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What Are Wall Street’s Forecasts for Apache after 3Q15 Earnings?

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Consensus ratings for APA

In this series, we saw that Apache’s (APA) stock reacted negatively following its latest quarterly earnings release. Now let’s look at Wall Street’s forecasts for Apache following its 3Q15 earnings release.

Approximately 42% of analysts tracking Apache rate it a “buy” or some equivalent. Approximately 49% rate the company a “hold” or an equivalent while 9% of analysts recommend a “sell.” Apache makes up 0.1% of the SPDR S&P 500 ETF (SPY).

In comparison, approximately 64% of analysts tracking Whiting Petroleum (WLL) rate it a “buy” or some equivalent, and approximately 36% rate it a “hold.”

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Analyst targets for APA

Now we’ll discuss Wall Street analysts’ target prices for Apache following its 3Q15 financial results. Raymond James, an independent financial services company, gave APA a target price of $57. APA currently trades near $54, so the target implies a ~6% return over the next 12 months.

RBC Capital Markets, a part of the Royal Bank of Canada, gave APA a target price of $62. This is one of the highest target prices for APA. This implies a 15% return over the next 12 months.

UBS (UBS), a Swiss global financial services company, gave APA a one-year target price of $51. This is one of the lowest target prices for APA, implying a negative 5.5% return. American investment bank Morgan Stanley (MS) gives APA a 12-month target of ~$58. This implies a 7.5% return from APA over the next 12 months. Barclays (BCS), another investment bank, gave APA a 12-month target price of $53, which implies a negative 2% return at APA’s current price.

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