Opinions
Genevieve Roch-Decter
Apache Corp
APA-N
COMMENT
Sep 25, 2014
$93.310
Stock price when the opinion was issued
oil
gas
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Stockchase Research Editor: Michael O'Reilly
The 400,000 boed oil and gas producer with production in the US Permian, Egypt, and the North Sea recently reported a 42% increase in net income. It trades at 6x earnings, under 2x book and supports a robust 79% ROE. Its dividend is backed by a payout ratio under 15% of cash flow. We recommend setting a stop-loss at $22, looking to achieve $39 -- upside potential of 36%. Yield 3.7%
(Analysts’ price target is $39.08)
oil
gas
They decided they would not go forward with the LNG project. They are looking to spin out that project. Depending on what happens with LNG tax in BC, there could be value there.