U.S. Natural Gas Prices Surge 24%, EQT Stock Rises 6.5%
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Natural Gas Price Surge: U.S. natural gas futures at Henry Hub skyrocketed nearly 24% to $4.77 per MMBtu due to forecasts of an Arctic blast, marking the largest two-day and weekly gains since trading began in 1990, indicating heightened supply-demand tensions.
- EQT Stock Rally: EQT Corp's shares rose approximately 6.5%, reflecting market concerns over natural gas production and supply disruption risks, while also indicating investor optimism regarding the company's profitability amid extreme weather conditions.
- Historic Storage Withdrawal Expected: Celsius Energy anticipates that the U.S. Energy Information Administration's storage report will show a gargantuan withdrawal of 370 billion cubic feet, potentially setting a new record and surpassing the previous high of 359 Bcf from January 5, 2018, intensifying supply concerns in the market.
- Impact of Arctic Weather: An Arctic air mass is expected to blanket the Midwest and Northeast, with temperatures plunging to near 80-year lows, which could choke natural gas production and disrupt pipeline flows and LNG exports, increasing market uncertainty and volatility.
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Analyst Views on APA
Wall Street analysts forecast APA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for APA is 25.00 USD with a low forecast of 16.00 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
4 Buy
12 Hold
4 Sell
Hold
Current: 26.010
Low
16.00
Averages
25.00
High
40.00
Current: 26.010
Low
16.00
Averages
25.00
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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