Scotia Capital Neutral On Apache Corporation

Scotia Capital is out with a research report on Apache Corporation

and it has a Sector Perform rating and a $125 price target. In a note to clients, Scotia Capital writes, "The company continues to build up its vast portfolio of assets with significant exploration and development activity in all regions. This portfolio diversity was highlighted in the current quarter as production disruptions in several regions was more than offset by enhanced recoveries in others. After a year of acquisitions, we expect the company will continue the integration process with a focus on its onshore U.S. developments and further defining the scope of its international properties." Shares of APA closed at $106.70 on Friday.