APA has a last four-quarter earnings surprise of 4.1%, on average, having surpassed the Zacks Consensus Estimate on two occasions and missing on the other two.
APA (APA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Oil prices are sliding on the heels of Israel's attack on Iran over the weekend.
Shares of companies impacted by the price of oil were among the biggest movers in the S&P 500 Monday as crude futures sank after a weekend retaliatory strike against Iran by Israel didn't hit Iran's oil facilities.
Driven by strong initial progress in well performance and overhead, APA raised its Callon synergy target by 66% to $250MM annually, implying a present value worth ~55% of deal value. Management also continues to streamline the business, selling off $950MM worth of non-core U.S. assets, which are expected to lower domestic lease unit costs by ~10%. With the first Suriname FPSO now officially sanctioned, we remain firmly Overweight but decrease our price target to $36/sh on a lower price deck (~46% price upside).
ExxonMobil's, APA, TotalEnergies', Eni SpA and EQT are included in this Analyst Blog.
APA Corporation, formerly Apache, is a mid-sized oil and gas company with operations in the US, Egypt, and North Sea. Major events in 2024 include an acquisition adding production in the Permian Basin, and a development commitment for offshore Surinam. APA currently offers a 3.7% dividend and a potential 30% capital gain.
APA (APA) concluded the recent trading session at $26.89, signifying a +1.36% move from its prior day's close.
Oil stocks are looking to move higher, with Halliburton in the mix.
As oil prices remain elevated, companies like Northern Oil and Gas (NOG), APA, and Devon (DVN) are poised to capitalize on increased exploration and production activities.
APA and TTE will undertake a project for oil production: Suriname's offshore energy sector is set for a transformation with the $10.5 billion Block 58 project.
Could rebounds be in store for these beaten-down stocks?