Wolfe Research analyst Doug Leggate maintains $Apache (APA.US)$ with a buy rating, and adjusts the target price from $42 to $39.
According to TipRanks data, the analyst has a success rate of 56.2% and a total average return of 9.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Apache (APA.US)$'s main analysts recently are as follows:
Estimates for the integrated oil and exploration and production group have been adjusted due to a decrease in oil price forecasts, with a $10 per barrel reduction projected for 2025 and a $5 reduction for 2026. Despite the recent sector pullback, there is an inclination towards positive risk/reward for stocks, as company fundamentals and operational momentum are perceived to be robust.
Adjustments in the exploration and production group's estimates reflect updated commodity price decks and investment outlook. Long-term oil and gas price deck expectations continue at a certain level for Brent and Henry Hub. If operational efficiency gains continue and service costs decrease further, the exploration and production companies could maintain stronger capital efficiency into the future. This might counterbalance the effects of resource maturity.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
