Erinn sells APA 38.2: As of December 31, 2014, Apache had production and exploration interests in five states: Canada, the Usa, Egypt, Australia along with the United Kingdom.

They issued a buy rating and a $53.00 price target on the stock. Finally, Goldman Sachs assumed coverage on Apache in a research note on Monday, June 8th. Barclays restated a buy rating and set a $58.00 price target (down from $59.00) on shares of Apache in a research report on Monday, July 13th. Citigroup Inc. raised Apache from a neutral rating to a buy rating and cut their price target for the company from $68.00 to $62.00 in a report on Friday, July 17th. The Motley Fool owns shares of Freeport-McMoRan Copper & Gold.


Tamiko:
The end result is a portfolio that has a lot less risk and is much more flexible as the company can ramp down its investments during the downturn while quickly ramping up in a recovery.

Majorie:
If prices improve, it can ramp up its growth and fully capture the upside to higher prices.

Tonda:
Under really weak prices, it can simply live within its cash flow and maintain stable production.

Waltraud:
Because Apache has so much more flexibility now, it is establishing medium- and long-term development goals based on three different oil and gas price scenarios.

Martha:
That degree of flexibility isn't found at Anadarko and Freeport-McMoRan as both are locked in to funding longer-term projects.

Selene:
It was that flexibly that enabled Apache to cut its 2015 capex budget by 60% over last year's amount, helping the company maintain a solid balance sheet and liquidity position during the downturn.

Vernia:
Because of that speed, the investment to drill more wells can be increased or decreased quickly when commodity prices move.

Solange:
On the other hand, much of Apache's North American onshore growth is coming from horizontal shale wells that can be drilled and turned into production in a matter of months.

Janell:
This forced the company to scramble for other options to fund its other Gulf of Mexico developments, including its portion of Heidelberg, which Anadarko still expects to come online next year.

Harriet:
It was a steep drop that really caught new owner Freeport-McMoRan off guard as its cash flow is now much less than it was anticipating.

Apache Corp. (NYSE:APA)
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