APA Stock Recent News
APA LATEST HEADLINES
With the possibility of an interest rate cut by the FED and fairly optimistic targets for the S&P 500 index by the largest analytical groups, investors might be looking for the best opportunities in the stock market for the upcoming 2024.
Crude oil prices have been in a downturn, down 27% from recent highs, but technical indicators suggest the bottom may be near. The US may soon replenish its strategic oil reserves, providing support for oil prices. Geopolitical threats and a potential shift in the Fed's monetary stance could also contribute to higher oil prices in the future.
Disciplined approach to CAPEX is a key driver to capital efficiency going forward. Focus on debt reduction and growth of returns-on-investments is net positive for the balance sheet. Despite lower commodity prices, APA's current share price offers attractive level to initiate or add to positions.
Oil prices continue to be advantageous for upstream enterprises like APA Corp (APA), Diamondback (FANG) and Northern Oil and Gas (NOG).
Dividend-paying stocks in the energy space are relatively less volatile. Stocks that are poised to gain are EOG Resources (EOG), ExxonMobil (XOM) and APA Corporation (APA).
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
APA Corporation (APA) bought back 500,000 shares at $41.90 apiece during the third quarter. The company also shelled out $77 million in dividend payments.
APA (APA) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
The headline numbers for APA (APA) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
APA Corporation (APA) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.