Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, July 5, 2013

Article Excerpt

APACHE CORP., $82.17, New York symbol APA, produces oil and gas in the U.S., Canada, the U.K., Australia, Egypt and Argentina. The stock fell 2% this week on concerns that political uncertainty in Egypt could disrupt the company’s operations in that country. Egypt accounted for 27% of Apache’s revenue in 2012. The unrest could also make it harder for the company to sell its Egyptian assets, which had a book value of $7.3 billion as of December 31, 2012. To put that in context, Apache’s current market cap (or the value of all its outstanding shares) is $32.2 billion. Moreover, the company may have to write off the value of some or all of these holdings if the Egyptian government decides to nationalize Apache’s operations. However, if that were to happen, insurance policies would cover $1 billion of these losses. Apache is still a hold. Please make sure you are logged in to your account to access these articles. Click here if you’ve lost…