Core Viewpoint - APA Corporation is expected to report fourth-quarter 2024 results on February 26, with a consensus estimate of $0.97 earnings per share and $2.3 billion in revenues, indicating a year-over-year earnings decline of 15.7% but a revenue increase of 20.2% [1][4]. Group 1: Previous Performance - In the last reported quarter, APA missed the consensus earnings estimate of $1.03, reporting adjusted earnings of $1, while revenues of $2.5 billion exceeded expectations by nearly 12% due to contributions from the Callon Petroleum acquisition and higher production levels [3]. - APA has beaten the Zacks Consensus Estimate in one of the last four quarters and missed in the others, with the current consensus estimate for the upcoming quarter remaining unchanged over the past week [4]. Group 2: Production and Strategic Moves - APA is anticipated to benefit from increased domestic production, with an expected average fourth-quarter volume of 311,984 barrels of oil equivalent per day (BOE/d), reflecting a 36.4% increase from the previous year's level of 228,671 BOE/d [5]. - Since 2020, APA's strategic acquisitions have added over $5 billion in assets and divested $2.5 billion in non-core properties, effectively doubling its unconventional production in the Permian Basin, enhancing operational efficiency and reducing per-unit lease operating expenses [6]. Group 3: Earnings Prediction - A positive earnings surprise is likely for APA, supported by a positive Earnings ESP and a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold), which increases the likelihood of an earnings beat [7].

Company Performance - APA closed at $23.31, marking a +1.39% move from the prior day, outperforming the S&P 500 which gained 0.03% [1] - Over the previous month, APA shares experienced a loss of 5.7%, underperforming the Oils-Energy sector's gain of 0.76% and the S&P 500's gain of 4.19% [1] Upcoming Earnings - APA's earnings report is scheduled for February 26, 2025, with projected earnings of $0.97 per share, indicating a year-over-year decline of 15.65% [2] - The consensus estimate for quarterly revenue is $2.27 billion, reflecting a 20.24% increase from the previous year [2] Analyst Estimates - Recent adjustments to analyst estimates for APA are important as they reflect near-term business trends, with positive revisions indicating a favorable outlook on the company's health and profitability [3] - The Zacks Rank system, which incorporates these estimate changes, provides actionable ratings for investors [4] Zacks Rank and Valuation - APA currently holds a Zacks Rank of 3 (Hold), with a 6.43% rise in the Zacks Consensus EPS estimate over the past month [5] - The company is trading at a Forward P/E ratio of 6.34, which is a discount compared to the industry's average Forward P/E of 9.37 [6] Industry Context - The Oil and Gas - Exploration and Production - United States industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 52, placing it in the top 21% of over 250 industries [6] - The strength of individual industry groups is measured by the Zacks Industry Rank, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Company Performance - APA's stock closed at $22.19, down 0.89% from the previous trading session, underperforming the S&P 500's gain of 0.39% [1] - The stock has decreased by 5.37% over the past month, contrasting with the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 1.7% [1] Earnings Forecast - APA is expected to report earnings on February 26, 2025, with a forecasted EPS of $0.97, reflecting a 15.65% decline from the same quarter last year [2] - The Zacks Consensus Estimate projects net sales of $2.27 billion, which is a 20.24% increase compared to the year-ago period [2] Analyst Estimates - Recent changes to analyst estimates for APA indicate a shifting business landscape, with positive revisions suggesting optimism about the company's profitability [3] - The Zacks Rank system, which evaluates these estimate changes, has a history of correlating with stock price performance [4] Zacks Rank and Valuation - APA currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate having increased by 10.31% over the past month [5] - The company is trading at a Forward P/E ratio of 6.17, which is lower than the industry average Forward P/E of 9.08 [6] Industry Context - The Oil and Gas - Exploration and Production - United States industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 45, placing it in the top 18% of over 250 industries [6][7]

Core Points - Cerro Grande Mining Corporation (CEG) has formally terminated the Asset Purchase and Contracts Assignment Agreement (APA) with Minera Tamidak Limitada due to the inability to make the final cash payment required by Tamidak [1][3] - The total purchase price under the APA was 3,900,000,000 Chilean Pesos (approximately CDN$6.08 million), of which CEG had already paid 2,600,000,000 Chilean Pesos through the issuance of common shares [2] - The final installment of 1,300,000,000 Chilean Pesos was due by June 1, 2024, and Tamidak opted for cash payment, which CEG could not fulfill [3] - As a result of the termination, CEG has returned all acquired assets, including mining concessions related to the Pimentón Copper Gold Mining Project, and the Lease Agreement for Mining Exploitation Concessions has also been terminated [4] - The Board of Directors is currently reviewing options and will provide updates as necessary [5]

Core Insights - APA Corporation provided supplemental information regarding its fourth-quarter 2024 financial and operational results, indicating that actual results may vary based on factors not identified in the release [1] Financial Performance - Estimated average realized prices for fourth-quarter 2024 are as follows: - Oil in the United States: $70.25 per barrel - NGL in the United States: $24.50 per barrel - Natural Gas in the United States: $1.00 per Mcf - Oil internationally: $74.75 per barrel - NGL internationally: $50.50 per barrel - Natural Gas internationally: $4.00 per Mcf [2] - The company reported a realized gain on commodity derivatives (before tax) of $1 million, dry hole costs (before tax) of $30 million, and a net gain on oil and gas purchases and sales (before tax) of $140 million [2] - General and administrative expenses for the quarter were estimated at $100 million [2] Production Update - APA curtailed approximately 23.5 MBoe/d in the fourth quarter due to weak or negative Waha hub prices, exceeding the previously issued guidance of 22 MBoe/d [3] Asset Sale Update - In September, APA announced the divestiture of non-core assets in the Permian Basin, which closed on December 31, 2024. The net proceeds from this sale were approximately $774 million after a deposit of $95 million and a purchase price adjustment [4] Shareholder Information - The estimated weighted-average basic common shares for the fourth quarter were 369 million, a slight decrease from 370 million in the third quarter of 2024. The company repurchased 4.6 million shares at an average price of $21.90 per share during the fourth quarter [5] Upcoming Events - APA will host a conference call to discuss its fourth-quarter 2024 results on February 27, 2025, at 10 a.m. Central time, which will be available for replay on the company's website [6]

APA (APA) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.The upward trend in estimate revisions for this oil and natural gas producer reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends i ...

Shares of APA (APA) have gained 8.4% over the past four weeks to close the last trading session at $23.70, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $30.08 indicates a potential upside of 26.9%.The mean estimate comprises 25 short-term price targets with a standard deviation of $7.16. While the lowest estimate of $22 indicates a 7.2% decline from the current price level, t ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potenti ...

The most recent trading session ended with APA (APA) standing at $24.85, reflecting a +1.93% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.12% gain on the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, lost 0.23%.The the stock of oil and natural gas producer has risen by 11.12% in the past month, leading the Oils-Energy sector's loss of 8.42% and the S&P 500's loss of 3.45%.Investors will be eagerly watching for the performance of APA in its ...