Morningstar Assigns A- Credit Rating to Apache (APA)
Apache (NYSE:APA) has received an “A-” credit rating from analysts at Morningstar. The credit rating agency’s “A-” rating indicates that the company is a low default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on APA. Analysts at Zacks reiterated a “neutral” rating on shares of Apache in a research note on Thursday, August 28th. They now have a $107.00 price target on the stock. Separately, analysts at Alembic Global Advisors upgraded shares of Apache from a “neutral” rating to an “overweight” rating in a research note on Wednesday, August 20th. They now have a $118.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Apache in a research note on Monday, August 4th. They now have a $110.00 price target on the stock, up previously from $90.00. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $110.59.
Apache (NYSE:APA) opened at 101.83 on Tuesday. Apache has a one year low of $77.31 and a one year high of $104.57. The stock’s 50-day moving average is $100.2 and its 200-day moving average is $91.2. The company has a market cap of $38.947 billion and a price-to-earnings ratio of 33.03.
Apache (NYSE:APA) last released its earnings data on Thursday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.01. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, analysts predict that Apache will post $6.68 earnings per share for the current fiscal year.
Apache Corporation (NYSE:APA) is an independent energy company, which explores for, develops, and produces natural gas, crude oil, and natural gas liquids.
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