NEW YORK (TheStreet) -- Shares of Apache Corp. (APA) are up 4.76% to $103.25 in pre-market trade after activist investor Jana Partners LLC, which has built a stake worth over $1 billion in the independent energy company, is calling for them to sell off its international holdings to drill exclusively on American soil, according to the Wall Street Journal.
"Investors are unimpressed by [Apache]'s global diversification and have voted with their feet," Jana wrote in a letter to investors yesterday that was seen by the Journal.
Must Read: Warren Buffett's 25 Favorite Growth Stocks
TheStreet Ratings team rates APACHE CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate APACHE CORP (APA) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: