In a report released yesterday, Jeanine Wai from Barclays maintained a Hold rating on Apache (APA), with a price target of $8.00. The company’s shares closed last Monday at $5.58, close to its 52-week low of $3.80.
According to TipRanks.com, Wai has currently no stars on a ranking scale of 0-5 stars, with an average return of -30.4% and a 15.7% success rate. Wai covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Occidental Petroleum.
Apache has an analyst consensus of Moderate Buy, with a price target consensus of $21.17, which is a 340.1% upside from current levels. In a report issued on March 9, SunTrust Robinson also downgraded the stock to Hold with a $22.00 price target.
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Based on Apache’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.63 billion and GAAP net loss of $2.96 billion. In comparison, last year the company earned revenue of $1.7 billion and had a GAAP net loss of $381 million.
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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. The company was founded by Truman Anderson, Raymond Plank, and Charles Arnao on December 6, 1954 and is headquartered in Houston, TX.
