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Stifel Nicolaus Believes APA (APA) Still Has Room to Grow

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In a report issued on May 6, Michael Scialla from Stifel Nicolaus maintained a Buy rating on APA (APAResearch Report), with a price target of $59.00. The company’s shares closed last Friday at $44.11, close to its 52-week high of $45.27.

According to TipRanks.com, Scialla is a 2-star analyst with an average return of 0.5% and a 38.3% success rate. Scialla covers the Utilities sector, focusing on stocks such as Whiting Petroleum Corporation, Occidental Petroleum, and Matador Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for APA with a $52.94 average price target, which is a 26.1% upside from current levels. In a report issued on April 21, Evercore ISI also maintained a Buy rating on the stock with a $52.00 price target.

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Based on APA’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.3 billion and net profit of $471 million. In comparison, last year the company earned revenue of $1.22 billion and had a net profit of $30 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is neutral on the stock.

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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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