Apache Gets a Sell Rating from Jefferies

In a report issued on October 9, Steven Desanctis from Jefferies reiterated a Sell rating on Apache (NYSE: APA), with a price target of $38. The company’s shares closed yesterday at $41.96, close to its 52-week low of $38.14.

According to TipRanks.com, Desanctis is a 3-star analyst with an average return of 3.7% and a 58.0% success rate. Desanctis covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Baker Hughes a GE company, and Martin Marietta Materials.

Currently, the analyst consensus on Apache is Moderate Sell and the average price target is $43.57, representing a 3.8% upside.

In a report released yesterday, Barclays also maintained a Sell rating on the stock with a $26 price target.

The company has a one-year high of $69 and a one-year low of $38.14. Currently, Apache has an average volume of 3.53M.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom.