Stifel Nicolaus Downgrades Apache Corp to “Hold” Due to Exposure to Egypt (APA)
Analysts at Stifel Nicolaus downgraded Apache Corporation (APA) early on Monday, as the oil company has significant exposure to the political and military conflict in Egypt.
The analysts downgraded APA from “Buy” to “Hold” and sees shares reaching $90. This price target still suggests a 14% upside to the stock’s Friday closing price of $78.99.
Apache shares were down 85 cents, or 1.08%, during pre-market trading on Monday. The stock is about flat year-to-date.
The Bottom Line
Shares of Apache Corp (APA) offer a dividend yield of 1.01% based on Friday’s closing price of $78.99 and the company’s annualized dividend payout of 80 cents per share.
Apache Corporation (APA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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