Barclays analyst Betty Jiang maintains $Apache (APA.US)$ with a hold rating, and maintains the target price at $35.
According to TipRanks data, the analyst has a success rate of 43.2% and a total average return of -1.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Apache (APA.US)$'s main analysts recently are as follows:
Estimates in the integrated oil and exploration and production group were adjusted to mirror a reduction in oil price forecasts, which impacts future projections. Despite the recent sector pullback, there is a belief that the risk/reward balance for stocks is tilting towards the upside, given that company fundamentals and operational momentum are perceived to be strong.
Adjustments have been made to the exploration and production group's estimates to reflect revised commodity price forecasts and the investment landscape. The long-term expectations for Brent and Henry Hub remain at $80 and $3.50, respectively. If operational efficiencies continue and service costs decline further, exploration and production companies may maintain enhanced capital efficiency until 2025, which could potentially counterbalance the effects of resource maturity.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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