Analysts’ recommendations for Apache
In the weeks leading up to Apache’s (APA) 1Q16 earnings release, Wall Street analysts have provided target prices for the next 12 months.
Consensus rating for Apache
About 33% of Wall Street analysts rate Apache (APA) a “buy,” ~55% rate it a “hold,” and ~12% rate it a “sell.” The average broker target price of $48.72 for Apache implies a return of around 15% in the next 12 months.
Upstream peers Cimarex Energy (XEC), Concho Resources (CXO), and Hess (HES) have average broker target prices of $107.21, $116.90, and $60.04, respectively. These figures imply returns of -3.6%, -1.6%, and -5%, respectively, in the next 12 months.
High, low, and median analyst target prices for Apache are $65, $33, and $50, respectively. Apache is a component of the iShares US Oil & Gas Exploration and Production ETF (IEO). IEO invests ~4% of its portfolio in the company.
Analysts’ target prices for APA
Raymond James and Tudor, Pickering, Holt & Co. gave Apache some of the most optimistic target prices, of $65 and $59, respectively. These imply returns of around 16% and 6% in the next 12 months.
Credit Suisse (CS) and RBC Capital Markets gave APA lower target prices, of $55 and $54, respectively. These imply returns of around -1.6% and -3.3% in the next 12 months.
Evercore ISI and Capital One Securities gave APA lower target prices of $47 and $44, respectively, implying returns of around -16% and -21% in the next 12 months. One of the lowest targets was given by Jefferies, which gave Apache a target price of $35. This implies returns of -37% over the next year.