Apache gained 5.7% to $44.22 today, while the S&P 500 dipped 0.2% to 2642.22. The Energy Select Sector SPDR ETF (XLE) rose 0.8% to $69.68, making it the market’s best performing sector today.
Capital Economics’ Oliver Jones and Thomas Pugh don’t see oil prices rising much higher despite their 37% rally off of this year’s low:
Apache’s market capitalization rose to $16.8 billion today from $15.9 billion yesterday. It reported a net loss of $1.4 billion on sales of $5.4 billion in 2016.