Stock price when the opinion was issued
The chart looks to have a really long double bottom pattern. The chart shows a nice up trend from February with some pretty big swings. You have to have some fortitude and you want to be with the best group. You have to be prepared for some volatility. He would be pretty comfortable buying this today, but you have to be ready as oil can change around.
APA recently surprised analysts with revenues beating expectations by 26% and EPS beating by 93%. Revenues were over $500 million higher, allowing an aggressive amount of debt to be retired. It trades at 6x earnings, 1.2x book and supports a ROE of 26%. We recommend trailing up the stop (from $15.00) to $16.50, looking to achieve $23.50 -- upside potential of 20%. Yield 5.5%
(Analysts’ price target is $23.25)