Apache shares could rise 20 percent - Barron's

Reuters

June 22 (Reuters) - Shares in Apache Corp, an independent energy exploration and production company, are lagging behind competitors' and could gain 20 percent to 30 percent, Barron's reported in its June 23 edition.

Apache, whose shares are up 16 percent this year, is trading at a discount to competitors like Noble Energy and could gain 20 percent to 30 percent, the financial news weekly said.

John Williams, an analyst at T. Rowe Price, told Barron's the company is starting to hit its stride and that the stock has a net asset value of $125.

Apache shares closed on Friday at $100.73 on the New York Stock Exchange.

(Reporting by Caroline Humer; Editing by Nick Zieminski)

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