Stock Analysis:Apache Corporation (NYSE:APA) Stock Target Raised
In a comprehensive report disseminated by Jefferies & Co on Wednesday, 2 December, Apache Corporation (NYSE:APA) had its TP increased to $43.00. The firm currently has a solid “Underperform” rating on shares.
From a total of 29 analysts covering Apache Corporation (NYSE:APA) stock, 13 rate it a ”Buy”, 3 a “Sell”, and 17 a ”Hold”. This means that 39% of the ratings are positive. The highest target price is $73 while the lowest target price is $39. The mean of all analyst targets is $55.55 with a 20.23% above today’s ($48.54) stock price. Apache Corporation was the topic of 24 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 6 with “Outperform” rating. S&P Research maintained shares with “Buy” rating and $56 target share price in a report from an August 7. Argus Research maintained APA stock in a recent report from September 15 with “Buy” rating. Finally, Zacks downgraded the stock to “Buy” rating in a report issued on an August 10.
Approximately 478,856 shares of stock traded hands. Apache Corporation (NYSE:APA) has declined 28.31% since April 29, 2015 and is downtrending. It has underperformed by 28.11% the S&P500.
Apache Corporation is an independent energy company, which explores for, develops, and produces crude oil, natural gas, and natural gas liquids. The company has a market cap of $18.35 billion. As of December 31, 2014, Apache had exploration and production interests in five countries: the United States, Canada, Egypt, Australia and the United Kingdom. It currently has negative earnings. During the year ended December 31, 2014, it participated in drilling 1,478 gross wells, with 1,407 (95%) completed as producers.
According to Zacks Investment Research, “Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. In North America, Apache’s exploration and production interests are focused on the Gulf of Mexico, the Anadarko Basin, the Permian Basin, the Gulf Coast and the Western Sedimentary Basin of Canada. Outside of North America, Apache has exploration and production interests offshore Western Australia and in Egypt, and exploration interests in Poland and offshore The People’s Republic of China.” Get a free copy of the Zacks research report on Apache Corporation (APA).