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Apache: Analysts’ Recommendations and Target Prices

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Analysts’ recommendations

Based on Reuters data, among the 31 analysts tracking Apache (APA), 48% recommended a “hold,” 26% recommended a “buy,” and 26% recommended a “sell.” On May 30, Stephens reduced its target price on the stock by $2 to $44. On May 16, UBS increased its target price on the stock by $2 to $30. On May 30, Apache stock closed at $26.18.

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Mean target price

Analysts’ mean target price for Apache is ~$36.6, which implies a potential upside of ~39.8% based on its last closing price. EOG Resources (EOG) and Noble Energy’s (NBL) target prices suggest potential upsides of 44.1% and 53.5%, respectively.

Moving averages

On May 30, Apache closed 12.6%, 20.8%, 19.9%, and 27.3% below its 20-day, 50-day, 100-day, and 200-day moving averages, respectively. On the same day, Apache’s 50-day moving average was 8.2% lower than its 200-day moving average. In technical terms, the crossover is called a “death cross.” Usually, a death cross is followed by weakness in the prices.

On May 30, natural gas’s 50-day moving average was 15% lower than its 200-day moving average. On the same day, US crude oil’s 50-day moving average was 3% higher than its 200-day moving average. In the last quarter, Hess operated with a production mix of ~63% in oil-linked commodities and the rest in natural gas.

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