Scotia Capital Has Sector Perform on Apache

Scotia Capital is out with a research report on Apache

and it has a Sector Perform rating and a $105 price target on shares. In a note to clients, Scotia Capital writes, "Production of 752 Mboe/d was in line with our estimate of 755 Mboe/d. Strong realized prices in the quarter were largely due to the company's significant exposure to liquids rich plays that receive Brent pricing." Shares of APA closed at $101.60 on Friday.