Barclays Remains a Sell on Apache

By Ryan Adsit

In a report issued on December 21, Thomas Driscoll from Barclays maintained a Sell rating on Apache (NYSE: APA), with a price target of $32. The company’s shares closed on Friday at $42.91, close to its 52-week low of $38.14.

According to TipRanks.com, Driscoll is a 4-star analyst with an average return of 5.2% and a 56.7% success rate. Driscoll covers the Basic Materials sector, focusing on stocks such as Quicksilver Resources Inc, Continental Resources, and Gulfport Energy Corp.

Currently, the analyst consensus on Apache is Moderate Sell and the average price target is $40.33, representing a -6.0% downside.

In a report issued on December 20, Jefferies also reiterated a Sell rating on the stock with a $35 price target.

Based on Apache’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.39 billion and quarterly net profit of $63 million. In comparison, last year the company earned revenue of $1.44 billion and had a GAAP net loss of $607 million.

Based on the recent corporate insider activity of 66 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.

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.