The company is one of the largest US E&P companies with 2.3 BBOE of proven reserves (63% liquids). It is an acquirer/exploiter/explorer, a fiscally conservative company that has grown its reserves and production consistently via acquisitions and organic projects.
APA reported third-quarter net income of $422 million, after reporting a loss in the same period a year earlier. The company said it had profit of $1.28 per share. Earnings, adjusted for non-recurring costs, were $1.97 per share. The results topped Wall Street expectations for $1.92 per share.
Shareholders are paid a 2.21% dividend. The Citigroup team has a Buy rating and its price target for the company is set at $62. The Wall Street consensus is posted much lower at $54.92. The last trade for Tuesday came in at $47.78, up close to 6% as energy rallied.
This company is one of the premier European integrated oil giants and the Goldman Sachs analysts are very positive on the shares. BP Plc (NYSE: BP) engages in the energy business worldwide. It operates through gas and low carbon energy, oil production and operations, customers and products, and Rosneft segments.
BP produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen, and carbon capture, usage, and storage.
The company also is involved in the convenience and mobility business, which manages the sale of fuels to wholesale and retail customers; convenience products; aviation fuels; and Castrol lubricants; and refining, supply, and trading of oil products, as well as operation of electric vehicle charging facilities. In addition, it produces and refines oil and gas; and invests in upstream, downstream, and alternative energy companies, as well as in advanced mobility, bio and low carbon products, carbon management, digital transformation, and power and storage areas.
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