APA Corp (US)

APA · NASDAQ

$49.90+$0.135 (+0.27%)TodayMarket closed · Oct 20, 7:53 PM ET

Prev close $49.76

APA analyst rating

HoldConsensus of 24 analysts over the last 12 months. 29% rate it a buy.

Strong buy0
Buy7
Hold13
Underperform3
Sell1

12-month price target · 27 analysts

Average $46.57 (−6.7% downside)

Low: $36.36
Now: $49.90
High: $65.10

Upgrades and downgrades

The latest rating actions, newest first

APA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Susquehanna	Oct 20, 2026	Maintains	Positive	$47.00 → $58.00	49%
Scotiabank	Oct 15, 2026	Initiates	Sector Perform	$44.00	59%
Mizuho	Oct 15, 2026	Maintains	Underperform	$36.00 → $44.00	51%
Morgan Stanley	Oct 15, 2026	Maintains	Underweight	$41.00 → $43.00	66%
RBC Capital	Oct 15, 2026	Maintains	Sector Perform	$47.00 → $49.00	53%
Wells Fargo	Oct 14, 2026	Maintains	Equal-Weight	$50.00 → $51.00	40%
UBS	Oct 12, 2026	Maintains	Neutral	$47.00 → $52.00	55%
Truist Securities	Oct 12, 2026	Maintains	Hold	$44.00 → $45.00	63%
Stephens & Co.	Oct 9, 2026	Maintains	Equal-Weight	$49.00	49%
Truist Securities	Sep 21, 2026	Maintains	Hold	$39.00 → $44.00	63%

The case for and against

Updated Apr 2, 2026

Bull case

APA Corp is witnessing a continuous increase in average footage drilled per day, with a notable 14.1% year-over-year growth projected for 2026, indicating operational efficiency and productivity in exploration. The company has successfully expanded its footprint in Egypt by securing a presidential approval for a 2 million-acre direct award, enhancing its capacity to generate revenue, particularly in the lucrative natural gas segment, which is expected to contribute significantly to gross production growth. Furthermore, the implementation of a cost reduction initiative is poised to enhance future free cash flow growth, underlining a strong outlook for financial performance.

Bear case

The negative outlook on APA Corp's stock is driven by several fundamental concerns, including a decrease in capital expenditures to $2.5 billion year-over-year and significant reliance on successful well performance in key regions like Suriname, Permian, and UK North Sea, which, if lacking, could lead to underperformance compared to peers. Additionally, geopolitical risks associated with the company's international operations and the potential for weaker-than-expected commodity prices further complicate the outlook, making it challenging for APA to generate consistent free cash flow and meet growth expectations. Lastly, the absence of exploration activities in Alaska and a delayed drilling schedule until 2027 raise further doubts about the company's long-term exploration effectiveness and financial returns.

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