BMO Capital analyst Phillip Jungwirth reiterated a Hold rating on Apache (NYSE: APA) today and set a price target of $41. The company’s shares closed yesterday at $45.64.
According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 7.4% and a 58.0% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as HighPoint Resources Corporation, Whiting Petroleum Corp, and Occidental Petroleum.
Apache has an analyst consensus of Hold, with a price target consensus of $48, a 5.2% upside from current levels. In a report issued on July 23, Mizuho Securities also initiated coverage with a Hold rating on the stock with a $55 price target.
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Based on Apache’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.94 billion and net profit of $195 million. In comparison, last year the company earned revenue of $1.35 billion and had a net profit of $572 million.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APA in relation to earlier this year.
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Apache Corp. operates as an energy company, which engages in the exploration, development and production of natural gas, crude oil, and natural gas liquids. It operates through the following business segments: the United States, Canada, Egypt, North Sea, and Other International.
