$APA

Research Alert: CFRA Keeps Hold Opinion On Shares Of Apa Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of $39, raised $4, reflects a 3.5x multiple of enterprise value to projected 2027 EBITDA. The applied multiple is slightly above APA's historical forward average, but we now think a premium multiple is defensible given the recent surge in crude oil prices following the onset of war between the U.S. and Iran. If the recent commodity price increase is sustained, it should do wonders for APA's cash flows and probably hasten efforts to clean up its balance sheet. On the latter point, per our DCF model, the company has little near-term demands on cash flows until 2029 (beyond dividend payments) when debt milestones appear. However, we only find them particularly onerous in 2030. We think APA is giving itself room for M&A to boost a low reserve life, if opportunities present themselves. We lift our 2026 EPS estimate by $3.41 to $6.08 and 2027's by $1.54 to $4.24.

BMO Capital Adjusts Price Target on APA to $45 From $47, Maintains Market Perform Rating

APA (APA) has an average rating of hold and mean price target of $42.56, 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://www..com/contact-us)

Capital One Adjusts Price Target on APA to $51 From $50, Maintains Overweight Rating

APA (APA) has an average rating of hold and mean price target of $42.11, 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://www..com/contact-us)

S&P 500 Posts Sixth Consecutive Weekly Gain, Hits Highs in Tech-Led Rise

The Standard & Poor's 500 index rose 2.3% this week to another round of new highs as the technology sector climbed on deals and earnings.The S&P 500 ended Friday's session at 7,398.93, marking its latest all-time closing high. The market benchmark also set a fresh intraday high on Friday at 7,401.50, its sixth consecutive week of gains. The index is up 8.1% for the year.This week's advance came as deal chatter and better-than-expected earnings drove strong gains in the technology sector. The deals included a preliminary agreement under which Intel (INTC) will make some of the chips powering Apple (AAPL) devices, according to a Wall Street Journal report citing people familiar with the matter.Also, payroll data from the Bureau of Labor Statistics showed the US economy added more jobs than projected in April. This helped allay concerns about a slowdown in the labor market. Investors also saw the data as likely allowing the Federal Reserve to stick to its current policy stance.Nonfarm payrolls for April rose by 115,000, well above the 65,000 increase expected in a Bloomberg-compiled survey. Private payrolls growth slowed to 123,000 in April from 190,000 the month prior, the BLS reported, surpassing the consensus estimate for a 75,000 gain. The unemployment rate was unchanged at 4.3% in April, in line with Wall Street's estimates.The technology sector jumped 7% on the week, followed by a 1.9% increase in communication services and a 1.8% increase in consumer discretionary. Materials, industrials and real estate also edged higher.Akamai Technologies (AKAM) and Datadog (DDOG) topped the technology sector as shares soared 42% each. Akamai's Q1 results included a slight earnings beat and Chief Executive Tom Leighton said a US-based frontier model provider has committed $1.8 billion over seven years for the company's cloud infrastructure services. A Bloomberg report citing people familiar with the matter said the partner is Amazon.com-backed (AMZN) artificial intelligence startup Anthropic.Datadog's surge came as the software maker posted higher-than-expected Q1 results and raised its full-year outlook.Walt Disney's (DIS) stock was the best performer in communication services, climbing 4.8% on the week as the media and entertainment company's fiscal second-quarter results came in ahead of market estimates amid revenue gains across all business operations. Disney also reiterated expectations for growth to accelerate in the second half.Tesla (TSLA) led the gainers in consumer discretionary. The electric vehicle maker's shares rose 9.6% amid a report that the company's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.On the downside, the energy sector fell 5.4%, followed by a 4% loss in utilities, a 1.4% slip in financials and a 1.2% decline in health care. Consumer staples were also lower.The drop in the energy sector came as crude oil futures also fell on the week. APA (APA) was hit the hardest in the sector, losing 11% despite the company's Q1 earnings coming in above analysts' mean estimate.In utilities, NRG Energy (NRG) shares had the largest percentage drop for the week, falling 10%. The company reported Q1 adjusted earnings per share below analysts' mean estimate even as revenue topped the Street view.Next week's earnings calendar features Cisco Systems (CSCO), Applied Materials (AMAT) and Constellation Energy (CEG).Economic data will include the April consumer and producer price indexes. Retail sales, existing home sales, import prices and industrial production for April will also be among the reports.

JPMorgan Adjusts Price Target on APA to $41 From $38

APA (APA) has an average rating of hold and mean price target of $41.82, 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://www..com/contact-us)Price: $35.89, Change: $-0.35, Percent Change: -0.97%

APA Lifts 2026 Crude Output Forecast Amid Strong Q1 Results

APA (APA) reported Wednesday total production of 442,000 barrels of oil equivalent per day in Q1.This figure includes volumes from Egypt's noncontrolling interests and tax barrels, when adjusted for those items, the company's net production stood at 363,000 BOE per day.The results were bolstered by significant outperformance in the US, where oil production averaged 124,000 barrels per day, surpassing the company's previous guidance.These operational successes have prompted APA to raise its full-year 2026 US oil production outlook to 122,000 barrels per day, up from prior estimates.Internationally, APA's Egypt operations remained a key contributor, though adjusted production levels were impacted by high global oil prices.Under the region's production sharing contracts, higher prices result in fewer tax barrels being allocated to the company, leading to an adjusted average of 71,000 BOE per day for the quarter.However, the company noted that underlying gross oil production remained strong.Meanwhile, gross gas production in Egypt averaged 518 million cubic feet per day. Looking forward, for the full year the producer reaffirmed its Egypt gas guidance of 540-550 MMcf per day.

Mizuho Adjusts Price Target on APA to $32 From $29

APA (APA) has an average rating of hold and mean price target of $41.82, 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://www..com/contact-us)

Research Alert: Apa: Q1 Strength In Crude Oil Pricing; Eps Beat And Robust Fcf

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:APA posted Q1 EPS of $1.38 vs. $1.06, beating consensus by $0.24, while production of 442,000 boe/d was down 6% as part of deliberate portfolio optimization. Volumes excluding NCIs fell 9% to 363,000 boe/d, though U.S. oil production remained flat at 124,000 b/d with Egypt contributing 71,000 boe/d. The company exceeded production guidance through Permian efficiency gains and improved uptime, reinforcing the strategic value of its oil-weighted profile amid weak natural gas pricing at $2.12/MMBtu. APA raised full-year U.S. oil production outlook to 122,000 b/d while maintaining Permian capex at $1.3B. Free cash flow generation of $477M represented a nearly fourfold increase, enabling $634M in debt repayments through April 2026 and reducing annual interest expense by over $60M. We believe the company's continued progress on cost reduction initiatives, targeting $450M in cumulative run-rate savings by year-end 2026, positions it well for sustained cash generation.

APA Q1 Adjusted Earnings Rise, Revenue Falls

APA (APA) reported Q1 adjusted earnings late Wednesday of $1.38 per diluted share, up from $1.06 a year earlier.Analysts polled by FactSet expected $1.11.Revenue in the quarter ended March 31 fell to $2.33 billion from $2.64 billion a year earlier.

Earnings Flash (APA) APA Posts Q1 Adjusted EPS $1.38, vs. FactSet Est of $1.11

Earnings Flash (APA) APA Posts Q1 Revenue $2.33B, vs. FactSet Est of $2.13B

Morgan Stanley Adjusts APA Price Target to $43 From $22, Maintains Underweight Rating

APA (APA) has an average rating of Hold and mean price target of $40.89, 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://www..com/contact-us)

Scotiabank Adjusts APA Price Target to $36 From $26, Maintains Sector Perform Rating

APA (APA) has an average rating of Hold and mean price target of $40.79, 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://www..com/contact-us)Price: $37.80, Change: $+0.20, Percent Change: +0.53%

Susquehanna Adjusts Price Target on APA to $47 From $37, Maintains Positive Rating

APA (APA) has an average rating of hold and mean price target of $40.11, 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://www..com/contact-us)

Goldman Sachs Adjusts Price Target on APA to $31 From $30, Maintains Sell Rating

APA (APA) has an average rating of hold and mean price target of $40.11, 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://www..com/contact-us)

APA to Deliver Solid Q1 on Permian Strength and Egypt Output, RBC Says

APA (APA) is expected to deliver solid operational execution across its Permian Basin and Egypt assets in Q1, supported by stronger gas marketing results and disciplined capital spending, RBC Capital said in a Friday quarterly preview note.According to the report, stronger liquefied natural gas pricing and Permian firm transportation agreements are expected to boost gas marketing gains, offsetting weaker regional prices, with RBC estimating about $353 million in free cash flow, broadly in line on earnings.RBC noted that APA is likely to maintain a steady capital program despite higher oil prices, focusing on operational consistency and free cash flow generation, while continuing cost optimization efforts beyond the $350 million already achieved.Shareholder returns are expected to be weighted toward buybacks later in 2026, with near-term repurchases subdued as APA prioritizes balance sheet strength, while still targeting around 60% of free cash flow returned over time.RBC maintained its sector perform rating on the stock with a $45 price target.Shares of APA were up 1.7% in Monday trading.Price: $36.32, Change: $+0.58, Percent Change: +1.62%

S&P 500 Posts Weekly Gain, Closes at Record High, as Iran Reopens Strait of Hormuz

The Standard & Poor's 500 index rose 4.5% this week to a record close as investors grew more optimistic about the situation in the Middle East after Iran said the Strait of Hormuz was open.The S&P 500 ended the week at 7,126.06, its highest closing level ever. The market benchmark also reached a fresh intraday high on Friday of 7,147.52.The weekly climb -- its third in a row -- moved the S&P 500 back into positive territory for the year to date. It is now up 4.1% for 2026 and 9.2% for April.President Donald Trump said Iran agreed to suspend its nuclear program indefinitely and won't receive any frozen funds from the US, Bloomberg reported. Trump said in a phone interview on Friday that a deal to end the war is mostly complete and talks over a lasting agreement will "probably" be held this weekend, according to the Bloomberg news report.Earlier Friday, Iran announced the reopening of the Strait of Hormuz for the remainder of the US-Iran ceasefire period.The technology sector had the largest percentage gain this week across the S&P 500's 11 sectors, jumping 8.1%, followed by a 6.6% climb in consumer discretionary and a 6.3% advance in communication services. Real estate and financials were also strong, rising more than 3% each, while industrials and health care also edged higher.Oracle (ORCL) shares led the technology sector's advance, soaring 27%. The company said it plans to expand its multi-cloud networking capabilities to provide connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services.The consumer discretionary sector was boosted by a 15% jump in Tesla (TSLA) shares. The electric vehicle maker is developing a new compact, lower-cost electric SUV as it looks to expand its lineup beyond the Tesla Model Y and Tesla Model 3, according to a Reuters report citing unnamed sources familiar with the matter. Also, Tesla is planning to launch a six-seat, long-wheelbase version of the Model Y in India as early as next week, Bloomberg reported, citing unnamed sources.Four sectors declined this week, led by a 3.5% drop in energy and a 1.7% slip in utilities. Materials and consumer staples also edged lower.The energy sector's drop came as crude oil futures fell amid Iran's announcement reopening the Strait of Hormuz. The hardest-hit stocks included shares of Coterra Energy (CTRA), Devon Energy (DVN) and APA Corp. (APA), which shed 7.5% each.Quarterly earnings are expected next week from companies including Tesla, GE Aerospace (GE), GE Vernova (GEV), UnitedHealth Group (UNH), Philip Morris International (PM), International Business Machines (IBM), AT&T (T), Boeing (BA), Intel (INTC), American Express (AXP), Union Pacific (UNP), and Procter & Gamble (PG).Economic data will include March retail sales and pending home sales as well as a final reading on April consumer sentiment.

Capital One Securities Adjusts APA Price Target to $50 From $51, Maintains Overweight Rating

APA (APA) has an average rating of Hold and mean price target of $39.86, 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://www..com/contact-us)Price: $34.01, Change: $-3.89, Percent Change: -10.26%

Citigroup Adjusts Price Target on APA to $40 From $45, Maintains Neutral Rating

APA (APA) has an average rating of hold and mean price target of $39.90, 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://www..com/contact-us)

UBS Adjusts APA Price Target to $45 From $44, Maintains Neutral Rating

APA (APA) has an average rating of Hold and mean price target of $39.90, 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://www..com/contact-us)