Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, November 13, 2015

Article Excerpt

APACHE CORP., $48.97, New York symbol APA, fell 8% after rival oil producer Anadarko Petroleum (New York symbol APC) withdrew its merger offer. Savings from eliminating overlapping functions would have helped the combined firm cope with weak oil prices. Meanwhile, Apache produced 486,409 barrels of oil equivalent a day in the three months ended September 30, 2015, up 6.8% from 455,295 a year earlier. The gain mainly came from improving efficiency at the company’s international operations, including its offshore wells in the North Sea. However, lower oil prices resulted in a $0.05-a-share loss, compared to a profit of $1.27 a share a year earlier. Even so, that was much better than the consensus estimate of a $0.36-a-share loss. Revenue dropped 56.5%, to $1.5 billion from $3.4 billion. OUR RECOMMENDATION: Apache is still a hold. Apache recent coverage September 2015 issue May 2015 issue BHP BILLITON LTD. ADRs, $28.41, New York symbol BHP, owns 50%…