Apache Downgraded at Deutsche Bank (APA)

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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.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: APA

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