APA Corporation has been making significant moves, announcing to acquire Callon Petroleum in a
$4.5 billion deal, attributing to increased production in the
Permian basin. In addition, they have sold
non-core Permian,
Eagle Ford assets worth
$700 million, and made a $2 billion upstream investment on global oil & gas production, strengthening its financial position. Despite certain losses and underperforming market conditions, APA Corp. outperformed most competitors. On the financial side, the company missed Q1 2024 EPS estimates amidst operational challenges leading to disappointing production guidance. The enterprise looks promising, illustrated by its additional boost in production following the Callon Petroleum acquisition. Various entities like Franklin Resources Inc., D.A. Davidson & CO, PNC Financial Services Group, and others have shown confidence by raising or buying positions in the APA Corp. Despite some challenges, the general recommendations by brokerages is to 'hold'. APA Corp. consistently declared
cash dividends on common shares cementing its strong industry position.
Apa Corporation APA News Analytics from Tue, 11 Jul 2023 07:00:00 GMT to Thu, 30 May 2024 15:06:50 GMT -
Rating 7
- Innovation -5
- Information 8
- Rumor -7
