Should You Punt On This OIl & Gas Mid Cap Stock-APA

Acrobull UK Advisory Services Ltd.

November 22

2024

Name	Ticker	Sector/Industry	Market Cap	Risk Factor
APA Corporation	APA-NASDAQ	Oil & Gas	$8.302 Billion	Medium

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea.

Recent Highlights

Strong Points- Reported production of 467,000 barrels of oil equivalent (BOE) per day; adjusted production, excluding Egypt no controlling interest and tax barrels, was 395,000 BOE per day.

Signed agreement that raises the contractual price for natural gas production in Egypt and incentivizes increased gas exploration and development activity; and returned $406 million of free cash flow to shareholders year-to-date through dividends and share buybacks.

Third Quarter 2024 Financial Highlights

APA Corp (NASDAQ:APA) reported solid third-quarter results, exceeding output estimates while keeping capital and costs below expectations.

The business announced the sale of non-core Permian properties for $950 million, which is scheduled to conclude in December and would help with debt reduction.

Standard & Poor's upgraded APA Corp (NASDAQ:APA)'s credit rating, bringing it to investment-grade status with all three main rating agencies.

The company successfully integrated Callon and secured corresponding cost efficiencies, which improved cash flow resiliency.

Stock Observation- The company has reported good earnings in the third quarter of 2024 and reported stable results. The RSI level for the stock is at 43 which shows close to oversold conditions. The customers looking for an oversold oil and gas stock may choose to invest in it.

Risk Involved- Financial performance of the company may have an impact on the company stock performance.

Considering all the factors and financials of the company Acrobull UK maintains Buy Rating for the stock.

Disclaimer- Though our research is fundamentally and technically based on Acrobull UK only provides general advice on the stocks and it is imperative for the investors to do the risk assessment for themselves before investing as Acrobull UK would not be liable for any loss or profit arising out through the investment made by the investors on our recommendations.

It is also advisable for the investors to consult with Financial Advisor, Broker or to seek any legal assistance as the research conducted by Acrobull UK is factually based and recommendations are given in accordance with that, but it is imperative to understand that Acrobull UK does not guarantee returns.

Acrobull UK Recommendation Based on Evaluation

Current Market Price	$22.44 USD
Acrobull Recommendation	Buy
Target Price	Target 1 $25.25 USD, Limit Sell Target 2 $28.25 USD
RSI Level	14 Day RSI 43
Total Shares Outstanding	369.95 Million
Shares held by Insiders Risk Factor Stop Loss	0.41% Medium 5%