APA Corporation (NASDAQ: APA) has reported earnings for its first fiscal quarter (ending March 31) of $0.44 versus $0.78 for the same period a year ago — a decline of -44%. This result fell short of the consensus estimate of $1.31 by $-0.87. For the latest four quarters through March 31, E.P.S. were $8.96 versus $6.16 for the same period a year ago — an increase of 45%.
Recent Price Action
APA Corporation (NASDAQ: APA) stock closed at $30.50 on 5/1/24 after a decline of -3.0%. Trading volume in this decline was normal. The stock has declined -4.9% during the last week and has been extremely weak relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, APA is expected to continue to be a major Value Builder.
APA has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. APA has a very high Appreciation Score of 95 but a poor Power Rating of 18, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this discouraging new earnings information and negative market action we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
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