APA Stock Summary and Trading Ideas (Apa | NASDAQ:APA)

Based in Houston, APA is an independent exploration and production company. It operates primarily in the U.S., Egypt, the North Sea, and Suriname. At year-end 2022, proved reserves totaled 890 million barrels of oil equivalent, with net reported production of 400 thousand boe/d that year (64% of which was oil and natural gas liquids, with the remainder natural gas).

Apa trades on the NASDAQ stock market under the symbol APA.

As of October 3, 2023, APA stock price declined to $39.38 with 1,341,569 million shares trading.

APA has a beta of 1.16, meaning it tends to be more sensitive to market movements. APA has a correlation of 0.14 to the broad based SPY ETF.

APA has a market cap of $12.10 billion. This is considered a Large Cap stock.

Last quarter Apa reported $2 billion in Revenue and $.85 earnings per share. This beat revenue expectation by $141 million and exceeded earnings estimates by $.19.

In the last 3 years, APA stock traded as high as $51.95 and as low as $7.45.

The top ETF exchange traded funds that APA belongs to (by Net Assets): VTI, VB, XLE, VOO, VBR.

APA has underperformed the market in the last year with a price return of +18.1% while the SPY ETF gained +20.0%. However, in the short term, APA had mixed performance relative to the market. It has outperformed in the last 3 months, returning +16.0% vs -4.4% return in SPY. But in the last 2 weeks, APA shares have been beat by the market, returning -7.8% compared to an SPY return of -4.8%.

APA support price is $38.60 and resistance is $40.46 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that APA stock will trade within this expected range on the day.