Deutsche Bank reported on Monday that they have downgraded energy company, Apache Corporation(APA).
The firm has downgraded the APA from a “buy” to a “hold,” and has given the company a price target of $90. This price target suggests a 15% increase from the stock’s current price of $75.75.
Analysts see the APA executing operational trends, which may not have the highest benefit for the company.
Apache shares were down 76 cents, or -0.99% during premarket trading Monday. The stock is down -15% YTD.
The Bottom Line
Shares of Apache Corp (APA) have a .89% dividend yield, based on Friday’s closing stock price of $76.51. The stock has technical support in the $71-$74 price area. If the shares can firm up, we see overhead resistance around the $80-$83 price levels.
Apache Corporation(APA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.