Latest news with #APACorp
Reuters
4 days ago
- Business
- Reuters
Oil producer APA's quarterly profit beats estimates on natgas higher output
Aug 6 (Reuters) - APA Corp (APA.O), opens new tab beat Wall Street profit estimates on Wednesday, as higher natural gas output helped the U.S. producer cushion the hit from a decline in crude prices. Brent crude averaged about 20% lower in the second quarter compared to a year earlier, weighed down by U.S. import tariffs, concerns over global economic growth, rising OPEC+ supply and persistent geopolitical tensions. Prices briefly rose above $80 a barrel in June after Israel struck Iranian nuclear sites, but later retreated to around $67 by quarter-end. The company's total oil output declined in the quarter to 235,244 barrels of oil per day (bopd) from last year's 253,649 bopd, offset by a 7% rise in natural gas output. The Houston, Texas-based company posted adjusted profit of 87 cents per share for the three months ended June 30, compared with the average analysts' estimate of 48 cents per share, according to data compiled by LSEG.
Yahoo
31-07-2025
- Business
- Yahoo
Permian Resources (PR): Among the Best Crude Oil Stocks to Buy Now
Permian Resources Corporation (NYSE:PR) is included among the Best Crude Oil Stocks to Buy According to Hedge Funds. A row of massive oil rigs in a desert landscape, against a setting sun. One of the fastest-growing companies in the American crude oil sector, the share price of Permian Resources Corporation (NYSE:PR) has gained by more than 1,600% over the last five years. The oil producer continues to expand its portfolio and announced in May that it had reached an agreement to buy core assets in the Delaware basin from APA Corp. The deal, valued at $608 million, added 13,320 net acres, 8,700 net royalty acres, and 12,000 Boe/d to PR's portfolio. The key strength of Permian Resources Corporation (NYSE:PR) lies in its low breakeven cost of $40 per barrel, allowing it to remain profitable and grow even during times of high price volatility. Moreover, the company revealed that it has approximately 25% of 2025 oil production hedged at a price just above $73 per barrel, allowing it to be more opportunistic during a downturn when investments can earn the highest return. Permian Resources Corporation (NYSE:PR) is also known for its high shareholder returns and, as of the writing of this piece, boasts a hefty annual dividend yield of 4.79%, putting it among the 12 Best Oil and Gas Dividend Stocks to Buy Now. Artisan Partners stated the following regarding Permian Resources Corporation (NYSE:PR) in its Q1 2025 investor letter: 'We made one new purchase this quarter, adding Permian Resources Corporation (NYSE:PR), an independent oil and gas company. PR is focused solely on the Delaware Basin of West Texas and southwestern New Mexico—the most prolific oil-producing region in the US. The founders and co CEOs, who also have large ownership interests in the business, have sought to build a business that can produce substantial free cash flow, return capital to shareholders and generate attractive equity returns across varied commodities price environments. To achieve these goals, PR has pursued best-in-class operations and responsible capital stewardship by thoughtfully acquiring assets it believes are undervalued and divesting acreage it believes would be better in someone else's hands, while meaningfully returning capital to shareholders in the form of dividends. We always seek to align ourselves with shareholder-oriented management teams, but this is even more critical when investing in mid-sized energy companies given their dependence on the underlying commodity prices and minimal diversification by business and geography as well as the sector's general predilection for reinvesting capital for growth rather than returns. Shares were rangebound for much of 2024 as macro fears have weighed on oil prices and energy sector stocks, giving us an opportunity to purchase a strong operator at a favorable price.' Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company with operations focused in the Permian Basin, with assets concentrated in the core of the Delaware Basin. While we acknowledge the potential of PR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and The 5 Energy Stocks Billionaires are Quietly Piling Into. Disclosure: None.
Business Insider
13-07-2025
- Business
- Business Insider
APA Corp. price target raised to $19 from $17 at Jefferies
Jefferies raised the firm's price target on APA Corp. (APA) to $19 from $17 and keeps a Hold rating on the shares as part of a Q2 preview. The firm expects the company's Q2 report to be solid but slightly below consensus. APA's Egypt oil outlook coupled with Permian cost progress will likely be in focus for investors, the analyst tells investors in a research note. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Bloomberg
08-05-2025
- Business
- Bloomberg
APA Reaches Deal to Sell New Mexico Assets to Permian Resources
APA Corp., a US oil explorer with wells from Egypt to Alaska, said it's selling some of its assets in the world's busiest shale patch to Permian Resources Corp. as it streamlines its portfolio. The transaction covers APA's assets in the New Mexico portion of the Permian Basin, which Permian Resources is paying $608 million, prior to closing adjustments, according to a statement confirming an earlier report by Bloomberg News.
Yahoo
17-04-2025
- Business
- Yahoo
APA Corp. price target lowered to $15 from $20 at Citi
Citi analyst Scott Gruber lowered the firm's price target on APA Corp. (APA) to $15 from $20 and keeps a Neutral rating on the shares after catching up with the company after its recent 8-K and mark-to-market the firm's model for Q1 realizations, share count, expenses, and other items. Citi's Q1 CFPS estimate is $2.76, slightly beneath consensus. The firm expects the Q1 call to focus on the macro/APA's 2025 plan and progress on its cost reduction initiatives, which Citi feels could lean positive. APA may also provide a further update on Alaska exploration activities. Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on APA: Disclaimer & DisclosureReport an Issue APA Corp. price target lowered to $20 from $22 at Morgan Stanley APA Corp. appoints Ben Rodgers as CFO SCHD ETF News, 4/14/2025 APA Corp. price target lowered to $24 from $27 at RBC Capital APA Corp. price target lowered to $14 from $26 at Scotiabank Sign in to access your portfolio
