Apache (APA) Stock Gains, Occidental Petroleum Said to Acquire
NEW YORK (TheStreet) -- Shares of Apache (APA) - Get Report are climbing 5.15% to $57.95 on Wednesday morning as Occidental Petroleum (OXY) will announce a takeover of the oil and gas company in a deal thought to be worth at least $25 billion, according to Oil and Gas People.
Houston-based Apache is expected to announce the takeover to staff at a town hall meeting later today, Oil and Gas People reports.
Apache is a good fit for Occidental as it looks to focus on the North American market, the publication notes.
Shares of Houston-based Occidental Petroleum are down 1.11% to $75.49 at the start of trading on Wednesday.
Occidental Petroleum is a Houston-based oil and gas exploration and production company.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on Apache stock.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, poor profit margins, generally disappointing historical performance in the stock itself and generally high debt management risk.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: APA
