Apache Gets a Sell Rating from Jefferies

By Austin Angelo

Jefferies analyst Michael Hsu reiterated a Sell rating on Apache (NYSE: APA) today and set a price target of $40. The company’s shares opened today at $50.97.

According to TipRanks.com, Hsu is a 1-star analyst with an average return of -4.5% and a 31.6% success rate. Hsu covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Continental Resources, and Gulfport Energy Corp.

Apache has an analyst consensus of Hold, with a price target consensus of $56.25.

Based on Apache’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.51 billion and quarterly net profit of $213 million. In comparison, last year the company earned revenue of $1.06 billion and had a GAAP net loss of $489 million.

Based on the recent corporate insider activity of 56 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. Most recently, in November 2016, James L. House, the Sr. RVP – Houston Region of APA sold 8,000 shares for a total of $506,960.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom. The company was founded by Truman Anderson, Raymond Plank, and Charles Arnao on December 6, 1954 and is headquartered in Houston, TX.