에 대한 최신 뉴스 APA (NASDAQ:APA) 주식

Apache

Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).

APA Corp

APPIA RARE EARTHS URANIN by APPIA RARE EARTHS & URANIUM CORP.

Appia Rare Earths & Uranium Corp

STONEBRIDGE ACQUISITION CORP UNIT 1 CL A & 1/2 WT EXP

APA GROUP STAPLED SEC by APA Group Stapled Security

APA Group

Artisan Partners Asset Management Inc. Class A Common Stock

Artisan Partners Asset Management Inc

APA ORD

Barclays analyst Betty Jiang maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Equal-Weight and lowers the price target from $35 to $30.

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Analyst Ratings

Barclays Maintains Equal-Weight on APA, Lowers Price Target to $30

TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) shares are trading higher premarket on Wednesday. The company inked a mid-term LNG supply contract with Santos to supply <a target="_blank" href="https://www.santos.com/wp-content/uploads/2024/10/Santos-signs-mid-term-LNG-supply-contract.pdf" rel="noreferrer noopener">20 LNG</a> cargoes, or up to 0.5 million tonnes annually, over three years plus one quarter.
Starting in the fourth quarter of 2025, the LNG will be sourced from Santos&#8217; global portfolio and delivered ex-ship.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said, &#8221;This oil indexed contract, along with the recently executed long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan, and the mid-term contract with Glencore, demonstrates Santos' strong LNG portfolio position and customer relationships in the region.&#8221;
&#8220;Our portfolio is nicely balanced over the short to medium term with around eighty percent of volumes indexed to oil price and around twenty percent exposed to spot pricing.&#8221;
&#8221;There continues to be extremely strong demand in Asia for high heating value LNG from projects such as Barossa and PNG LNG as countries focus on reducing their carbon emissions. Santos is committed to supporting the energy security of our valued customers across Asia, where gas will play an essential role in decarbonisation efforts across the region.&#8221;
Yesterday, TotalEnergies, along with APA Corporation and Staatsolie Maatschappij Suriname, disclosed a Final Investment Decision (FID) for the first oil development in&nbsp;<a target="_blank" href="https://benzinga.com/markets/equities/24/10/41125582/why-is-apa-corp-stock-seeing-blue-skies-on-tuesday" rel="noreferrer noopener">Block 58, located offshore Suriname</a>.
The total investment is estimated at $10.5 billion, with the first oil expected in 2028.
Investors can gain exposure to the stock via&nbsp;Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MVPA#NYSE">MVPA</a>) and&nbsp;Octane All-Cap Value Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTA#NASDAQ">OCTA</a>).
Price Action: TTE shares are up 2.60% at $67.39 premarket at the last check Wednesday.
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TotalEnergies Inks LNG Supply Contract With Santos: Details

Ratings for APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) were provided by 21 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">13</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated APA and provided 12-month price targets. The average target is $37.95, accompanied by a high estimate of $52.00 and a low estimate of $27.00. Experiencing a 8.71% decline, the current average is now lower than the previous average price target of $41.57. 
<img src="https://www.benzinga.com/files/images/story/2024/1727816444_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive APA. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$47.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Stephen Richardson</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$33.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$34.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$29.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$41.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>William Janela</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$28.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Arun Jayaram</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$27.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Stephen Richardson</td>
<td>Evercore ISI Group</td>
<td>Maintains</td>
<td>In-Line</td>
<td>$39.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$35.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$41.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$52.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$29.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$49.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$45.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$34.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Bob Brackett</td>
<td>Bernstein</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$30.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Paul Cheng</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$30.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$52.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$41.00</td>
<td>$41.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to APA. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of APA compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of APA's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into APA's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/APA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on APA analyst ratings.</a>
<h2>All You Need to Know About APA</h2>
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
<h3>Financial Insights: APA</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, APA showcased positive performance, achieving a revenue growth rate of 41.59% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 21.27%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): APA's ROE stands out, surpassing industry averages. With an impressive ROE of 13.47%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): APA's ROA stands out, surpassing industry averages. With an impressive ROA of 3.08%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: APA's debt-to-equity ratio stands notably higher than the industry average, reaching 1.26. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Peeling Back The Layers: Exploring APA Through Analyst Insights

Wells Fargo analyst Roger Read maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Overweight and lowers the price target from $49 to $47.

Wells Fargo Maintains Overweight on APA, Lowers Price Target to $47

APA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) shares are trading higher after the company announced a Final Investment Decision (FID) for the first oil development in<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41116965/apa-announces-final-investment-decision-for-first-oil-development-offshore-suriname" rel="noreferrer noopener"> Block 58, located offshore Suriname</a>.
In June 2024, APA, along with TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) and Staatsolie Maatschappij Suriname disclosed key advancements towards the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39187808/suriname-oil-boom-on-the-horizon-totalenergies-apa-near-fid-for-block-58" rel="noreferrer noopener">FID for developing offshore&nbsp;Block 58</a>.
TotalEnergies and APA operate Block 58, with each holding a 50% stake. Staatsolie, Suriname&#8217;s national oil company, has the option to join the development project with up to a 20% interest once the FID is made.
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/23/09/34579825/totalenergies-eyes-9b-oil-venture-in-block-58-offshore-suriname-production-to-begin-in-2028" rel="noreferrer noopener">TotalEnergies Eyes $9B Oil Venture In Block 58 Offshore Suriname, Production To Begin In 2028</a>
The total investment is estimated at $10.5 billion, with first oil expected in 2028.
The project, named GranMorgu, includes production from the Krabdagu and Sapakara oil discoveries and has confirmed gross estimated recoverable resources exceeding 750 million barrels of oil through appraisal drilling.
GranMorgu will utilize technology to minimize greenhouse gas emissions, featuring an all-electric FPSO configuration with zero routine flaring and complete reinjection of associated gas into reservoirs.
Alongside securing approval for the Phase-1 Central Area Field Development, the partnership has maintained the option for additional exploration in Block 58.
This will enable the companies to thoroughly investigate the substantial untapped potential of the block within the established trend, as well as explore untested areas.
Investors can gain exposure to APA via&nbsp;Texas Capital Funds Trust Texas Capital Texas Oil Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>) and Octane All-Cap Value Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTA#NASDAQ">OCTA</a>).
Price Action: APA shares are up 4.80% at $25.64 at the last check Tuesday.
Photo via Shutterstock
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Movers

Why Is APA Corp Stock Seeing Blue Skies On Tuesday?

WIIM

APA shares are trading higher after the company announced a final investment decision for the first oil development in Block 58, located offshore Suriname.

50-50 joint venture with TotalEnergies&#39; subsidiary (Block 58 operator) for 220,000 barrels of oil per day Floating Production Storage and Offloading (FPSO) unit
<ul>
<li>First oil production from the Krabdagu and Sapakara fields anticipated in 2028</li>
<li>Project to feature new technologies to minimize greenhouse gas emissions
	&nbsp;</li>
</ul>
PARAMARIBO, Suriname, Oct. 01, 2024 (GLOBE NEWSWIRE) -- APA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) announced today that its subsidiary has reached a positive final investment decision (FID) for the first oil development in Block 58, located offshore Suriname. The project has been named GranMorgu, which is derived from a local language and means both &quot;new dawn&quot; and &quot;goliath grouper.&quot;
GranMorgu will include production from the Krabdagu and Sapakara oil discoveries, where appraisal drilling confirmed gross estimated&nbsp;recoverableresources of more than&nbsp;750 million barrels of oil. Total investment is estimated at $10.5 billion, with first oil in 2028. TotalEnergies EP Suriname B.V. is the operator of Block 58, with a 50% interest, alongside APA Suriname 58 Corporation LDC (50%). Staatsolie, Suriname&#39;s national oil company, has the option to enter the development project with up to 20% interest upon FID.
At meetings held in Paramaribo, John J. Christmann IV, CEO of APA, met with His Excellency Chandrikapersad Santokhi, President of the Republic of Suriname, and Annand Jagesar, CEO of Staatsolie, to review the development plans for Block 58, as well as with Patrick Pouyann&eacute;, Chairman and CEO of TotalEnergies.

APA Announces Final Investment Decision For First Oil Development Offshore Suriname; Total Investment Is Estimated At $10.5B, With First Oil In 2028

APA's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>) short percent of float has risen 26.02% since its last report. The company recently reported that it has 16.92 million shares sold short, which is 5.23% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.06 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>APA Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727728219_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for APA has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing APA's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, APA's peer group average for short interest as a percentage of float is 6.58%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(APA) - Analyzing APA's Short Interest

Evercore ISI Group analyst Stephen Richardson maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a In-Line and lowers the price target from $39 to $33.

Evercore ISI Group Maintains In-Line on APA, Lowers Price Target to $33

Truist Securities analyst Neal Dingmann maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Buy and lowers the price target from $46 to $34.

Truist Securities Maintains Buy on APA, Lowers Price Target to $34

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Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) inked a multi-year, multi-million-dollar extension of an earlier deal with APA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>).
This deal extension builds on three years of collaboration across oil and gas company APA&#8217;s global portfolio and introduces new AI capabilities through Palantir&#8217;s <a href="https://www.benzinga.com//node/41021018" target="_blank" rel="noreferrer noopener">Artificial Intelligence Platform (AIP) software.</a>
Over the past three years, Palantir has partnered with APA to deploy its software for operational planning, supply chain, maintenance, production optimization, and contract management.
Palantir&#8217;s AIP software has helped APA seize opportunities, improve equipment reliability with real-time monitoring, optimize logistics, and detect anomalies in contracts and invoices.
Travis Osborne, APA&#8217;s Vice President, Chief Information Officer said,&#8221;Our existing partnership has enabled improved operational efficiency and business visibility across our global portfolio. We are excited to expand the use of Palantir AI capabilities to build on this foundation and accelerate performance and cost management even further.&#8221;
This month, Palantir&#8217;s new $99.8 million contract expanded Maven Smart System access to all military branches, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40957619/palantir-wins-deal-worth-multi-million-dollars-to-expand-maven-smart-system-across-us-army-air-f" rel="noreferrer noopener">enhancing interoperability and readiness</a>.
The contract allows military services to leverage existing innovations from the Office of Secretary of Defense and NGA for integration.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, PLTR stock has gained around 159%&nbsp;in the past year. Investors can gain exposure to the stock via&nbsp;REX AI Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIPI#NASDAQ">AIPI</a>) and&nbsp;Global X Funds Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>).
Price Action: PLTR shares are down 0.33% at $36.78 premarket at the last check Wednesday.
Photo by Spyro the Dragon on Shutterstock
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Palantir And APA Amp Up AI Alliance: Multi-Million Dollar Deal To Transform Oil & Gas Operations

The agreement builds on the work deployed across APA&#39;s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir&#39;s Artificial Intelligence Platform (AIP) software.
The agreement builds on the work deployed across APA&#39;s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir&#39;s Artificial Intelligence Platform (AIP) software.

Palantir, APA Ink Multi-year, Multi-million-dollar Extension To Enterprise Agreement Originally Signed In 2021

The U.S. Energy Department&#39;s latest inventory report showed a slightly larger-than-expected increase in natural gas supplies. Despite this bearish data, futures ended the week higher, driven by forecasts for strong cooling demand.
However, natural gas remains down year to date, facing persistent challenges as the market reacts sharply to unpredictable weather patterns. Investors should focus on resilient stocks like Range Resources&nbsp;and Coterra Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctra#NYSE">CTRA</a>), while it may be wise to avoid higher-risk options like Comstock Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crk#NYSE">CRK</a>) amid the prevailing market instability.
<h2>Natural Gas Build Larger Than Market Expectations</h2>
Stockpiles held in underground storage in the lower 48 states rose 58 billion cubic feet (Bcf) for the week ended Sept. 13, slightly above analysts&#39; guidance of a 57 Bcf addition. The increase compared with the five-year (2019-2023) average net injection of 80 Bcf and last year&#39;s growth of 62 Bcf for the reported week.
The weekly build put total natural gas stocks at 3,445 Bcf, which is 194 Bcf (6%) above the 2023 level and 274 Bcf (8.6%) higher than the five-year average.
The total supply of natural gas averaged 107.2 Bcf per day, down 0.6 Bcf per day on a weekly basis, due to lower shipments from Canada and falling dry production.
Meanwhile, daily consumption dropped to 95.4 Bcf from 96.6 Bcf in the previous week, mainly reflecting weakness in residential/commercial usage and a dip in deliveries to U.S. LNG export facilities.
<h2>Natural Gas Prices Still Finish Higher</h2>
Natural gas prices climbed last week, despite a slightly unfavorable inventory build. October futures closed at $2.434 on the New York Mercantile Exchange, marking a 5.4% increase, driven mainly by warmer weather forecasts. This is the fourth consecutive weekly rise, yet natural gas remains down more than 20% over the past three months. This follows a 47% surge in April and May. Prices even dipped to a four-month low of $1.88 in late August, underscoring the market&#39;s ongoing volatility.
Natural gas prices remain pressured by strong production, high stockpiles, and weak demand due to mild weather. Current inventories are significantly above last year&#39;s levels and the five-year average, signaling a bearish outlook. In response, companies like APA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apa#NASDAQ">APA</a>) and EQT Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqt#NYSE">EQT</a>) are scaling back drilling activities. APA plans to reduce natural gas output by 90 million cubic feet per day (MMcf/d) in Q3, following a 78 MMcf/d cut in Q2 due to low price realizations. Meanwhile, EQT, the largest U.S. natural gas producer, will maintain a daily production cut of 0.5 billion cubic feet through the year&#39;s second half.
Ironically, several companies had just resumed production that was deferred during the April-May price recovery, but the increased output quickly pushed prices down again, highlighting the market&#39;s fragility.
On the demand side, steady LNG feed gas deliveries continue to provide a strong boost for natural gas. U.S. LNG exports remain solid, fueled by environmental policies and Europe&#39;s push to reduce reliance on Russian gas amid the Ukraine conflict. As winter approaches, the global LNG market anticipates strong demand.
<h2>What Should Investors Do with Natural Gas Stocks?</h2>
The natural gas market continues to struggle with oversupply, still feeling the effects of a challenging 2023 when prices briefly dipped below $2 for the first time since 2020.
A short-lived rally, driven by favorable weather and reduced production, offered temporary relief. However, prices have since declined again, leading producers to cut output further.
In this volatile environment, with shifts in weather and production dynamics, investors should remain cautious. Focusing on fundamentally strong stocks like Range Resources and Coterra Energy may offer more stability amid the uncertainty.
Range Resources: The company is an U.S. independent natural gas producer with operations focused in the Appalachian Basin. Range Resources&#39; large contiguous acreage position provides more than 30 years of low-breakeven, high-return inventory. This Zacks Rank #3 (Hold) company produced an average of 2,152.9 million cubic feet equivalent daily from these assets in the second quarter of 2024 &mdash; 69% natural gas.
Range Resources beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 31.6%. Valued at around $7.4 billion, RRC has risen 8% in a year.
Coterra Energy: It is an independent upstream operator primarily engaged in the exploration, development and production of natural gas. Headquartered in Houston, TX, the firm owns some 183,000 net acres in the gas-producing Marcellus Shale of the Appalachian Basin. This #3 Ranked company churned out an average of 2,779.8 million cubic feet daily of the commodity from these assets in the June quarter.
Coterra beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters and missed in the other two, the average being 5.9%. Valued at around $17.5 billion, CTRA has risen 5.4% in a year.
On the other hand, companies like Comstock Resources appear risky in the near term. CRK is a leading independent natural gas producer with operations focused on the Haynesville Shale in North Louisiana and East Texas.
Reflecting the negative sentiment around natural gas, the Zacks Consensus Estimate for the Zacks Rank #5 (Strong Sell) company&#39;s EPS has seen downward revisions. Over the past 30 days, analysts have lowered their estimates for both the current quarter and fiscal year by 30% and 12%, respectively.
<a href="https://www.zacks.com/stock/news/2340098/2-natural-gas-stocks-worth-a-closer-look-amid-price-volatility?cid=CS-BENZ-FT-analyst_blog|industry_focus-2340098">To read this article on Zacks.com click here.</a>

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2 Natural Gas Stocks Worth a Closer Look Amid Price Volatility

UBS analyst Josh Silverstein maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Neutral and lowers the price target from $35 to $29.

UBS Maintains Neutral on APA, Lowers Price Target to $29

RBC Capital analyst Scott Hanold reiterates APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Sector Perform and maintains $41 price target.

Reiteration

RBC Capital Reiterates Sector Perform on APA, Maintains $41 Price Target

Mizuho analyst William Janela maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Underperform and lowers the price target from $35 to $28.

Mizuho Maintains Underperform on APA, Lowers Price Target to $28

JP Morgan analyst Arun Jayaram maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Neutral and lowers the price target from $36 to $27.

JP Morgan Maintains Neutral on APA, Lowers Price Target to $27

Evercore ISI Group analyst Stephen Richardson maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a In-Line and maintains $39 price target.

Evercore ISI Group Maintains In-Line on APA, Maintains $39 Price Target

Piper Sandler analyst Mark Lear maintained a Hold rating on APA (APA – Research Report) today and set a price target of $29.00. The company's share...

Piper Sandler Keeps Their Hold Rating on APA (APA)

Owing to robust global demand, continuous OPEC supply cuts, and advancing economic growth, the oil and gas market is experiencing solid growth. Hence, investing in fundamentally solid oil and gas stocks Schlumberger (SLB), Cenovus Energy (CVE), and APA (APA), which are poised for high upside, could be ideal. Read more... Global oil and gas industry prospects appears promising, with demand in developing economies across the globe and geopolitical tensions stirring prices constantly. Also, the growing population worldwide, urbanization, and expanding use of oil and gas are opening new opportunities for market growth.
Against this backdrop, it could be wise to invest in fundamentally strong oil &amp; gas stocks Schlumberger Limited (<a href="https://stocknews.com/stock/SLB/">SLB</a>), Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>), and APA Corporation (<a href="https://stocknews.com/stock/APA/">APA</a>) poised for solid upside.
Recently, the <a href="https://www.opec.org/opec_web/en/press_room/7377.htm">OPEC launched its 2024 OPEC World Oil Outlook (WOO)</a>. Under the publication, the timeframe has been extended to 2050, where energy demand is set to increase by 24%, and oil demand is expected to reach 120.1 million barrels a day by the end of the forecast period.
According to Reuters, the raised forecast for world oil demand in the medium and long term is <a href="https://www.reuters.com/business/energy/opec-rolls-out-global-oil-outlook-2050-sees-no-peak-demand-2024-09-24/">driven by developing world growth</a> led by India, Africa, and the Middle East and a slower shift to electric vehicles and cleaner fuels.
Also, in the first half of 2024, the <a href="https://www.iea.org/reports/gas-market-report-q3-2024">natural gas market</a> grew at a rate above the historical average. The demand in the market was primarily fueled by higher gas use in industry and is increasingly concentrated in Asia. With geopolitical tensions increasing price volatility, natural gas demand is forecast to grow 2.5% in 2024, driven by fast-growing Asian markets.
In the second quarter, a total of 240 deals were announced, having a disclosed value of $67 billion, representing strong <a href="https://www.kroll.com/en/insights/publications/valuation/global-oil-and-gas-m-and-a-outlook-q2-2024">global oil and gas M&amp;A activities</a>.
Besides, the <a href="https://www.eia.gov/outlooks/steo/report/global_oil.php">Brent crude oil spot price averaged $82</a> per barrel (b) during August. This marked the eighth consecutive month where the prices averaged between $80/b and $90/b. Also, the EIA further expects prices to rise and remain in a high range owing to the ongoing withdrawals from global oil inventories stemming from OPEC+ production cuts.
Considering the encouraging industry trends, let's delve into the fundamentals of solid oil &amp; gas stocks such as SLB, CVE, and APA.
Schlumberger Limited (<a href="https://stocknews.com/stock/SLB/">SLB</a>)
SLB engages in the provision of technology for the energy industry globally. The company operates through four divisions: Digital &amp; Integration, Reservoir Performance, Well Construction, and Production Systems. It offers field development and hydrocarbon production, carbon management, and integration of adjacent energy systems.
On September 19, SLB and NVIDIA collaborated to develop generative AI solutions for the energy industry. The strategic collaboration accelerates the development and deployment of industry-specific generative AI foundation models across SLB's global platforms, including its Delfi&#x2122; digital platform and Lumi&#x2122; data and AI platform, by leveraging NVIDIA NeMo&#x2122;.
On September 17, SLB launched the Lumi&#x2122; data and AI platform, which integrates advanced artificial intelligence (AI) capabilities, including generative AI with workflows across the energy value chain. The platform accelerates advanced data and AI capabilities at scale for the company's customers across the energy industry.
During the second quarter that ended June 30, 2024, SLB's revenue increased 12.8% year-over-year to $9.14 billion. The company's income before taxes grew 9.9% from the year-ago value to $1.42 billion. Net income attributable to SLB and EPS came in at $1.11 billion and $0.77, up 7.6% and 6.9% from the prior year's quarter, respectively.
Furthermore, the company's <a href="https://www.investopedia.com/terms/e/ebitda.asp">adjusted EBITDA</a> rose 16.6% year-over-year to $2.29 billion.
Analysts expect SLB's EPS for the third quarter (ending September 2024) to grow 14.7% year-over-year to $0.89, while its revenue of $9.35 billion for the same period indicates a 12.6% improvement year-over-year. Moreover, the company topped the consensus EPS estimates in all four trailing quarters.
Shares of SLB have decreased 10.5% over the past month to close the last trading session at $41.17. Wall Street analysts expect the stock to hit $65.77 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/slb/forecast">upside of 59.75%</a>.
SLB's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
SLB has a B grade for Growth. It is ranked #20 out of 49 stocks in the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry.
In addition to the POWR Ratings we've stated above, we also have SLB ratings for Quality, Value, Momentum, Sentiment, and Stability. Get all SLB ratings <a href="https://stocknews.com/stock/SLB/">here</a>.
Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>)
Headquartered in Calgary, Canada, CVE develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates in Oil Sands; Conventional; Offshore; Canadian Refining; and U.S. Refining segments.
On August 1, CVE's Board of Directors declared a quarterly base dividend of $0.18 per common share, payable on September 27, 2024, to shareholders of record as of September 13, 2024.
The Board also declared a quarterly dividend on each of the cumulative redeemable first preferred shares. The dividend is as follows: $0.16 on Series 1, $0.41 on Series 2, $0.29 on Series 3, $0.29 on Series 5, and $0.25 on Series 7, to be paid on October 1, 2024 to shareholders of record as of September 13, 2024.
CVE's annual dividend of $0.63 translates to a yield of 3.72% at the current share price. Its four-year average dividend yield is 1.45%. Further, the company's dividend payouts have increased at a CAGR of 123.5% over the past three years.
During the second quarter that ended June 30, 2024, CVE's revenues increased 21.7% year-over-year to C$14.88 billion ($11.04 billion). Its net earnings came in at C$1.00 billion ($742.26 million) and C$0.53 per share, up 15.5% and 20.4% from the prior year's quarter, respectively.
In addition, its adjusted funds flow rose 24.3% and 28.6% year-over-year to C$2.36 billion ($1.75 billion) and C$1.26 per share, respectively. The company's total assets stood at C$56 billion ($41.57 billion) as of June 30, 2024, compared to C$53.91 billion ($40.15 billion) as of December 31, 2023.
As per the company's revised 2024 corporate guidance, CVE expects total upstream production between 785,000 BOE/d and 810,000 BOE/d, up 7,500 BOE/d at the midpoint. Its total downstream throughput is expected to be 640,000 bbls/d to 670,000 bbls/d, which is up by 5,000 bbls/d at the midpoint.
Street expects CVE's revenue and EPS for the fourth quarter (ending December 2024) to increase 8% and 118.3% year-over-year to $10.53 billion and $0.60, respectively. Furthermore, the company surpassed the consensus revenue estimates in three of the trailing four quarters.
CVE's stock has declined 16.6% over the past month to close the last trading session at $16.29. Wall Street analysts expect the stock to hit $24.36 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/cve/forecast">49.54% upside</a>.
CVE's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has an A grade for Quality. CVE is ranked #13 among 81 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry.
<a href="https://stocknews.com/stock/CVE/">Click here</a> to access CVE's ratings for Value, Momentum, Growth, Stability, and Sentiment.
APA Corporation (<a href="https://stocknews.com/stock/APA/">APA</a>)
APA is an independent energy company that explores, develops, and produces natural gas, crude oil, and natural gas liquids. The company has oil and gas operations in the United States, Egypt, and the North Sea. It also has exploration and appraisal activities in Suriname, and holds interests in projects located in Uruguay and internationally.
On September 25, APA and Palantir Technologies Inc. (PLTR), a leading builder of artificial intelligence systems, expanded their partnership through a multi-year, multi-million-dollar enterprise agreement, which was initially signed in 2021.
The agreement is built on the work deployed across APA's global portfolio over the past three years, and it introduces new artificial intelligence capabilities through Palantir's Artificial Intelligence Platform (AIP) software. This collaboration will improve operational efficiency and business visibility across APA's global portfolio.
Also, on April 1, APA acquired Callon Petroleum Company (CPE). The strategic acquisition bodes well with APA's operations as Callon's assets bring scale to its Delaware position and balance its overall Permian asset base.
APA's total revenues came in at $2.54 billion during the second quarter that ended June 30, 2024, indicating a 41.6% year-over-year growth. The company's adjusted earnings were $434 million and $1.17 per share, up 64.4% and 37.6% from the prior year's quarter, respectively. Also, its adjusted EBITDAX increased 29.5% year-over-year to $1.58 billion.
As of June 30, 2024, APA's total assets stood at $20.19 billion, compared to $15.24 billion as of December 31, 2023.
Street expects APA's revenue for the first quarter (ending March 2025) to increase 19.4% year-over-year to $2.27 billion, and its EPS for the same quarter is expected to grow 27.2% year-over-year to $0.99. Also, its revenue and EPS for the fiscal year 2025 are expected to increase 0.2% and 5.2% year-over-year to $9.25 billion and $4.36, respectively.
APA's stock has plunged 20.1% over the past month to close the last trading session at $23.15. Wall Street analysts expect the stock to hit $34.89 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/apa/forecast">upside of 50.7%</a>.
APA's POWR Ratings reflect its robust outlook. The stock has a B grade for Value and Quality. Within the Energy – Oil &amp; Gas industry, APA is ranked #26 among the 81 stocks.
<a href="https://stocknews.com/stock/APA/">Click here</a> to access additional ratings of APA for Sentiment, Stability, Growth, and Momentum.
What To Do Next?
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<hr />
SLB shares were trading at $42.29 per share on Friday afternoon, up $1.12 (+2.72%). Year-to-date, SLB has declined -17.21%, versus a 21.35% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/slb-cve-apa-3-oil-gas-stocks-with-high-upside-potential/>3 Oil & Gas Stocks With High Upside Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Oil & Gas Stocks With High Upside Potential

In a report released yesterday, Roger Read from Wells Fargo maintained a Buy rating on APA (APA – Research Report), with a price target of $47.00. ...

Wells Fargo Keeps Their Buy Rating on APA (APA)

TotalEnergies, APA approve $10B Suriname offshore oil and gas project

Oil jumps after Iran missile attack on Israel; Iran oil assets could be retaliation target

Barclays analyst Betty Jiang maintained a Hold rating on APA (APA – Research Report) today and set a price target of $35.00. The company's shares c...

Barclays Sticks to Their Hold Rating for APA (APA)

S&P 500 Energy ends Q3 on negative note as crude prices fall

Crude oil jumps as Biden mentions potential Israeli retaliation on Iran oil assets

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Presentation Times and Schedule for Participating Companies Now Posted on the Conference Website for 29th Annual EnerCom Denver - The Energy Investment Conference

APA Corporation Publishes 2024 Sustainability Report

Investor One-on-One Meeting Requests Open for 29th Annual EnerCom Denver - The Energy Investment Conference, to be held August 18-21, 2024 in Denver, Colorado

APA Corporation Announces Second-Quarter 2024 Financial and Operational Results

EnerCom's 29th Annual Energy Investment Conference is Set to be Held August 18-21, 2024 in Denver, Colorado

Financing

APA Announces Agreement for $950 Million Asset Sale of Non-core Properties in the Permian Basin

Dividends

APA Corporation Declares Cash Dividend on Common Shares

APA Corporation Expands Partnership with Palantir To Leverage AI Technology Across Their Oil and Gas Operations

Thermon Appoints Jan L. Schott as Chief Financial Officer and Promotes Greg Lucas to Chief Accounting Officer

APA Announces Final Investment Decision for First Oil Development Offshore Suriname

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