Roth Capital Maintains Neutral Rating on APA Corp with Price Target of $23
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy APA?
Roth Capital notes that Bloomberg is reporting that Guyana is preparing a second pipeline that will bring natural gas from its deepwater oil fields to the shore where it will be used for power and other industrial development, according to Guyanese President Irfaan Ali. He also said that he wants to partner with neighboring Suriname for the second gas project as it would allow it to "move from a medium-sized project to a larger-scale project." APA Corp. owns around a 40% interest in the Gran Morgu development offshore Suriname and would serve to benefit from this gas project, the firm adds. Roth has a Neutral rating on the shares with a price target of $23.
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Analyst Views on APA
Wall Street analysts forecast APA stock price to fall
19 Analyst Rating
4 Buy
10 Hold
5 Sell
Hold
Current: 28.610
Low
21.00
Averages
26.17
High
40.00
Current: 28.610
Low
21.00
Averages
26.17
High
40.00
About APA
APA Corporation is an independent energy company. The Company owns subsidiaries that explore for and produce oil and natural gas in the United States, Egypt, and the United Kingdom, and that explore for oil and natural gas offshore Suriname. The Company’s upstream business has oil and gas operations in three geographic areas: the United States, Egypt and offshore the United Kingdom in the North Sea (North Sea). It also has active exploration and appraisal operations ongoing in Suriname, as well as interests in Uruguay and other international locations. It maintains a diversified asset portfolio, including conventional and unconventional, onshore and offshore, oil and natural gas exploration and production interests. In the United States, operations are primarily focused on the Permian Basin of West Texas. The Company has conventional onshore assets in Egypt’s Western Desert, and offshore assets on the United Kingdom’s Continental Shelf.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Year-to-Date Gains: APA Corp has risen 18.73% year-to-date, while Exxon Mobil Corp has increased by 25.94%, suggesting both companies are performing exceptionally well in the current market environment, which may enhance their appeal among investors.
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See More
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