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Apache Corp Stock: Gauging Wall Street Forecasts

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Consensus ratings for Apache Corp

The majority of analysts—approximately 61% —have rated Apache Corp (APA) a “hold.” The average target price of $65.59 for APA implies a return of ~13% over the next 12 months.

Apache Corp’s (APA) high target price stands at $79, and its low target price is ~$50.

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Recent upgrades and downgrades

On February 3, 2017, Macquarie downgraded its rating for APA from “neutral” to “underperform.” Citigroup downgraded its rating for APA from “buy” to “neutral” on August 9, 2016.

Peer Whiting Petroleum (WLL) was recently downgraded by Wells Fargo. On December 16, Wells Fargo downgraded its rating for WLL from “outperform” to “market perform.” Stifel upgraded its rating for WLL from “hold” to “buy” on December 1.

Continental Resources (CLR) was recently downgraded by Deutsche Bank and JPMorgan Chase (JPM). On December 8, Deutsche Bank (DB) downgraded its rating for CLR from “buy” to “hold.” On the same day, JPMorgan Chase downgraded its ratings for CLR from “overweight” to “neutral.”

Wall Street forecasts for 4Q16

For 4Q16, analysts have projected an average earnings estimate of $0.08 per share for APA. The low estimate stands at around -$0.16 per share while the high estimate stands at $0.43 per share. The average revenue estimate for APA is ~$1.5 billion for 4Q16, whereas the low revenue estimate stands at ~$1.3 billion. The high revenue estimate stands at ~$1.6 billion. See How Did Apache’s Stock Perform after Its 3Q16 Earnings Release? to learn how APA performed in 3Q16.

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