Apache Corp. (NYSE: APA) Price Target Raised at Jefferies Group

Apache Corp. (NYSE: APA) had its price target raised by equities researchers at Jefferies Group from $42.00 to $47.00.Jefferies Group currently has a rating of Underperform on the stock. A number of other analysts have spoken on the company in recent days, and the company has earned a consensus one-year price target of $57.26, lower than the opening price of $59.08, a difference of 9.56 percent. Apache Corp. stock has a 52-week high of $60.19.

U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.

The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.

The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.

Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares

Share prices sometimes get a bounce to the upside when analysts inititate coverage.

Shares of Apache Corp. (NYSE: APA) opened at $59.08 yesterday and traded in a range between, $58.30 and $60.19, and last traded at $59.90, which represents a change of $ 0.50 over the previous closing price.

Apache Corp. (NYSE: APA) currently has a market cap of 22.73B

The stocks average daily volume is 3,327,940 shares out of a total float 378,728,000 of and some 6,267,853 shares crossed the trading desk yesterday, 90 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.

With that in mind Apache Corp. (NYSE: APA) now has a 50-day MA is $52.15 and 200-day MA is $52.64, and it has traded in a 52-week range between $32.20 – 60.19 and today’s last price is 0.00 percent off the 52 week high of $60.19.

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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