|Bid||13.55 x 1800|
|Ask||13.60 x 4000|
|Day's Range||13.21 - 13.71|
|52 Week Range||3.80 - 33.77|
|Beta (5Y Monthly)||4.66|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.10 (0.77%)|
|Ex-Dividend Date||Jul. 21, 2020|
|1y Target Est||N/A|
Investors need to pay close attention to Apache (APA) stock based on the movements in the options market lately.
Oil prices started this week with a bang. WTI, the primary U.S. oil price benchmark, had rallied more than 10% by 10:30 a.m. EDT on Monday, to around $32.50 a barrel, while Brent, the global oil price benchmark, jumped more than 7% to nearly $35 a barrel. The surge in crude prices buoyed most oil stocks.
RBC Capital analyst Scott Hanold maintained a Hold rating on Apache on Wednesday, setting a price target of $12, which is approximately 13.10% above the present share price of $10.61.
Thank you for standing by, and welcome to the Apache Corporation first-quarter 2020 earnings announcement webcast. Good morning, and thank you for joining us on Apache Corporation's first-quarter financial and operational results conference call. Clay Bretches, executive vice president of operations; and Dave Pursell, executive vice president of development planning, reserves, and fundamentals, will also be available on the call to answer questions.
Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of Latin America
Benchmarks closed mixed on Wednesday as data showed that private payroll had furloughed more than 20 million workers in April, highlighting the economic impact of the pandemic.
Shares of oil companies Devon Energy (NYSE: DVN), Continental Resources (NYSE: CLR), and Apache (NYSE: APA) rose more than 80% in April, according to data provided by S&P Global Market Intelligence. Meanwhile, Continental's share price more than doubled, up 114% to close the month at $16.39/share. For investors who bought in after the oil price crash of early March, these three oil producers have delivered handsome returns.
Apache's (APA) Q1 oil and natural gas production declines 7% from the year-ago quarter due to lower contribution from the MidContinent/Gulf Coast region.
Apache (APA) delivered earnings and revenue surprises of 56.67% and -0.17%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak. In what is likely to be its largest rescue effort ever, the Fed said it would work with banks to offer 4-year loans to companies of up to 10,000 employees and directly buy bonds of states and more populous counties and cities. The financial index rose 6.09%, providing the biggest boost to the S&P 500 as banks rose sharply on the Fed's backstop.
U.S. stock index futures edged lower on Thursday as investors braced for another staggering weekly jobless claims number, while oil prices rose on hopes of sweeping production cuts. Weekly initial jobless claims, the most timely data on economic health, are expected to have surged to 15 million in the past three weeks, even with figures for the week ended April 4 likely to slip to a seasonally adjusted 5.25 million, according to a Reuters poll of economists. "The virus situation in the U.S. had been worsening day by day last week and we wouldn't be surprised if we get a new record (in jobless claims)," said Charalambos Pissouros, senior market analyst at JFD Group.
With global infections topping 1 million and more U.S. states implementing stay-at-home orders, economists have slashed their forecasts for U.S. real GDP. Morgan Stanley now expects U.S. real GDP to plunge 38% in the second quarter. At 07:04 a.m. EDT, Dow e-minis were down 203 points, or 0.95%, S&P 500 e-minis were down 21.25 points, or 0.84% and Nasdaq 100 e-minis were down 64.25 points, or 0.84%.
The conventional plays offshore Suriname are especially significant for Apache as it follows the U.S. oil and gas producer's failed bet in the Alpine High region of the Permian basin, which has suffered from diving natural gas prices. Apache's second major find was made at the Sapakara West-1 well drilled offshore Suriname on Block 58, which comprises 1.4 million acres, the companies said on Thursday, adding that the third and fourth exploration well locations in the block have been identified. The well was drilled by a water depth of about 1,000 meters and encountered 79 meters net pay of high-quality volatile oil and condensate.
Big Oil’s stocks soared on Thursday, following the surge in oil prices after U.S. President Donald Trump said that he hoped for a large output cut from Russia and Saudi Arabia
The oil price crash has seen multiple oil and gas producers have their bonds pushed into distressed territory, with the credit agencies downgrading them to junk ratings
Amid crashing oil prices, oil firms are rushing to cut budgets and exposure to the most prolific shale basin in the United States, the Permian