Apache Corporation (NYSE:APA) is reporting third quarter financial results on Wednesday 4th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, APA is expected to report 3Q20 loss of $ 0.35 per share from revenue of $ 992.30 million.
For the full year, analysts anticipate top line of $ 3971.80 million, while looking forward to loss of $ 1.44 per share bottom line.
Previous Quarter Performance
Apache Corporation communicated loss for the second quarter of $ 0.74 per share, from the revenue of $ 596.00 million. The quarterly revenues dropped 62.82 percent compared with the same quarter last year. Street analysts expected Apache Corporation to report loss of $ 1.01 per share on revenue of $ 706.25 million for the second quarter. The bottom line results beat street analysts by $ 0.27 or 26.73 percent, at the same time, top line results fell short of analysts by $ 110.25 million or 15.61 percent.
Stock Performance
Shares of Apache Corporation traded low $ -0.16 or -1.74 percent on Tuesday, reaching $ 8.73 with volume of 10.43 million shares. Apache Corporation has traded high as $ 9.21 and has cracked $ 8.63 on the downward trend
According to the previous trading day, closing price of $ 8.73, representing a 133.95 % increase from the 52 week low of $ 3.80 and a 73.67 % decrease over the 52 week high of $ 33.77.
The company has a market capital of $ 3.30 billion and is part of the Energy sector and Oil & Gas E&P industry.
Recent Analyst recommendations
- On 28th September 2020, maintained by Bank of America at Buy rating, with $ 23.00 target price.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region. It also holds onshore assets in Egypts Western desert; and offshore assets in the North Sea region, including the United Kingdom.
