Wells Fargo analyst Roger Read maintains $Apache (APA.US)$ with a buy rating, and adjusts the target price from $49 to $47.
According to TipRanks data, the analyst has a success rate of 54.2% and a total average return of 7.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Apache (APA.US)$'s main analysts recently are as follows:
The exploration and production group estimates have been adjusted to reflect current commodity price assessments and investment perspectives. With a long-term outlook that anticipates steady prices for Brent and Henry Hub, there's potential for the E&P sector to maintain robust capital efficiency into 2025. This could be possible if operational efficiencies continue and service costs continue to decrease, potentially counteracting the effects of resource maturity.
The possibility exists that in a period of globally synchronized monetary easing, energy commodities and their related equities might not participate due to challenging industry fundamentals and anticipated market imbalances by 2025. Nevertheless, there is a belief that opposing central bank policies or governmental interventions may not be prudent, with an expectation that the crude oil market has a propensity for positive deviation. In the immediate term, as the end of the quarter approaches, there is an anticipation of updates that could reveal lower projections for the near-term.
Note:
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