Barclays Downgrades Apache Corporation to Equal-weight with Price Target $49.00

Brokerage firm Barclays Downgrades its rating on Apache Corporation(NYSE:APA). In a research note issued to the investors, the brokerage major Raises the price-target to $49.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Barclays was issued on Aug 5, 2016.

In a different note, CLSA said it Initiates Coverage on Apache Corporation, according to a research note issued on Jun 22, 2016. The shares have been rated ‘Underperform’ by the firm. On May 26, 2016, iBERIA Capital Partners said it Maintains its rating on Apache Corporation. In the research note, the firm Raises the price-target to $53.00 per share. The shares have been rated ‘Sector Perform’ by the firm. On May 16, 2016, Scotia Howard Weil said it Upgrades its rating on Apache Corporation. The shares have been rated ‘Outperform’ by the firm.

Apache Corporation (APA) made into the market gainers list on Wednesdays trading session with the shares advancing 1.29% or 0.66 points. Due to strong positive momentum, the stock ended at $51.63, which is also near the day’s high of $51.94. The stock began the session at $50.81 and the volume stood at 30,73,020 shares. The 52-week high of the shares is $59.59 and the 52 week low is $32.195. The company has a current market capitalization of $19,590 M and it has 37,94,23,070 shares in outstanding.

Apache Corporation(APA) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.38B. Analysts had an estimated revenue of $1.32B. Earnings per share were $-0.26. Analysts had estimated an EPS of $-0.15.

Several Insider Transactions has been reported to the SEC. On Aug 31, 2015, Margery M Harris (Exec. Vice President) purchased 1,115 shares at $42.00 per share price.Also, On Aug 27, 2015, W Kregg Olson (Exec. Vice President) purchased 2,500 shares at $39.50 per share price.On Aug 27, 2015, Stephen J Riney (CFO) purchased 6,000 shares at $39.54 per share price, according to the Form-4 filing with the securities and exchange commission.

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 1478 gross wells with 1407 (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 Company’s 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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