59 stories mentioning APAUpdated 2d ago
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APA (APA) has an average rating of hold and mean price target of $42.36, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Higher oil prices earlier this year prompted Permian Basin producers to boost oil output, generating more byproduct natural gas than pipelines could handle and forcing companies to pay buyers to take the gas, according to a report from The Wall Street Journal on Wednesday.First-half Permian gas prices averaged negative $2.19 per million British thermal units, while Diamondback Energy (FANG) said its gas sales averaged negative $2.15 per thousand cubic feet during the second quarter despite strong oil prices, and Devon Energy (DVN) and APA (APA) curtailed output.Some companies have instead looked for ways to use more gas within the basin. Matador Resources (MTDR) has expanded the use of its own gas to power drilling operations, while Chevron (CVX) plans to build a gas-fired power plant in West Texas to supply electricity to a nearby Microsoft data center.Diamondback Energy, Devon Energy, APA, Matador Resources, and Chevron did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumors and speculation. Accuracy is not guaranteed.)Price: $204.44, Change: $+4.64, Percent Change: +2.32%
APA (APA) has an average rating of hold and mean price target of $42.44, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $42.44, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $42.68, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $42.96, according to analysts polled by FactSet.Price: $34.34, Change: $-0.19, Percent Change: -0.55%
UBS maintained a positive long-term outlook for crude oil and natural gas, saying energy stocks remain undervalued despite improving commodity fundamentals, the firm said in a note on Monday.UBS continues to expect stronger 2027 crude oil and natural gas prices than implied by current forward strips of $71 per barrel for West Texas Intermediate and $3.35 per million British thermal units for Henry Hub.The firm assessed producers across scenarios ranging from $55-$65/bbl Brent, $51-$81/bbl WTI and $2.75-$4.25/MMBtu Henry Hub.Using an 8% free cash flow-to-enterprise value yield and a 5.5x enterprise value-to-EBITDA sector midpoint, UBS estimates exploration and production stocks currently reflect $60 WTI and $3.50 Henry Hub for 2027.Under a $75 Brent and $3.75 Henry Hub scenario, oil producers would generate an average 12.2% free cash flow-to-enterprise value yields and trade at 3.9x enterprise value-to-EBITDA.Gas producers, excluding Comstock Resources (CRK), would generate an average 11.5% free cash flow-to-enterprise value yield and trade at 4.6x enterprise value-to-EBITDA, UBS said.The same commodity deck would leave year-end 2027 net debt-to-EBITDA at about 0.2x to 0.3x if companies maintain current capital return programs.UBS said those valuations remain below the historical 4.5x to 6.5x range, implying more than 20% upside to the 5.5x midpoint.A $10/bbl move in crude oil and a $0.50/MMBtu change in Henry Hub prices would shift average free cash flow-to-enterprise value yields by 450 to 480 basis points.Enterprise value-to-EBITDA multiples could move 0.5x to 0.7x or more, particularly for gas producers, UBS said.UBS kept capital spending and production assumptions unchanged, although WTI prices below $60/bbl and Henry Hub prices below $3/MMBtu would likely prompt exploration and production companies to reduce both investment and output.Since the conflict began, the S&P 500 Energy Index has gained 1.3% but has trailed the broader S&P 500 by 8%. During the same period, front-month WTI has risen 16%, the 2027 WTI forward strip has gained 15%, while the 2027 Henry Hub strip has fallen 10.3%, UBS said.UBS said energy-sector valuations have weakened since the conflict began despite stronger long-term oil prices, with APA (APA) and Chord Energy (CHRD) leading gains, while Comstock Resources, Weatherford International (WFRD) and Gulfport Energy (GPOR) have posted the weakest performance.UBS continues to favor Ovintiv (OVV), Devon Energy (DVN) and Antero Resources (AR) among exploration and production companies, while National Energy Services Reunited remains its top oilfield services pick.Price: $12.87, Change: $-0.37, Percent Change: -2.79%
APA (APA) has an average rating of hold and mean price target of $42.96, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $42.96, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $42.96, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $43.44, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $44.04, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
APA (APA) has an average rating of hold and mean price target of $44.24, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $33.16, Change: $-0.26, Percent Change: -0.78%
APA (APA) shares were up more than 3% in Monday trading after Roth Capital Partners upgraded the company's stock to buy from neutral and raised its price target to $38 from $37.Trading volume stood at about 4 million shares against a daily average of roughly 7.3 million.Price: $34.04, Change: $+1.01, Percent Change: +3.06%
APA (APA) has an average rating of hold and mean price target of $43.92, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index rising 1.9% and the State Street Energy Select Sector SPDR ETF (XLE) climbing 1.8%.The Philadelphia Oil Service Sector Index was adding 0.7%, and the Dow Jones US Utilities Index decreased 0.1%.Crude oil prices rose Wednesday after President Donald Trump said Iran will have to "pay the price" for taking too long to agree to a peace deal. US forces launched airstrikes Tuesday against Iran after Tehran shot down an American Apache helicopter, Central Command said. Iran launched retaliatory strikes on American military bases across Jordan, Kuwait, and Bahrain, media reports said.Front-month West Texas Intermediate crude oil rose 2.5% to $90.42 a barrel, and the global benchmark Brent crude contract added 2.1% to $93.41 a barrel. Henry Hub natural gas futures advanced 1.2% to $3.18 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 15.2 million barrels in the week ended June 5 following a decrease of 16.0 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 7.2 million barrels after an 8.0-million-barrel decline in the previous week and compared with a 2.2-million-barrel decrease expected in a survey compiled by Bloomberg.Separately, OpenAI is in advanced talks to lease a proposed 10-gigawatt data center campus on federal land in Ohio, The Information reported. The AI company is discussing a 20-year lease for the site, which is currently being developed by SoftBank Group unit SB Energy on US Department of Energy property, the report said.In corporate news, Devon Energy (DVN) shares jumped nearly 6% after Evercore ISI upgraded the stock to outperform from in line with a $54 price target. Devon said it expects the combined company following its merger with Coterra Energy to produce an average of 1.38 million barrels of oil equivalent per day in 2026, including 500,000 barrels per day of oil.APA (APA) shares gained 4.3% after the company said Wednesday it has agreed to acquire Savant Alaska for about $70 million in upfront consideration, plus contingent payments related to the development of APA's eastern North Slope portfolio.Petrobras (PBR) agreed to acquire a 50% stake in the Itaimbezinho block in the offshore Campos Basin in southeastern Brazil from Equinor (EQNR) unit Equinor Brasil Energia for an undisclosed amount. Petrobras shares rose 2.1%, and Equinor climbed 2.7%.Entergy (ETR) shares added 1% after Evercore ISI upgraded the company to outperform from in line and lifted its price target to $121 from $115.
APA (APA) has an average rating of hold and mean price target of $43.78, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $38.09, Change: $+1.48, Percent Change: +4.04%
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.7%.The Philadelphia Oil Service Sector Index was climbing 1.5%, and the Dow Jones US Utilities Index increased 0.3%.Crude oil prices rose Wednesday after President Donald Trump said Iran will have to "pay the price" for taking too long to agree to a peace deal. "They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price," Trump said in a social media post on Wednesday. US forces launched airstrikes Tuesday against Iran after Tehran shot down an American Apache helicopter, Central Command said. Iran launched retaliatory strikes on American military bases across Jordan, Kuwait, and Bahrain, media reports said.Front-month West Texas Intermediate crude oil rose 3.5% to $91.28 a barrel, and the global benchmark Brent crude contract added 3% to $94.17 a barrel. Henry Hub natural gas futures advanced 2% to $3.20 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 15.2 million barrels in the week ended June 5 following a decrease of 16.0 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 7.2 million barrels after an 8.0-million-barrel decline in the previous week and compared with a 2.2-million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, Devon Energy (DVN) shares jumped past 6% after it said it expects the combined company following its merger with Coterra Energy to produce an average of 1.38 million barrels of oil equivalent per day in 2026, including 500,000 barrels per day of oil.Petrobras (PBR) agreed to acquire a 50% stake in the Itaimbezinho block in the offshore Campos Basin in southeastern Brazil from Equinor (EQNR) unit Equinor Brasil Energia for an undisclosed amount. Petrobras shares rose 2.4%, and Equinor climbed 3.7%.APA (APA) shares rose 4.9% after the company said Wednesday it has agreed to acquire Savant Alaska for about $70 million in upfront consideration, plus contingent payments related to the development of APA's eastern North Slope portfolio.
APA (APA) acquired Savant Alaska for about $70 million upfront, securing 104,000 gross acres and critical North Slope infrastructure that could accelerate future development, TPH Energy Research said in a Wednesday note.APA's eastern North Slope position will increase to about 487,000 gross acres under the transaction, which also includes contingent payments tied to future development activity and is expected to close by the end of 2026, according to TPH.The acquisition adds about 1,500 barrels of oil per day of production from the Badami and Grey Owl units, providing APA with immediate operating output.APA also gains the Badami facilities, with a nameplate capacity of about 40,000 b/d, and the Nutaaq Pipeline, which can transport about 80,000 b/d to the Trans-Alaska Pipeline System.The package includes accommodation facilities, a grind-and-inject system, a barge landing and other field infrastructure that can support operations during the upcoming winter drilling season, TPH said.Management expects the adjacent infrastructure to improve development flexibility, shorten project timelines and reduce future development costs across its Alaska portfolio, according to the report.APA has assumed operatorship of the existing joint venture with Armstrong and Santos and plans to advance exploration and appraisal activity on its North Slope acreage.The company plans a two-well program during the 2026-2027 winter season, including the Chinook exploration well and the Hungry Horse appraisal well to help define the scale of Sockeye.Price: $38.02, Change: $+1.41, Percent Change: +3.85%
Energy stocks were edging higher pre-bell Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.6%.The United States Oil Fund (USO) was up 1.2% and the United States Natural Gas Fund (UNG) was 2.8% higher.Front-month US West Texas Intermediate crude oil was 1.4% higher at $89.40 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.2% to $92.54 per barrel, and natural gas futures were up 2.8% at $3.23 per 1 million British Thermal Units.Devon Energy (DVN) stock was up more than 1% after the company said it expects the combined company following its merger with Coterra Energy to produce an average of 1.38 million barrels of oil equivalent per day in 2026, including 500,000 barrels per day of oil.KNOT Offshore Partners (KNOP) will not pursue the acquisition of the shuttle tankers Frida Knutsen and Sindre Knutsen from sponsor Knutsen NYK Offshore Tankers, the company said. Shares of KNOT Offshore Partners were up more than 1% pre-bell.APA (APA) stock was up more than 1% after the company said it has agreed to acquire Savant Alaska for about $70 million in upfront consideration, plus contingent payments related to the development of APA's eastern North Slope portfolio.
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