Price Target Update on Apache Corporation (NYSE:APA)

Apache Corporation (NYSE:APA) : The consensus price target for Apache Corporation (NYSE:APA) is $55.83 for the short term with a standard deviation of $8.09. The most optimist securities analyst among the 12 who monitor the stock believes that the stock can reach $66, however, the pessimist price target for the company is $40.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Brokerage Firm, iBERIA Capital Partners, maintains their rating on the shares of Apache Corporation (NYSE:APA). iBERIA Capital Partners has a Sector Perform rating on the shares. As per the latest research report, the brokerage house raises the price target to $60 per share from a prior target of $53. The rating by the firm was issued on May 26, 2016.

Apache Corporation (NYSE:APA): stock turned positive on Thursday. Though the stock opened at $57.14, the bulls momentum made the stock top out at $58.18 level for the day. The stock recorded a low of $56.54 and closed the trading day at $58.16, in the green by 3.07%. The total traded volume for the day was 3,879,827. The stock had closed at $56.43 in the previous days trading.

The company shares have dropped -2.37% from its 1 Year high price. On May 25, 2016, the shares registered one year high at $59.59 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $55.40 and the 200 Day Moving Average price is recorded at $47.32. On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the officer (Exec. Vice President) of Apache Corp, Harris Margery M had purchased shares worth of $46,830 in a transaction dated on August 27, 2015. A total of 1,115 shares were purchased at a price of $42 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Apache Corporation (Apache) is an independent energy company, which explores for, develops, and produces natural gas, crude oil, and natural gas liquids. As of December 31, 2014, Apache had exploration and production interests in five countries: the United States, Canada, Egypt, Australia and the United Kingdom. During the year ended December 31, 2014, it participated in drilling 1,478 gross wells, with 1,407 (95%) completed as producers. As of December 31, 2013, in addition to its completed wells, several wells had not reached completion: 318 gross (214.7 net) in the United States; 27 gross (19.0 net) in Canada; 35 gross (32.5 net) in Egypt, and 3 gross (2.2 net) in the North Sea. The Companys operations in United States and Canada are constituted under its North America business, while its International business constitutes its operations in Egypt, Australia and the United Kingdom in the North Sea.

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