Den Berg 2014-03-31 New Buy2.1%$78.02 - $87.9 $ 73.36-11%308809
Third Avenue Management 2014-03-31 Add 35.37%0.63%$78.02 - $87.9 $ 73.36-11%1478213
Bill Nygren 2014-03-31 Add 32.69%0.57%$78.02 - $87.9 $ 73.36-11%3450000
Dodge & Cox 2014-03-31 Add 23.08%0.24%$78.02 - $87.9 $ 73.36-11%15425646
Joel Greenblatt 2014-03-31 New Buy0.04%$78.02 - $87.9 $ 73.36-11%27742
Ray Dalio 2014-03-31 Add 60.03%0.03%$78.02 - $87.9 $ 73.36-11%111699
John Rogers 2014-03-31 Add 21.44%0.01%$78.02 - $87.9 $ 73.36-11%61600
Mario Gabelli 2014-03-31 Add 129.68%0.01%$78.02 - $87.9 $ 73.36-11%41710
Martin Whitman 2014-01-31 Add 11.63%0.39%$81.02 - $94.42 $ 73.36-16%960000
NWQ Managers 2013-12-31 Reduce -15.92%0.57%$85.28 - $94.42 $ 73.36-18%3743876
Robert Olstein 2013-12-31 Reduce -25.35%0.24%$85.28 - $94.42 $ 73.36-18%53000
Jean-Marie Eveillard 2013-12-31 Reduce -22.93%0.18%$85.28 - $94.42 $ 73.36-18%2417347
John Rogers 2013-12-31 Add 25.06%0.01%$85.28 - $94.42 $ 73.36-18%50725
Ray Dalio 2013-12-31 Add 45.11%0.01%$85.28 - $94.42 $ 73.36-18%69800
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Preferred stocks of Apache Corporation

SymbolPriceYieldDescription
APAPRD0.016.54Apache --- Deposit Shs Repr 1/20th 6 % Mand Conv Pfd Shs Series -D-

Guru Investment Theses on Apache Corporation

Third Avenue Value Fund Comments on Apache Corporation - Sep 12, 2014

Apache (APA) is transforming its holdings from a diversified array of E&P assets to one that is more focused on unconventional onshore liquids plays. We expect the company to live within its cash flow, excluding the CAPEX required for its two liquid natural gas (LNG) projects, Wheatstone and Kitimat. Longer term, we think Apache will at least partially monetize LNG projects, which are operated by Chevron, to focus on higher return projects that support production and cash flow growth. Although not expected nor central to our investment thesis, the recent involvement from JANA Partners further validates our view that significant value remains under‐appreciated within Apache’s still fairly diverse portfolio of E&P assets.



From Third Avenue Value Fund’s Third Quarter 2014 Commentary.



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Third Avenue Management Comments on Apache - Jul 23, 2014

Oil and gas exploration and production (“E&p”) companies (Encana Common and Apache Common (APA)). Shares of both companies were purchased below our estimates of net asset value, despite generally improving business fundamentals, particularly for natural gas.

From Martin Whitman (Trades, Portfolio)'s 2Q 2014 Shareholder Letters.

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Bill Nygren Comments on Apache - Jul 10, 2014

Our best-performing sectors for the second quarter were energy and information technology, and from these sectors, Apache (APA) and Intel were the Fund’s two strongest individual contributors.



The energy sector got a lift from rising commodity prices, and Apache enjoyed better than expected earnings and some value-maximizing capital allocation decisions. Apache is selling what we think are fully valued oil and gas assets and using the proceeds to repurchase undervalued shares of the company. We are always thrilled to see management teams allocate capital to the highest return alternatives.



Even with strong recent gains for Apache and Intel, the two stocks still sell at a significant discount to our estimate of intrinsic value.



From Bill Nygren (Trades, Portfolio)'s Second Quarter 2014 Shareholder Letter.



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Diamond Hill Capital Comments on Apache Corp - Jun 26, 2014

Shares of oil and gas exploration and production company Apache Corp. (APA) responded to the company’s weakened competitive position relative to the domestic oil and gas industry.



We also eliminated oil and gas exploration and production companies Apache Corp. (APA) and Occidental Petroleum Corp. (OXY) and reinvested the proceeds into other opportunities that presented a larger discount to our estimate of intrinsic value.



From Diamond Hill Capital's Select Fund Commentary – First Quarter 2014.



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Third Avenue Management Comments on Apache - Sep 12, 2013

Fund Management also increased its position in Apache Common (APA), which was discussed in last quarter's letter, increasing the Fund's exposure to the oil and gas exploration and production ("E&P") sector to about 10%. The main attraction of our E&P investments (including Apache, Devon Energy, Encana and Total) is common stock pricing at a significant discount to our estimate of NAV with NAV consisting primarily of proved reserves of oil and natural gas. Each company in whose common stock the Fund is invested has a strong management team and a track record for generating attractive long-term NAV growth. Recently NAV growth has been weaker for our companies, and the overall industry, owing primarily to low natural gas and natural gas liquids pricing and slower than expected production growth from new oil plays. The poor overall sector stock performance and resultant divergence between the intrinsic value and market value of the common stocks has attracted the attention of activists who have targeted several companies including Hess Corp., Murphy Oil Corp., Chesapeake Energy Corp. and Occidental Petroleum Corp.The Value Fund sees the same disparity between the intrinsic value of corporate assets and public market prices. Although our companies have not been publicly targeted, the boards and management teams have taken actions to try to improve shareholder value such as selling assets and repurchasing stock (Apache) and pursuing an IPO of midstream assets (Devon).

We further discuss the Fund's recent investments in the energy sector, as well as how sector themes arise from our bottom-up investment approach, in the essay that closes this letter.

From Third Avenue Management’s third quarter 2013 letter to shareholders.


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Bill Nygren Comments on Apache Corp. - Jul 11, 2013

Apache Corp. (APA – $84)(APA)
Apache is a large oil and gas exploration and production company operating both within and outside of the United States. The stock is down from a high of $149 reached in 2008 when natural gas prices were higher and from $134 in 2011 before it missed optimistic production growth targets. Disappointed investors pushed the stock to a low of $68 last quarter. Pessimism has left growth expectations so low that we now believe they will likely be exceeded. More importantly, management has changed its tune regarding its stock. Previously, like many of its peers, Apache management emphasized absolute growth without regard to per share growth. So our ears perked up when management said that, because the acquisition market valued Apache’s assets at higher multiples than the stock market, the company would begin to divest assets and use proceeds to repurchase undervalued stock. Selling at just nine times consensus earnings estimates for 2014 and with expectations of good capital allocation, we believe Apache is an attractive addition to our portfolio.

From Bill Nygren's second quarter 2013 commentary.
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Third Avenue Management Comments on Apache Corp - Jul 01, 2013

The Fund initiated a new position in Apache Common (APA) during the quarter. Apache is a Houston based oil and gas exploration and production ("E&P") company. Apache Common seems to be very inexpensive—the shares were purchased at a slight discount to book value, 3.5x earnings before interest, taxes depreciation and amortization ("EBITDA"), 8x expected 2013 earnings and a 20% discount to our conservative estimate of net asset value ("NAV"). The management team, led by CEO Steve Farris, has an impressive long-term track record of growth, and several recent acquisitions,including assets opportunistically acquired from BP after the Macondo oil spill, provide the company with a wealth of development opportunities to drive future net asset value growth. Apache's financial position is strong as most of its debt is long term, low coupon(A-credit rating) and easily supported by cash flow (interest coverage totals about 24x).

From Third Avenue Management's semi-annual 2013 commentary.
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Top Ranked Articles about Apache Corporation

Stocks Arnold Van Den Berg and Bill Nygren Have in Common
When two successful value investors own a company’s stock, it’s worth investigating what the company could be doing right. Last year, GuruFocus looked at the stocks Warren Buffett and George Soros have in common. This time, we’ll compare Arnold Van Den Berg (Trades, Portfolio) and Bill Nygren (Trades, Portfolio). Read more...
Third Avenue Value Fund Comments on Apache Corporation
Apache (APA) is transforming its holdings from a diversified array of E&P assets to one that is more focused on unconventional onshore liquids plays. We expect the company to live within its cash flow, excluding the CAPEX required for its two liquid natural gas (LNG) projects, Wheatstone and Kitimat. Longer term, we think Apache will at least partially monetize LNG projects, which are operated by Chevron, to focus on higher return projects that support production and cash flow growth. Although not expected nor central to our investment thesis, the recent involvement from JANA Partners further validates our view that significant value remains under‐appreciated within Apache’s still fairly diverse portfolio of E&P assets. Read more...
Third Avenue Management Comments on Apache
Oil and gas exploration and production (“E&p”) companies (Encana Common and Apache Common (APA)). Shares of both companies were purchased below our estimates of net asset value, despite generally improving business fundamentals, particularly for natural gas. Read more...
Brian Rogers Reports Top Five of the Second Quarter
In addition to his roles as chairman and chief investment officer of the management firm T. Rowe Price, Brian Rogers (Trades, Portfolio) manages the T. Rowe Price Equity Income Fund (PRFDX), an income and value-oriented strategy. Along with managing these funds, Rogers is also a member of the Barron’s Roundtable Team. Read more...
Bill Nygren Comments on Apache
Our best-performing sectors for the second quarter were energy and information technology, and from these sectors, Apache (APA) and Intel were the Fund’s two strongest individual contributors. Read more...
Diamond Hill Capital Comments on Apache Corp
Shares of oil and gas exploration and production company Apache Corp. (APA) responded to the company’s weakened competitive position relative to the domestic oil and gas industry. Read more...
Top Guru-Owned Energy Companies at the Start of 2014
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see energy companies which are held by the most gurus. The following five energy companies are held by the largest number of gurus during the past quarter. Read more...
Investor Arnold Van Den Berg Buys Another Slew of Miners in Q1
Century Management’s Arnold Van Den Berg (Trades, Portfolio) already reported his first quarter portfolio. He bought fewer stocks this quarter than in the previous quarter, with 14 new buys compared to 22. The decreased purchasing could be related to his wariness of the U.S. economy’s stability. In his February note, “Inflation, Gold and Gold Mining Companies,” he wrote: Read more...
Portfolio Manager David Miller and His Insider Buys Stock Picks
Over the past week Portfolio Manager David Miller had an interview with Barron’s where he discussed his stock picks. David Miller and his fund, Catalyst Funds, like to watch the corporate executives of a company. Miller is so confident in his approach that he created several funds based on watching insiders that are bullish on their own stocks. One of Miller’s funds is the Catalyst Insider Buying Fund (INSAX), which is a large-cap fund that looks for big name companies where insiders are buying. Read more...
Third Avenue Management Comments on Apache
In August, Apache (APA) announced that it agreed to sell a 33% stake in its Egyptian oil and gas business to Sinopec (SHI) for $3.1 billion. This price equated to $34 per barrel of proved reserves, or a significant premium to the valuation of Apache common of about $15 per barrel prior to the announcement of the transaction. Given the recent political turmoil in Egypt, we were pleasantly surprised at the higher Read more...

Ratios

vs
industry
vs
history
P/B 0.93
APA's P/B is ranked higher than
86% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.42 vs. APA: 0.93 )
APA' s 10-Year P/B Range
Min: 0.88   Max: 2.99
Current: 0.93

0.88
2.99
P/S 2.00
APA's P/S is ranked higher than
87% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 3.68 vs. APA: 2.00 )
APA' s 10-Year P/S Range
Min: 1.62   Max: 4.36
Current: 2

1.62
4.36
EV-to-EBIT 15.33
APA's EV-to-EBIT is ranked higher than
87% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 186.27 vs. APA: 15.33 )
APA' s 10-Year EV-to-EBIT Range
Min: -10.5   Max: 102.1
Current: 15.33

-10.5
102.1
PEG 43.32
APA's PEG is ranked higher than
93% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. APA: 43.32 )
APA' s 10-Year PEG Range
Min: 0.2   Max: 103.18
Current: 43.32

0.2
103.18
Shiller P/E 23.37
APA's Shiller P/E is ranked higher than
94% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. APA: 23.37 )
APA' s 10-Year Shiller P/E Range
Min: 8.48   Max: 30.72
Current: 23.37

8.48
30.72
Current Ratio 1.03
APA's Current Ratio is ranked higher than
75% of the 1215 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.17 vs. APA: 1.03 )
APA' s 10-Year Current Ratio Range
Min: 0.64   Max: 2.25
Current: 1.03

0.64
2.25
Quick Ratio 0.86
APA's Quick Ratio is ranked higher than
73% of the 1215 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.12 vs. APA: 0.86 )
APA' s 10-Year Quick Ratio Range
Min: 0.56   Max: 2.03
Current: 0.86

0.56
2.03

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.25
APA's Dividend Yield is ranked lower than
82% of the 352 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 4.11 vs. APA: 1.25 )
APA' s 10-Year Dividend Yield Range
Min: 0.41   Max: 1.24
Current: 1.25

0.41
1.24
Dividend Payout 0.20
APA's Dividend Payout is ranked higher than
98% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. APA: 0.20 )
APA' s 10-Year Dividend Payout Range
Min: 0.04   Max: 7.5
Current: 0.2

0.04
7.5
Dividend growth (3y) 8.70
APA's Dividend growth (3y) is ranked higher than
87% of the 206 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 6.60 vs. APA: 8.70 )
APA' s 10-Year Dividend growth (3y) Range
Min: -13.6   Max: 49.4
Current: 8.7

-13.6
49.4
Yield on cost (5-Year) 1.75
APA's Yield on cost (5-Year) is ranked lower than
77% of the 362 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 4.60 vs. APA: 1.75 )
APA' s 10-Year Yield on cost (5-Year) Range
Min: 0.55   Max: 1.67
Current: 1.75

0.55
1.67
Share Buyback Rate -4.20
APA's Share Buyback Rate is ranked higher than
84% of the 949 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -7.50 vs. APA: -4.20 )
APA' s 10-Year Share Buyback Rate Range
Min: -0.3   Max: -15.3
Current: -4.2

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 0.97
APA's Price/Tangible Book is ranked higher than
87% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.74 vs. APA: 0.97 )
APA' s 10-Year Price/Tangible Book Range
Min: 1.02   Max: 2.86
Current: 0.97

1.02
2.86
Price/DCF (Projected) 1.16
APA's Price/DCF (Projected) is ranked higher than
96% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. APA: 1.16 )
APA' s 10-Year Price/DCF (Projected) Range
Min: 0.82   Max: 12.21
Current: 1.16

0.82
12.21
Price/Median PS Value 0.68
APA's Price/Median PS Value is ranked higher than
84% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.98 vs. APA: 0.68 )
APA' s 10-Year Price/Median PS Value Range
Min: 0.12   Max: 1.58
Current: 0.68

0.12
1.58
Price/Peter Lynch Fair Value 78.97
APA's Price/Peter Lynch Fair Value is ranked higher than
95% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. APA: 78.97 )
APA' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.27   Max: 98.63
Current: 78.97

0.27
98.63
Price/Graham Number 2.67
APA's Price/Graham Number is ranked higher than
84% of the 1350 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. APA: 2.67 )
APA' s 10-Year Price/Graham Number Range
Min: 0.58   Max: 3.34
Current: 2.67

0.58
3.34
Earnings Yield (Greenblatt) 6.50
APA's Earnings Yield (Greenblatt) is ranked higher than
86% of the 1200 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 2.00 vs. APA: 6.50 )
APA' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1   Max: 30.1
Current: 6.5

1
30.1
Forward Rate of Return (Yacktman) 8.64
APA's Forward Rate of Return (Yacktman) is ranked higher than
92% of the 930 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -11.24 vs. APA: 8.64 )
APA' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 5.2   Max: 35.9
Current: 8.64

5.2
35.9

Business Description

Industry: Oil & Gas - E&P » Oil & Gas E&P
Compare:OJSCY, APC, HRTPY, SGTZY, WOPEY » details
Traded in other countries:APA.Germany, AP A.Mexico
Apache Corporation is a Delaware corporation formed in 1954, is an independent energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has exploration and production interests in six countries: the U.S., Canada, Egypt, Australia, the U.K. North Sea (North Sea), and Argentina. The Company's North American asset base primarily comprises operations in the Permian Basin, the Anadarko basin in western Oklahoma and the Texas Panhandle, Gulf Coast onshore and offshore areas of the U.S., and in Western Canada and also has leasehold acreage holdings in the Cook Inlet of Alaska and other areas where it is pursuing exploration opportunities. Its assets were divided into five regions: Permian, Central, Gulf Coast Onshore, Gulf of Mexico Deepwater, and the Gulf of Mexico Shelf. The Company has continued to increase its presence in the region of Canada and holds approximately 5.4 million gross acres across the provinces of British Columbia, Alberta and Saskatchewan. The Company's international assets are located in Egypt, Australia, offshore the U.K. in the North Sea and Argentina. International assets contributed 42 percent of its production and 50 percent of its oil and gas revenues. Its holdings in Australia are focused offshore Western Australia in the Carnarvon, Exmouth, and Browse basins, with production operations in the Carnarvon and Exmouth basins. It has operated in the Carnarvon basin since acquiring the gas processing facilities on Varanus Island and adjacent producing properties in 1993. In total, the Company controls approximately 7.9 million gross acres offshore Western Australia through 30 exploration permits, 18 production licenses, and 9 retention leases. The Company has operations in the provinces of Neuqun, Rio Negro and Tierra del Fuego. It has interests in 31 concessions, exploration permits and other interests totaling 3.3 million gross acres in three of the main Argentine hydrocarbon basins: Neuqun, Austral, and Cuyo. The Company's competitors include national oil companies, major integrated oil and gas companies, other independent oil and gas companies and participants in other industries supplying energy and fuel to industrial, commercial and individual consumers. The Company subject to numerous federal, provincial, state, local and foreign country laws and regulations relating to discharge of materials into, and protection of, the environment.
» More Articles for APA

Headlines

Articles On GuruFocus.com
Weekly Guru Bargains Highlights: MT, FCX, CLR, BSBR, APA Nov 17 2014 
Apache Corporation Announces The Financial Results For Q3 2014 Nov 14 2014 
Guru Brian Rogers Names Q3 Top Five Oct 21 2014 
Stocks Arnold Van Den Berg and Bill Nygren Have in Common Oct 08 2014 
Apache´s Portfolio Could Offset Potential Risks Oct 08 2014 
DNOW: This Spin-Off Has Huge Growth Potential Sep 30 2014 
Freeport McMoRan's Improving Business Makes It a Smart Investment Sep 26 2014 
Apache Corporation Announces The Results For The Last Quarter Sep 22 2014 
Third Avenue Value Fund Comments on Apache Corporation Sep 12 2014 
Upside Will Continue For Apache Petroleum Sep 08 2014 

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