(VIANEWS) – The NASDAQ ended the session with Apache jumping 6.01% to $41.46 on Wednesday, following the last session’s downward trend. NASDAQ rose 0.74% to $11,719.68, following the last session’s downward trend on what was a somewhat up trend trading session today.
Why is Apache Stock Going Up?
Apache Corporation APA is an interesting stock to consider for your portfolio. It is a company that specializes in oil and gas exploration and production. From a Zacks Industry Rank perspective, it is in good company. However, before you make any decisions about the stock, you should consider its recent earnings report and its recent stock price volatility.
Apache Corporation is reducing its debt, which is a positive for its shareholders. It has about $6.3 billion of debt, and expects to call another $350 million of debt at par during the second half of 2021. This will save the company hundreds of millions of dollars every year. In addition, the company is focusing on modernizing its operations in Egypt, which will generate around $450 million of CFFO. This strategy has allowed Apache Corporation to generate double-digit shareholder returns through 2021, and the company has the cash flow to continue to grow.
A solid earnings estimate revision activity has driven APA stock higher over the last month. Analysts are increasingly bullish on the company’s prospects. Their estimates for the current quarter and full year have increased from 70 cents to 84 cents per share. This trend has helped APA to earn a Zacks Rank #1 (Strong Buy).
A healthy oil and gas price outlook is an important factor in determining Apache Corporation’s performance. The company is currently very profitable, but oil prices may fall significantly, which would significantly reduce its ability to provide shareholder rewards. In addition, the company has an attractive portfolio of assets, with a $12 billion market cap. It also pays a reasonable 1.5% dividend yield. Its recent aggressive share buyback program has helped to reduce its outstanding shares, allowing it to expand its dividend.
Through its subsidiaries, APA Corporation explores, develops and produces oil-and gas properties. The company has subsidiaries in Egypt, the United States and the United Kingdom. It also has offshore exploration operations. It also owns four Permian to Gulf Coast pipelines and operates processing, transmission, and gathering assets. APA Corporation was established in Houston, Texas in 1954.
Today’s last reported volume for Apache is 7363710, 9.03% below its average volume of 8094990.
Apache’s last close was $39.11, 24.72% under its 52-week high of $51.95.
Apache’s sales growth is 78.2% for the current quarter and 62.2% for the next. The company’s growth estimates for the present quarter and the next is 234.3% and 154.1%, respectively.
Year-on-year quarterly revenue growth grew by 40.5%, now sitting on 8.81B for the twelve trailing months.
Apache’s Stock Yearly Top and Bottom Value
Apache’s stock is valued at $41.46 at 18:14 EST, way under its 52-week high of $51.95 and way higher than its 52-week low of $18.52.
Apache’s Moving Average
Apache’s value is way above its 50-day moving average of $35.27 and way above its 200-day moving average of $36.18.
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