APACHE CORP. $89 - New York symbol APA

APACHE CORP. $89 (New York symbol APA; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 389.4 million; Market cap: $34.7 billion; Price-to-sales ratio: 2.1; Dividend yield: 0.9%; TSINetwork Rating: Average; www.apachecorp.com) has stopped looking for oil and gas off the coast of Kenya, because it has been unable to find enough to justify developing these fields.

The company now plans to focus on its onshore projects in North America, which should account for 55% of its production in 2013, up from 31% in 2009. That should cut Apache’s risk.

Apache is still a hold.

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