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Also traded in: Germany, Mexico

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 : 3/10

vs
industry
vs
history
Cash-to-Debt 0.16
APA's Cash-to-Debt is ranked lower than
71% of the 449 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.72 vs. APA: 0.16 )
Ranked among companies with meaningful Cash-to-Debt only.
APA' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.01  Med: 0.04 Max: 0.43
Current: 0.16
0.01
0.43
Equity-to-Asset 0.28
APA's Equity-to-Asset is ranked lower than
73% of the 423 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.51 vs. APA: 0.28 )
Ranked among companies with meaningful Equity-to-Asset only.
APA' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.25  Med: 0.49 Max: 0.57
Current: 0.28
0.25
0.57
Piotroski F-Score: 4
Altman Z-Score: 0.59
Beneish M-Score: -3.71
WACC vs ROIC
8.41%
-9.60%
WACC
ROIC
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 : 4/10

vs
industry
vs
history
Operating Margin % -37.70
APA's Operating Margin % is ranked higher than
54% of the 429 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -45.13 vs. APA: -37.70 )
Ranked among companies with meaningful Operating Margin % only.
APA' s Operating Margin % Range Over the Past 10 Years
Min: -176.64  Med: 17.3 Max: 48.73
Current: -37.7
-176.64
48.73
Net Margin % -28.59
APA's Net Margin % is ranked higher than
60% of the 429 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -49.17 vs. APA: -28.59 )
Ranked among companies with meaningful Net Margin % only.
APA' s Net Margin % Range Over the Past 10 Years
Min: -150.27  Med: 8.92 Max: 28.23
Current: -28.59
-150.27
28.23
ROE % -25.58
APA's ROE % is ranked lower than
65% of the 420 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -13.16 vs. APA: -25.58 )
Ranked among companies with meaningful ROE % only.
APA' s ROE % Range Over the Past 10 Years
Min: -61.21  Med: 5.41 Max: 19.65
Current: -25.58
-61.21
19.65
ROA % -6.72
APA's ROA % is ranked higher than
57% of the 496 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -9.02 vs. APA: -6.72 )
Ranked among companies with meaningful ROA % only.
APA' s ROA % Range Over the Past 10 Years
Min: -25.42  Med: 3.01 Max: 10.62
Current: -6.72
-25.42
10.62
ROC (Joel Greenblatt) % -8.46
APA's ROC (Joel Greenblatt) % is ranked higher than
57% of the 470 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -13.05 vs. APA: -8.46 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
APA' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -32.79  Med: 6.38 Max: 20.84
Current: -8.46
-32.79
20.84
3-Year Revenue Growth Rate -26.50
APA's 3-Year Revenue Growth Rate is ranked lower than
67% of the 369 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -18.20 vs. APA: -26.50 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
APA' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -26.5  Med: 9.2 Max: 38.9
Current: -26.5
-26.5
38.9
3-Year EBITDA Growth Rate -47.50
APA's 3-Year EBITDA Growth Rate is ranked lower than
83% of the 303 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -21.60 vs. APA: -47.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
APA' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -47.5  Med: 11.4 Max: 40.8
Current: -47.5
-47.5
40.8
GuruFocus has detected 2 Warning Signs with Apache Corp $APA.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» APA's 10-Y Financials

Financials (Next Earnings Date: 2017-05-04)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q2 2016

APA Guru Trades in Q2 2016

Louis Moore Bacon 5,555 sh (New)
Steven Cohen 120,000 sh (New)
David Dreman 4,998 sh (+270.22%)
John Rogers 77,018 sh (+7.46%)
Chris Davis 17,611,450 sh (+2.55%)
Jeff Auxier 9,501 sh (unchged)
Jim Simons Sold Out
Dodge & Cox 29,097,064 sh (-0.56%)
Mario Gabelli 87,700 sh (-0.85%)
Arnold Van Den Berg 240,522 sh (-1.91%)
Bill Nygren 7,640,000 sh (-3.78%)
Charles Brandes 1,616,412 sh (-6.03%)
Ray Dalio 110,900 sh (-8.42%)
T Rowe Price Equity Income Fund 4,475,000 sh (-35.07%)
NWQ Managers 678,918 sh (-36.39%)
Third Avenue Management 524,055 sh (-47.93%)
Richard Pzena 932,140 sh (-48.75%)
Jeremy Grantham 9,332 sh (-75.98%)
Martin Whitman 667,100 sh (-27.87%)
» More
Q3 2016

APA Guru Trades in Q3 2016

Pioneer Investments 48,621 sh (New)
Chris Davis 19,676,467 sh (+11.73%)
Jeremy Grantham 9,732 sh (+4.29%)
Mario Gabelli 91,002 sh (+3.77%)
Dodge & Cox 29,142,376 sh (+0.16%)
John Rogers 77,018 sh (unchged)
Steven Cohen 30,000 sh (unchged)
Louis Moore Bacon Sold Out
Steven Cohen Sold Out
Arnold Van Den Berg 237,477 sh (-1.27%)
Bill Nygren 7,440,000 sh (-2.62%)
Jeff Auxier 9,241 sh (-2.74%)
Charles Brandes 1,561,690 sh (-3.39%)
Ray Dalio 104,800 sh (-5.50%)
David Dreman 4,330 sh (-13.37%)
T Rowe Price Equity Income Fund 3,700,957 sh (-17.30%)
Third Avenue Management 405,279 sh (-22.66%)
NWQ Managers 73,091 sh (-89.23%)
Richard Pzena 17,450 sh (-98.13%)
Martin Whitman 322,700 sh (-51.63%)
» More
Q4 2016

APA Guru Trades in Q4 2016

HOTCHKIS & WILEY 828,000 sh (New)
Keeley Asset Management Corp 45,118 sh (New)
Caxton Associates 27,905 sh (New)
Pioneer Investments 1,426,167 sh (+2833.23%)
Arnold Van Den Berg 265,403 sh (+11.76%)
John Rogers 77,018 sh (unchged)
Richard Pzena Sold Out
Chris Davis 19,575,752 sh (-0.51%)
Dodge & Cox 28,896,095 sh (-0.85%)
Mario Gabelli 89,350 sh (-1.82%)
NWQ Managers 71,432 sh (-2.27%)
Jeremy Grantham 9,332 sh (-4.11%)
T Rowe Price Equity Income Fund 3,510,000 sh (-5.16%)
Bill Nygren 6,940,000 sh (-6.72%)
Ray Dalio 97,100 sh (-7.35%)
Jeff Auxier 8,015 sh (-13.27%)
David Dreman 3,648 sh (-15.75%)
Charles Brandes 1,154,128 sh (-26.10%)
Third Avenue Management 257,260 sh (-36.52%)
Martin Whitman 257,700 sh (-20.14%)
» More
Q1 2017

APA Guru Trades in Q1 2017

Arnold Van Den Berg 326,343 sh (+22.96%)
T Rowe Price Equity Income Fund 3,550,000 sh (+1.14%)
Martin Whitman 204,200 sh (-20.76%)
» More
» Details

Insider Trades

Latest Guru Trades with APA

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Preferred stocks of Apache Corp

SymbolPriceYieldDescription
APAHP0.000.005.68% Cum.Red.Pfd Shs Series -B-

Business Description

Industry: Oil & Gas - E&P » Oil & Gas E&P    NAICS: 211111    SIC: 1311
Compare:NYSE:CXO, OTCPK:WOPEY, NYSE:DVN, NYSE:CLR, NYSE:HES, NYSE:NBL, OTCPK:IPXHY, NYSE:MRO, OTCPK:OAOFY, OTCPK:MITSF, NYSE:XEC, NYSE:COG, OTCPK:PTXLF, NYSE:EQT, NYSE:ECA, NAS:FANG, OTCPK:OISHF, NYSE:PE, NYSE:PXD, NYSE:NFX » details
Traded in other countries:APA.Germany, AP A.Mexico,
Headquarter Location:USA
Apache Corp is an independent energy company that explores, develops and produces natural gas, crude oil and natural gas liquids.It has interests in six countries: the U.S., Canada, Egypt, Australia, the U.K. North Sea (North Sea), and Argentina.

Apache Corp, based in Houston, is one of the largest independent exploration and production companies in the world. Its asset base includes conventional and unconventional resource plays throughout North America as well as oil and gas projects in Egypt and the United Kingdom. At year-end 2015, proved reserves totaled 1.8 billion barrels of oil equivalent, with net production of 519 mboe/d. Natural gas made up 40% of production and proved reserves.

Guru Investment Theses on Apache Corp

Bill Nygren and David Herro Comment on Apache - Oct 10, 2016

The largest contributor to performance for the fiscal year was Apache (NYSE:APA), a global oil and gas exploration company, which returned 66%. Oil prices have been volatile over the past year, but have rebounded in 2016 thus far. Apache has specifically benefitted from solid quarterly results that have demonstrated improved capital efficiency, including a 45% decline in North American well costs compared to 2014 levels. The company also announced the discovery of a new resource play in the Permian Basin called “Alpine High.” Initial results indicate that Apache has discovered a high quality resource at a low cost. This increased our estimate of intrinsic value and also increased our confidence in management. In our view, Apache has the balance sheet and asset quality to survive continued volatility in oil and gas prices, and we like how the management team is preserving and growing per share value during the commodity price downturn.

From Bill Nygren (Trades, Portfolio) and David Herro (Trades, Portfolio)'s Oakmark Global Select Fund third quarter 2016 commentary.

Check out Bill Nygren,David Herro latest stock trades

David Herro and Bill Nygren Comments on Apache - Jul 12, 2016

The largest contributor to performance for the quarter was Apache (NYSE:APA) (U.S.), a global oil and gas exploration company, which returned 14%. In addition to higher oil prices, Apache benefitted from solid first quarter results that demonstrated better production at lower costs. The results also showed that Apache continues to reduce its capital intensity with North American well costs down 45% since 2014 due to service prices and efficiencies. In our view, Apache has the balance sheet and asset quality to survive continued volatility in oil and gas prices, and we like how the management team is preserving and growing per share value. One of the reasons we purchased Apache last year was our confidence in the newly appointed CEO, John Christmann. He acted quickly, replacing the operating heads of each region and changing compensation metrics to focus on return, better aligning management with the shareholders. We continue to believe that Apache is inexpensive relative to the value of its properties.



From David Herro (Trades, Portfolio) and Bill Nygren's Oakmark Global Select Fund second quarter 2016 commentary.



Check out Bill Nygren,David Herro latest stock trades

Third Avenue Management Comments on Apache - May 25, 2016

Apache (NYSE:APA) surprised many investors by reporting decent quarterly earnings. Most importantly, additional funding was not needed given its solid financial position. As most energy peers are battling stressed balance sheets, we were pleased (but not surprised) Apache avoided raising capital at a disadvantageous time.



From Third Avenue Management (Trades, Portfolio)'s ThirdAvenueValueFund second quarter commentary.

Check out Third Avenue Management latest stock trades

Oakmark Comments on Apache - Jan 08, 2016

The largest detractor for the year was Apache (NYSE:APA) (U.S.), a global oil and gas exploration and production company, whose shares fell 28%. As with most oil and gas exploration and production companies, Apache’s share price has been adversely affected by persistently weak oil and natural gas prices. In this challenging environment, the company is focused on improving capital efficiency, both through the efficient development of U.S. shale assets and the low-cost growth of international assets. Firm-wide operating costs continue to fall, and capex has decreased by almost 60% this year. We believe Apache's capital productivity is improving at a faster pace than its global peers, which helps its position on the cost curve. Apache has what we consider to be a healthy balance sheet, which should allow the company to endure a prolonged downturn, and we expect that an eventual commodity price recovery will highlight the growing value of Apache's underappreciated asset base.



From Oakmark Global Select Fund's fourth quarter 2015 commentary.



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Bill Nygren and David Herro Comments on Apache - Oct 08, 2015

The largest detractor from performance for the quarter and past twelve months was Apache (NYSE:APA), the U.S.-based oil and gas exploration and production company. As with most oil and gas exploration companies, Apache’s share price is influenced by the direction of oil prices, which have fallen dramatically and remain low. Our assessment of Apache’s business value is based on the belief that the long-term market clearing oil price is in the mid-$70s. While a decline in near-term commodity prices reduced our estimate of value due to lost interim cash flows, the stock’s decline has significantly exceeded what we think is the true change in the company’s underlying business value. Despite a challenging energy market, we believe the management team has a solid plan for the future, as CEO John Christmann recently changed the company’s capital allocation process to better direct capital to the highest internal rate of return projects, regardless of where they are located. In addition, Christmann replaced the operating heads of each region, changing their compensation metrics to focus on returns. In our view, these improvements strengthen Apache’s ability to maximize its value. We believe most investors are ignoring the value of many Apache assets that will generate substantial cash flow when energy prices increase.

From Biill Nygren and David Herro (Trades, Portfolio)'s Q3 Oakmark Global Select Fund commentary.

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Top Ranked Articles about Apache Corp

Apache Corporation Announces Appointment of Two New Midstream and Marketing Executives
Apache Corporation to Release First-Quarter 2017 Results May 4
Third Avenue Value Fund Reduces Apache Stake Oil company's market price has gained since the reduction
Chip Rewey, the portfolio manager for Third Avenue Value Fund, reduced the fund’s stake in Apache Corp (NYSE:APA) by selling 344,400 shares of the company during the third quarter. The trade had a -1.56% impact on the Third Avenue Value Fund’s portfolio. It now owns 322,700 shares of the company. Read more...
Bill Nygren and David Herro Comment on Apache Guru stock highlight
The largest contributor to performance for the fiscal year was Apache (NYSE:APA), a global oil and gas exploration company, which returned 66%. Oil prices have been volatile over the past year, but have rebounded in 2016 thus far. Apache has specifically benefitted from solid quarterly results that have demonstrated improved capital efficiency, including a 45% decline in North American well costs compared to 2014 levels. The company also announced the discovery of a new resource play in the Permian Basin called “Alpine High.” Initial results indicate that Apache has discovered a high quality resource at a low cost. This increased our estimate of intrinsic value and also increased our confidence in management. In our view, Apache has the balance sheet and asset quality to survive continued volatility in oil and gas prices, and we like how the management team is preserving and growing per share value during the commodity price downturn. Read more...
Oil Prices Gain Slightly Oil trading around $45 per barrel for the week
Oil prices remained mostly steady around $45 per barrel for the week as the energy industry continues to struggle with oversupply. Read more...
Apache Announces Discovery of Oil in West Texas Find has potential to be largest in decade
Apache Corp. (NYSE:APA), an independent energy company, announced the discovery of 2 billion to 3 billion barrels of oil in a West Texas field on Wednesday. Read more...
David Herro and Bill Nygren Comments on Apache Guru stock highlight
The largest contributor to performance for the quarter was Apache (NYSE:APA) (U.S.), a global oil and gas exploration company, which returned 14%. In addition to higher oil prices, Apache benefitted from solid first quarter results that demonstrated better production at lower costs. The results also showed that Apache continues to reduce its capital intensity with North American well costs down 45% since 2014 due to service prices and efficiencies. In our view, Apache has the balance sheet and asset quality to survive continued volatility in oil and gas prices, and we like how the management team is preserving and growing per share value. One of the reasons we purchased Apache last year was our confidence in the newly appointed CEO, John Christmann. He acted quickly, replacing the operating heads of each region and changing compensation metrics to focus on return, better aligning management with the shareholders. We continue to believe that Apache is inexpensive relative to the value of its properties. Read more...
AlliancePharma Announces Transformative Acquisitions

Materially Expands Presence in Pharmacy Services and Pharmaceutical Solutions Markets

THETFORD MINES, QUEBEC--(Marketwired - Jul 4, 2016) - AlliancePharma Inc. (TSX VENTURE:APA) ("AlliancePharma" or the "Corporation") is pleased to announce that it has entered into definitive agreements to acquire three companies and has also entered into a private placement agreement with a healthcare-focused private equity fund. These transformative transactions will position AlliancePharma for the next stage of its corporate development. Assuming the completion of these transactions, AlliancePharma will have approximately 100 employees, a network of over 750 allied health professional contractors, 1,100 clients and annual gross sales of over $50 million. Specifically, AlliancePharma is pleased to announce a $4 million private placement from Persistence Capital Partners ("PCP"), a private equity fund specializing in health care, as well as the acquisition of Pro-J-Pharma Inc. ("Pro-J-Pharma") and entering into definitive agreements to acquire Pharmapar Inc. ("Pharmapar") and Agence L.I.V. Inc. ("liV"). Each of these businesses will add to AlliancePharma's core competencies:

Pro-J-Pharma:

Firm specializing in personnel placement in pharmacies
Broadens AlliancePharma's current personnel placement services for pharmacies and extends its geographic reach within Quebec




Pharmapar:

Generic pharmaceutical distribution company
Opens the door to pharmaceutical distribution for AlliancePharma




liV:

Medical communication agency
Opens the door to branded pharmaceuticals for AlliancePharma through education and medical communication


"I am delighted to announce these acquisitions and our new strategic financing," said AlliancePharma president and CEO, Marc Lemieux. "Given the aging demographics of Canada, and the increasing pressures on the healthcare system, it is our belief that pharmacies will play an ever-increasing role in the healthcare system. With these acquisitions, AlliancePharma is well-positioned to provide a significantly expanded range of services to our pharmacy and pharmaceutical clients." Acquisitions and significantly expanded reach Up to now, AlliancePharma has specialized in personnel placement for pharmacies, specifically pharmacists and lab personnel. It is a leading provider of these services in Quebec, and the acquisition of Pro-J-Pharma is highly complementary to its existing business. Assuming completion of the acquisitions of Pharmapar and liV, AlliancePharma will significantly expand its scope of services, particularly in the Pharmacy Services and Pharmaceutical Solutions Markets. Pro-J-Pharma On June 29, 2016, AlliancePharma acquired 100% of the shares of Pro-J-Pharma from François Théorêt and Guylaine Demontigny in consideration for 556,000 common shares of AlliancePharma, namely 278,000 shares to Mr. Théorêt and 278,000 shares to Ms. Demontigny. The transaction was effective June 1, 2016. Pro-J-Pharma specializes in healthcare personnel placement and is headquartered in Saint-Eustache, Quebec. For the years ended May 31, 2014 and 2015 (unaudited), Pro-J-Pharma generated revenue of $1,660,000 and $1,687,000 respectively and a net profit (loss) of $5,000 and ($16,000). Its balance sheet for the years ended May 31, 2014 and 2015 (unaudited) shows assets of $266,000 and $190,000 respectively, liabilities of $271,000 and $240,000, and negative stockholders' equity of $5,000 and $50,000. The acquisition should be immediately accretive to the Corporation's income and cash flow from operations, and it anticipates future positive impacts from operating synergies and efficiencies. The principals at Pro-J-Pharma—François Théorêt and Guylaine Demontigny—will continue to be involved in the operations to ensure continuity and service quality for clients. Additional information is available on Pro-J-Pharma at www.groupeprojacques.com. Pharmapar On June 29, 2016, AlliancePharma entered into a definitive agreement with Jean-Louis Gélinas, Hugues Gélinas, and Gestion J.L.H.M. Gélinas Inc. to purchase, subject to certain conditions, all of the issued and outstanding shares of Pharmapar in consideration for $8,500,000 payable in cash at closing, the issuance of 8,888,889 common shares of AlliancePharma at closing, and a balance of purchase price of $1,600,000, payable in cash in five equal annual instalments of $320,000 beginning on the first anniversary of the transaction. Pharmapar is a generic pharmaceutical distribution company headquartered in Montreal, Quebec. Its subsidiary, Biomed 2002 Inc., also specializes in generic product distribution. For the 2014 and 2015 calendar years (unaudited), Pharmapar generated net sales of $21,171,000 and $22,206,000 respectively and net profit of $445,000 and $699,000. Its balance sheet for the 2014 and 2015 calendar years (unaudited) shows assets of $10,771,000 and $10,366,000 respectively, liabilities of $7,173,000 and $6,043,000, and stockholders' equity of $3,598,000 and $4,323,000. Closing of this transaction is subject to fulfilling certain closing conditions on or before August 16, 2016, including a new credit facility for the Corporation, which is currently being negotiated. A finder's fees of 1,560,000 common shares of the Corporation will be paid to an arms-length intermediary upon successful closing of the transaction. The principals at Pharmapar, including Jean-Louis Gélinas and Hugues Gélinas, will continue to oversee operations to ensure operational continuity and corporate growth. Additional information is available on Pharmapar at www.pharmapar.ca. liV On June 29, 2016, AlliancePharma entered into a definitive agreement with 9301-6053 Québec Inc. and Lee Courchesne to purchase, subject to certain conditions, all of the issued and outstanding shares of liV in consideration for $5,000,000 payable in cash at closing, and the issuance of 3,833,333 common shares of AlliancePharma at closing. liV is an agency specializing in professional medical and pharmaceutical training. It is headquartered in Sainte-Julie, Quebec. For the years ended May 31, 2014 and 2015 (unaudited), liV generated revenue of $4,066,000 and $8,336,000 respectively and net profit of $209,000 and $816,000. Its balance sheet for the years ended May 31, 2014 and 2015 (unaudited), shows assets of $1,197,000 and $2,901,000 respectively, liabilities of $987,000 and $1,974,000, and stockholders' equity of $210,000 and $926,000. Closing of this transaction is subject to fulfilling certain closing conditions on or before August 16, 2016, including a new credit facility for the Corporation, which is currently being negotiated. A finder's fees of 750,000 common shares of the Corporation will be paid to an arms-length intermediary upon successful closing of the transaction. Lee Courchesne will continue to oversee agency operations and service quality. Additional information on liV is available at www.livagency.ca. Diversification and a pan-Canadian presence Following these acquisitions, the Company has regrouped its activities into two segments to better reflect its focus on its customers:

Pharmacy Services, which provides a range of services to pharmacies and pharmacists, including staffing, generic medication, and related services; and
Pharmaceutical Solutions, which provides a range of medical communications, training and other services to pharmaceutical firms in Canada

Given liV's pan-Canadian clients, these transactions represent the beginning of a strategy to broaden the Corporation's activities outside Quebec. Strategic Investment by Persistence Capital Partners In order to finance these transactions, the Corporation has entered into an agreement with PCP, Canada's leading private equity fund exclusively focused on high-growth opportunities in Canadian healthcare, to invest $4 million into AlliancePharma. PCP is a Montreal-based private equity fund that targets investment opportunities with strong growth potential in the healthcare sector. With its in-depth industry knowledge and operational experience in health care, PCP aims for long-term capital appreciation by identifying and developing attractive investment opportunities in the Canadian healthcare field. Commenting on the investment, Stuart M. Elman, Managing Partner of PCP, said, "We are delighted to support the growth of AlliancePharma as it embarks on this exciting phase of its development, and to partner with talented entrepreneurs like Marc Lemieux and the management team at AlliancePharma." Concurrent with this announcement, Mr. Elman has agreed to join the board of directors of AlliancePharma. On June 30, 2016, PCP entered into an agreement to subscribe for 40,000 Class A preferred shares of the Corporation (the "Preferred Shares") the creation and issuance of which must be approved by the shareholders of the Corporation at a special meeting of shareholders to be held no later than September 30, 2016. Marc Lemieux, Isabelle Bégin, and Gestion Isamar Adstock Inc., who hold a total of approximately 71% of the issued and outstanding common shares of the Corporation, have undertaken to vote in favor of the creation and issuance of the Preferred Shares. The Preferred Shares will be convertible into common shares of the Corporation anytime up to their expiration date at a conversion price of $0.35 per share. Assuming full conversion of the Preferred Shares, a total of 11,428,571 common shares are issuable to PCP. The Preferred Shares will be entitled to vote as a separate class of shares and will also be entitled to vote on an "as converted" basis at any special or general meeting of the shareholders of the Company. The Preferred Shares shall not be entitled to any fixed dividend entitlement, but shall participate in all dividends declared on the Common Shares on an "as converted" basis. In the event of a change of control of the Corporation, and at any time after June 30, 2020, PCP may demand that the Corporation redeem its Preferred Shares at a redemption price equal to the greater of (i) the subscription price of the Preferred Shares plus a preferred return equal to 24%, compounded annually from the date of their issuance, less any amounts previously distributed as dividends and (ii) their fair market value. In the event of a liquidation, holders of Preferred Shares will be entitled to receive, in priority to holders of other shares of the Company, an amount per Preferred Share equal to the product of three times the subscription price less any amounts previously distributed as dividends. As additional consideration, PCP has received 11,428,571 warrants entitling it to purchase one AlliancePharma common share per warrant, for a total of 11,428,571 common shares at an exercise price of $0.69 per common share, at any time in the five years following the investment closing date. As long as (i) the Preferred Shares remain issued and outstanding or (ii) PCP owns, directly or indirectly, 10% or more of the issued and outstanding common shares on a fully diluted basis, PCP will have certain governance rights, including the right to appoint directors, pro-rata pre-emptive participation rights of future share issuances, as well as certain registration rights. Closing of the PCP investment is subject to certain conditions, including final approval by the TSX Venture Exchange, and the creation and issuance of the Preferred Shares. A new stage in its corporate life Founded in 2009, AlliancePharma is the result of the vision of Isabelle Bégin and Marc Lemieux. Having worked for years in the pharmaceutical industry and having noticed the enormous potential in pharmaceutical products and services, they saw an opportunity to better serve the needs of pharmacists and the healthcare industry, and thus AlliancePharma was born. The company quickly became a major player in personnel placement for pharmacies. In recent months the company has undertaken to diversify through a series of acquisitions aimed at broadening its range of services to the healthcare industry. The acquisitions announced today mark a significant advance that gives shape to the vision of its two founders and positions AlliancePharma as a new strategic partner in the pharmaceutical industry. About AlliancePharma AlliancePharma is a leading solution and service provider to the pharmaceutical market. Today it is a respected name for quality and expertise among pharmacists. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.alliancepharmainc.ca and on SEDAR at www.sedar.com. CAUTION REGARDING FORWARD-LOOKING STATEMENTS This press release from AlliancePharma contains forward-looking statements about the acquisition of all equity securities in planned acquisitions by AlliancePharma and about strategic financing from PCP. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target, and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, predict, could, expect, intend, may, plan, seek, should, strive, and will. By their nature, forward-looking statements require us to make estimates and assumptions and express opinions based on current conditions and anticipated developments, as well as other factors that Management may deem appropriate under the circumstances. There is inherent uncertainty and significant risk in these estimates, assumptions, and opinions, particularly of a commercial, economic, and competitive nature, and they are therefore subject to change. AlliancePharma cannot guarantee that these estimates, assumptions, and opinions will prove to be accurate. This press release contains forward-looking statements with regard to the following: the financial, cash flow, and growth prospects of the Corporation following the acquisitions; certain strategic benefits and operational synergies; corporation management following the merger; the anticipated closing date for the planned acquisitions; the anticipated earnings of AlliancePharma and the acquired entities; and the securing of financing from PCP. The pro forma information in this press release must not be construed as necessarily reflecting what the actual financial and other operating results would have been if AlliancePharma and acquisitions had operated together as a single unit during the cited periods. Numerous risks and uncertainties may cause the actual outcomes of the merged Corporation to differ substantially from the estimates, beliefs, and assumptions expressed or implied in the forward-looking statements, specifically with regard to the following: achievement of expected outcomes, including growth in operating revenue as a result of undertakings by the merged Corporation; heightened competition from existing or new market competitors; changes to the economic situation, including inflation or deflation; variations in interest or exchange rates or in the price of derivatives or inputs; inability to achieve desired outcomes in labor negotiations; inability to attract and retain key employees or plan efficiently for succession needs; damage to the reputation of the brands promoted by the merged Corporation; the impact of new or amended legislation; changes in regulatory requirements that affect the merged Corporation, including changes to fiscal laws and regulations or to fee structures; new accounting pronouncements or changes to current accounting practices; the possibility that the merged Corporation may contravene a law or policy or behave in a non-ethical fashion; unfavorable outcomes from lawsuits brought against the merged Corporation; or events or series of events that may interrupt operations. Readers are cautioned that the above list is not exhaustive. Other risks and uncertainties of which AlliancePharma is not currently apprised or that it does not currently deem important could cause actual outcomes or events to differ substantially from those set out in the forward-looking statements. Nothing guarantees that the planned acquisitions and the financing from PCP will come to pass or that the anticipated strategic benefits and operational synergies will materialize. The planned acquisitions and the strategic financing from PCP are subject to various approvals from regulatory authorities, and specifically that of TSXV, as well as fulfillment of and compliance with various conditions, and nothing guarantees that such approvals will be secured and/or such conditions will be fulfilled. The planned merger could be modified, restructured, or cancelled. Readers are cautioned not to accord undue credibility to such forward-looking statements, which are based solely on AlliancePharma's expectations as of the date of this press release. AlliancePharma declines all responsibility to update or revise its forward-looking statements, whether to account for new information or future events or circumstances, unless legally obligated to do so. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, or in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, nor under any State securities law, and may not be offered for sale or sold in the United States, unless registered in compliance with these laws or dispensed from such registration. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.





Marco Parent
TACT Intelligence - Conseil
[email protected]
514 349-7778




Read more...
Third Avenue Management Comments on Apache Guru stock highlight
Apache (NYSE:APA) surprised many investors by reporting decent quarterly earnings. Most importantly, additional funding was not needed given its solid financial position. As most energy peers are battling stressed balance sheets, we were pleased (but not surprised) Apache avoided raising capital at a disadvantageous time. Read more...
AlliancePharma Inc. Announces an Exclusive Agreement With the Duval Group and Associates Pharmacists, Holding More Than 14 Pharmacies in Quebec

THETFORD MINES, QUEBEC--(Marketwired - Apr 26, 2016) - AlliancePharma Inc. (TSX VENTURE:APA) ("AlliancePharma" or "the Company") is pleased to announce an exclusive agreement with the Duval Group and Associates Pharmacists ("Groupe Duval"). The agreement includes an arrangement with 14 pharmacies for replacement pharmacists and pharmacy technicians, and for the use of Logistik Pharma services, a new subsidiary of the Company dedicated to increasing the profitability of pharmacies by optimizing laboratory work organization and patient management. Groupe Duval will also benefit from the virtual teaching platform of AlliancePharma affiliate Elitis Campus for education of their employees. "AlliancePharma stands out as a leader in pharmacy replacement services, technical assistants in pharmacies and professional services by the recognition of such a mark of confidence and engagement from the Duval Group towards our Company. Our objectives consist in innovation and exceeding our level of services to satisfy all our customers through the implementation of professional services up to their expectations and in line with new market trends", said Marc Lemieux, Chairman of the Board, President and CEO of AlliancePharma. About AlliancePharma AlliancePharma is the leader in professional services and replacement pharmacists and pharmacy technicians in Quebec. The quality of its customer service and professional services rendered reflect the expertise of the Company. Management's vision is to expand and diversify its activities to become a key player in the health services industry in Quebec, the rest of Canada and internationally. Additional information regarding the Company is available at www.alliancepharmainc.ca and on SEDAR at www.sedar.com. This press release contains forward-looking statements to which are associated some risks and uncertainties. Any statement contained in this present press release that does not constitute an historical fact can be considered as a forward-looking statement. Those statements do not warrant as for the future performance of AlliancePharma Inc. and they suppose known and unknown risks as well as uncertainties in such a way that true future perspectives, returns or results of the Company may be different of future returns or results expressed or implied by these forward-looking statements. AlliancePharma Inc. does not accept responsibility for the accuracy and the completeness of those forward-looking statements and does not undertake to publicly review such statements to adapt to new events or circumstance. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.





Patrick Fernet
Global Impact Service g.p.
(514) 796-8787
[email protected]




Read more...

Ratios

vs
industry
vs
history
Forward PE Ratio 37.59
APA's Forward PE Ratio is ranked lower than
73% of the 283 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 23.70 vs. APA: 37.59 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 3.05
APA's PB Ratio is ranked lower than
78% of the 420 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.22 vs. APA: 3.05 )
Ranked among companies with meaningful PB Ratio only.
APA' s PB Ratio Range Over the Past 10 Years
Min: 0.78  Med: 1.73 Max: 10.93
Current: 3.05
0.78
10.93
PS Ratio 3.57
APA's PS Ratio is ranked lower than
51% of the 405 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 3.60 vs. APA: 3.57 )
Ranked among companies with meaningful PS Ratio only.
APA' s PS Ratio Range Over the Past 10 Years
Min: 1.61  Med: 2.76 Max: 4.74
Current: 3.57
1.61
4.74
Price-to-Free-Cash-Flow 39.48
APA's Price-to-Free-Cash-Flow is ranked lower than
74% of the 125 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 15.92 vs. APA: 39.48 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
APA' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 9.99  Med: 26.46 Max: 4739.52
Current: 39.48
9.99
4739.52
Price-to-Operating-Cash-Flow 7.81
APA's Price-to-Operating-Cash-Flow is ranked higher than
52% of the 267 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 8.20 vs. APA: 7.81 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
APA' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 2.75  Med: 4.85 Max: 13.4
Current: 7.81
2.75
13.4
EV-to-EBIT -17.47
APA's EV-to-EBIT is ranked lower than
99.99% of the 209 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 16.34 vs. APA: -17.47 )
Ranked among companies with meaningful EV-to-EBIT only.
APA' s EV-to-EBIT Range Over the Past 10 Years
Min: -21.1  Med: 7 Max: 67.4
Current: -17.47
-21.1
67.4
EV-to-EBITDA 19.80
APA's EV-to-EBITDA is ranked lower than
67% of the 399 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 12.98 vs. APA: 19.80 )
Ranked among companies with meaningful EV-to-EBITDA only.
APA' s EV-to-EBITDA Range Over the Past 10 Years
Min: -23.6  Med: 4.2 Max: 23.9
Current: 19.8
-23.6
23.9
Current Ratio 1.76
APA's Current Ratio is ranked higher than
61% of the 480 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.23 vs. APA: 1.76 )
Ranked among companies with meaningful Current Ratio only.
APA' s Current Ratio Range Over the Past 10 Years
Min: 0.62  Med: 1.04 Max: 2.04
Current: 1.76
0.62
2.04
Quick Ratio 1.50
APA's Quick Ratio is ranked higher than
59% of the 479 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.12 vs. APA: 1.50 )
Ranked among companies with meaningful Quick Ratio only.
APA' s Quick Ratio Range Over the Past 10 Years
Min: 0.57  Med: 0.92 Max: 1.73
Current: 1.5
0.57
1.73
Days Inventory 113.59
APA's Days Inventory is ranked lower than
85% of the 201 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 28.39 vs. APA: 113.59 )
Ranked among companies with meaningful Days Inventory only.
APA' s Days Inventory Range Over the Past 10 Years
Min: 76.69  Med: 98.47 Max: 116.22
Current: 113.59
76.69
116.22
Days Sales Outstanding 77.35
APA's Days Sales Outstanding is ranked lower than
72% of the 381 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 55.27 vs. APA: 77.35 )
Ranked among companies with meaningful Days Sales Outstanding only.
APA' s Days Sales Outstanding Range Over the Past 10 Years
Min: 39.98  Med: 66.47 Max: 77.35
Current: 77.35
39.98
77.35
Days Payable 126.05
APA's Days Payable is ranked higher than
61% of the 238 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 88.02 vs. APA: 126.05 )
Ranked among companies with meaningful Days Payable only.
APA' s Days Payable Range Over the Past 10 Years
Min: 80.28  Med: 127.36 Max: 200.76
Current: 126.05
80.28
200.76

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.99
APA's Dividend Yield % is ranked lower than
69% of the 293 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 8.48 vs. APA: 1.99 )
Ranked among companies with meaningful Dividend Yield % only.
APA' s Dividend Yield % Range Over the Past 10 Years
Min: 0.42  Med: 0.74 Max: 2.83
Current: 1.99
0.42
2.83
3-Year Dividend Growth Rate 9.10
APA's 3-Year Dividend Growth Rate is ranked higher than
85% of the 98 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -33.20 vs. APA: 9.10 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
APA' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: -29.2  Med: 0 Max: 82.2
Current: 9.1
-29.2
82.2
Forward Dividend Yield % 1.99
APA's Forward Dividend Yield % is ranked lower than
73% of the 255 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 3.01 vs. APA: 1.99 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 3.52
APA's 5-Year Yield-on-Cost % is ranked higher than
61% of the 404 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 2.73 vs. APA: 3.52 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
APA' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.74  Med: 1.31 Max: 5.01
Current: 3.52
0.74
5.01
3-Year Average Share Buyback Ratio 1.40
APA's 3-Year Average Share Buyback Ratio is ranked higher than
95% of the 365 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -9.80 vs. APA: 1.40 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
APA' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -30.1  Med: -5.2 Max: 1.4
Current: 1.4
-30.1
1.4

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 3.04
APA's Price-to-Tangible-Book is ranked lower than
76% of the 393 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.28 vs. APA: 3.04 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
APA' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.91  Med: 1.93 Max: 3.86
Current: 3.04
0.91
3.86
Price-to-Intrinsic-Value-Projected-FCF 17.80
APA's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
95% of the 104 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.33 vs. APA: 17.80 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
APA' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.82  Med: 1.48 Max: 29.19
Current: 17.8
0.82
29.19
Price-to-Median-PS-Value 1.29
APA's Price-to-Median-PS-Value is ranked lower than
67% of the 345 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.02 vs. APA: 1.29 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
APA' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.49  Med: 1.05 Max: 1.64
Current: 1.29
0.49
1.64
Earnings Yield (Greenblatt) % -5.73
APA's Earnings Yield (Greenblatt) % is ranked lower than
66% of the 565 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -3.19 vs. APA: -5.73 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
APA' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -5.73  Med: 12.1 Max: 30.2
Current: -5.73
-5.73
30.2
Forward Rate of Return (Yacktman) % 10.90
APA's Forward Rate of Return (Yacktman) % is ranked higher than
80% of the 169 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -16.11 vs. APA: 10.90 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
APA' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -45.8  Med: 11.3 Max: 34
Current: 10.9
-45.8
34

More Statistics

Revenue (TTM) (Mil) $5,323
EPS (TTM) $ -4.03
Beta1.36
Short Percentage of Float6.13%
52-Week Range $48.05 - 69.00
Shares Outstanding (Mil)380.37

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 6,646 7,410 8,951
EPS ($) 1.44 3.71 2.59
EPS without NRI ($) 1.44 3.71 2.59
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($) 1.00 1.02 1.05
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