Morgan Stanley Sticks to Its Buy Rating for APA (APA)

Morgan Stanley analyst Devin McDermott maintained a Buy rating on APA (APAResearch Report) today and set a price target of $54.00. The company’s shares closed last Friday at $40.18.

McDermott covers the Utilities sector, focusing on stocks such as Chevron, Conocophillips, and Diamondback. According to TipRanks, McDermott has an average return of 13.1% and a 58.72% success rate on recommended stocks.

Currently, the analyst consensus on APA is a Strong Buy with an average price target of $53.38, a 32.85% upside from current levels. In a report released on August 26, MKM Partners also maintained a Buy rating on the stock with a $50.00 price target.

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The company has a one-year high of $51.76 and a one-year low of $18.22. Currently, APA has an average volume of 8.5M.

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Apache Corp. operates as an energy company, which engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company was founded by Truman Anderson, Raymond Plank, and Charles Arnao on December 6, 1954 and is headquartered in Houston, TX.

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