APA Corporation has had a mixed streak lately with its share price being lowered to $24 from $29 at Citi. The Q3 profits narrowly missed estimates, resulting in a reduction in the 2025 capital forecast. Despite this, they outperformed competitors on a strong trading day and announced their intention to leverage AI technology across Oil and Gas operations through a partnership with Palantir. With institutional shareholders owning 86% of the company, they remain a significant player in the market.
The company underwent strategic moves amid Q3 2024 results which provided hope despite. They also looked into selling their Permian assets for $950 million. However, the stock underperformed compared to competitors on some days, and the company was faced with market challenges as its stock reached a 52-week low at $22.66. APA Corporation also made administrative changes with the retirement of their general counsel and the appointment of a new board member.
The corporation ended the quarter with plans to reduce capital to $2.5B-$2.6B in 2025. APA and TotalEnergies also announced a joint venture offshore Suriname.
Apa Corporation APA News Analytics from Thu, 08 Feb 2024 03:41:33 GMT to Sat, 30 Nov 2024 09:54:46 GMT - Rating 2 - Innovation 3 - Information 5 - Rumor -2
