Apache Corp Stock Research

Market Summary

USD36.06+0.68

Delayed

1.92%

APA Stock Price

APA RSI Chart

APA Valuation

Market Cap

14.4B

Price/Earnings (Trailing)

4.67

Price/Sales (Trailing)

1.31

EV/EBITDA

3.03

Price/Free Cashflow

3.36

APA Price/Sales (Trailing)

APA Profitability

EBT Margin

49.20%

Return on Equity

156.6%

Return on Assets

24.81%

Free Cashflow Yield

29.73%

APA Fundamentals

APA Revenue

Revenue (TTM)

11.9B

Revenue Y/Y

-4.79%

Revenue Q/Q

-17.4%

APA Earnings

Earnings (TTM)

3.5B

Earnings Y/Y

4.89%

Earnings Q/Q

20.17%

Price Action

52 Week Range

29.9751.46

(Low)(High)

Last 7 days

4.5%

Last 30 days

-9.0%

Last 90 days

-22.7%

Trailing 12 Months

-11.7%

APA Financial Health

Current Ratio

0.96

Debt/Equity

2.16

Debt/Cashflow

0.99

APA Investor Care

Dividend Yield

0.81%

Dividend/Share (TTM)

0.34

Peers (Alternatives to Apache)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
EOG	66.8B	25.7B	-2.86%	0.61%	8.61	2.6	37.87%	66.36%
OXY	60.4B	37.1B	4.86%	11.01%	4.68	1.64	40.97%	472.95%
DVN	49.8B	19.8B	-5.87%	-7.42%	9.45	2.71	44.20%	113.83%
PXD	48.8B	24.4B	2.14%	-16.10%	6.22	2	36.45%	270.40%
FANG	24.3B	9.6B	-4.60%	4.74%	5.54	2.52	41.87%	101.01%
APA	14.4B	11.9B	-9.01%	-11.66%	4.67	1.31	50.58%	232.96%
MID-CAP
OVV	8.9B	14.3B	-20.19%	-32.98%	2.44	0.62	36.25%	156.85%
RRC	6.3B	5.3B	-1.67%	-12.87%	5.36	1.19	49.01%	187.38%
MTDR	5.7B	3.2B	-13.91%	-9.69%	4.67	1.77	71.67%	107.57%
OAS	4.4B	3.6B	-33.88%	7.97%	4.99	1.94	130.82%	480.77%
KOS	3.4B	2.2B	-3.63%	3.48%	14.97	1.51	68.57%	391.06%
CRK	3.0B	3.6B	-13.40%	-17.32%	2.62	0.83	96.03%	571.98%
CPE	2.1B	3.2B	-15.94%	-43.40%	1.7	0.64	60.18%	231.32%
SMALL-CAP
PARR	1.7B	7.3B	-0.68%	124.27%	4.77	0.24	55.45%	547.97%
LPI	805.4M	1.9B	-8.19%	-35.44%	1.28	0.42	37.78%	335.50%

Financials for Apache

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-1.0%	11,938	12,053	10,934	9,664	7,928
S&GA Expenses	7.7%	462	429	429	425	357
Costs and Expenses	-4.4%	6,064	6,340	6,247	5,978	5,948
EBITDA	1.6%	7,373	7,256	6,308	5,392	-
EBITDA Margin	2.6%	0.62*	0.60*	0.58*	0.56*	-
Earnings Before Taxes	2.8%	5,874	5,713	4,687	3,686	1,980
EBT Margin	3.8%	0.49*	0.47*	0.43*	0.38*	-
Interest Expenses	-9.0%	322	354	385	457	442
Net Income	0.6%	3,536	3,516	3,076	2,512	1,062
Net Income Margin	1.5%	0.30*	0.29*	0.28*	0.26*	-
Free Cahsflow	13.7%	4,852	4,266	4,270	3,690	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.4%	14,255	14,192	13,839	13,494	14,393
Current Assets	-22.5%	2,602	3,357	3,062	2,560	2,395
Cash Equivalents	1.1%	185	183	228	144	279
Current Liabilities	-2.1%	2,697	2,754	3,022	2,154	2,231
Long Term Debt	0.0%	4,885	4,884	4,885	5,764	7,295
LT Debt, Current	-	215	-	-	-	-
LT Debt, Non Current	-33.0%	4,885	7,295	-	-	-
Shareholder's Equity	23.3%	2,258	1,831	2,490	1,832	-
Retained Earnings	6.9%	-5,781	-6,210	-6,567	-7,470	-9,317
Additional Paid-In Capital	0.1%	8,025	8,020	8,054	8,381	8,677

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	13.7%	4,852	4,266	4,270	3,670	3,505
Share Based Compensation	-	170	-	-	-	-
Cashflow From Investing	-291.8%	-1,485	-379	-170	75.00	-666
Cashflow From Financing	14.6%	-3,461	-4,052	-4,894	-3,882	-2,822
Dividend Payments	NaN%	0.00	0.00	0.00	0.00	9.00

Risks for APA

What is the probability of a big loss on APA?

100%

Probability that Apache stock will be more than 20% underwater in next one year

86.5%

Probability that Apache stock will be more than 30% underwater in next one year.

55%

Probability that Apache stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does APA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Apache was unfortunately bought at previous high price.

Drawdowns

Returns for APA

Cumulative Returns on APA

-5.6%

10-Year Cumulative Returns

-2.1%

7-Year Cumulative Returns

0.5%

5-Year Cumulative Returns

107.2%

3-Year Cumulative Returns

What are the long-term rolling returns for APA?

FIve years rolling returns for Apache.

Annualized Returns

Which funds bought or sold APA recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-27	Neo Ivy Capital Management	new	-	9,000	9,000	0.01%
2023-03-24	Freemont Management S.A.	sold off	-100	-121,000	-	-%
2023-03-23	ETF MANAGERS GROUP, LLC	sold off	-100	-212,000	-	-%
2023-03-23	MetLife Investment Management, LLC	reduced	-3.12	955,855	3,918,180	0.03%
2023-03-17	American Portfolios Advisors	reduced	-19.02	-18,051	69,252	-%
2023-03-15	B. Riley Wealth Advisors, Inc.	added	14.63	316,053	876,053	0.03%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-21.00	1,788,300	24,546,300	0.03%
2023-03-06	Rockefeller Capital Management L.P.	added	3.69	2,112,000	7,191,000	0.04%
2023-03-06	OLD MISSION CAPITAL LLC	new	-	869,321	869,321	0.03%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	2,469	7,469	-%

Latest Funds Activity

Are funds buying APA calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own APA

No. of Funds

Apache News

Schedule 13G FIlings of Apache

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2022	dodge & cox	0.2%	610,326	SC 13G/A
Feb 11, 2022	hotchkis & wiley capital management llc	5.13%	18,630,099	SC 13G
Feb 11, 2022	harris associates l p	5.3%	19,148,135	SC 13G
Feb 09, 2022	vanguard group inc	12.45%	45,212,514	SC 13G/A
Feb 09, 2022	state street corp	6.37%	23,122,695	SC 13G
Feb 03, 2022	blackrock inc.	6.3%	22,869,044	SC 13G
Feb 16, 2021	harris associates l p	3.9%	14,770,495	SC 13G/A
Feb 12, 2021	davis selected advisers	0.0%	0	SC 13G/A
Feb 11, 2021	dodge & cox	13.8%	52,194,876	SC 13G/A
Feb 10, 2021	vanguard group inc	11.34%	42,802,398	SC 13G/A

APA Fair Value

Recent SEC filings of Apache

View All Filings

Date Filed	Form Type	Document
Feb 23, 2023	10-K	Annual Report

Latest Insider Trading transactions for APA

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2021-02-02	Pursell David A	back to issuer	-84,747	15.12	-5,605	executive vice president
2021-02-01	CHRISTMANN JOHN J	acquired	-	-	48,241	ceo and president
2021-02-01	LANNIE P ANTHONY	acquired	-	-	12,985	exec. vice pres & gen counsel
2021-02-01	Pursell David A	sold (taxes)	-50,032	15.12	-3,309	executive vice president
2021-02-01	Pursell David A	acquired	-	-	14,013	executive vice president
2021-02-01	LANNIE P ANTHONY	sold (taxes)	-46,357	15.12	-3,066	exec. vice pres & gen counsel
2021-02-01	LANNIE P ANTHONY	back to issuer	-78,533	15.12	-5,194	exec. vice pres & gen counsel
2021-02-01	Riney Stephen J	back to issuer	-124,770	15.12	-8,252	executive vice pres & cfo
2021-02-01	Bretches D. Clay	back to issuer	-52,965	15.12	-3,503	exec vp - operations
2021-02-01	Riney Stephen J	acquired	-	-	20,630	executive vice pres & cfo

About Apache

John J. Christmann

apacorp.com

2250

APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines. APA Corporation was founded in 1954 and is based in Houston, Texas.

APA Income Statement

2022-12-31

STATEMENT OF CONSOLIDATED OPERATIONS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

REVENUES AND OTHER:

Derivative instrument gains (losses), net

$ (107)

$ 94

$ (223)

Gain on divestitures, net

1,180

Losses on previously sold Gulf of Mexico properties

(157)

(446)

Other, net

139

228

Total revenues and other

11,938

7,928

4,308

OPERATING EXPENSES:

Lease operating expenses

1,435

1,241

1,127

Taxes other than income

256

204

123

Exploration

146

127

274

General and administrative

462

357

290

Transaction, reorganization, and separation

Depreciation, depletion, and amortization

1,177

1,360

1,772

Asset retirement obligation accretion

117

113

109

Impairments

208

4,501

Financing costs, net

313

472

267

Total operating expenses

6,064

5,948

9,148

NET INCOME (LOSS) BEFORE INCOME TAXES

5,874

1,980

(4,840)

Current income tax provision

1,507

652

176

Deferred income tax provision (benefit)

145

(74)

(112)

NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS

4,222

1,402

(4,904)

Net income (loss) attributable to Altus Preferred Unit limited partners

(70)

162

NET INCOME (LOSS) ATTRIBUTABLE TO APA CORPORATION

3,536

1,062

(4,860)

Noncontrolling Interest, Sinopec

OPERATING EXPENSES:

Net income (loss) attributable to noncontrolling interest

464

174

(121)

Noncontrolling Interest, Altus

OPERATING EXPENSES:

Net income (loss) attributable to noncontrolling interest

Noncontrolling Interest, APA Corporation

OPERATING EXPENSES:

Net income (loss) attributable to noncontrolling interest

278

Oil and gas, excluding purchased

REVENUES AND OTHER:

Oil, natural gas, and natural gas liquids production revenues

^[1]

9,028

6,498

4,037

OPERATING EXPENSES:

Cost of oil and gas purchased

^[1]

356

264

274

Oil and gas, purchased

REVENUES AND OTHER:

Purchased oil and gas sales

1,855

1,487

398

OPERATING EXPENSES:

Cost of oil and gas purchased

1,776

1,580

357

Oil and gas

REVENUES AND OTHER:

Total revenues

$ 10,883

$ 7,985

$ 4,435

[1]	(1) For revenues and gathering, processing, and transmission costs associated with Kinetik, refer to Note 7—Equity Method Interest for further detail.

APA Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

CURRENT ASSETS:

Cash and cash equivalents ($132 related to Altus VIE)

^[1]

$ 185

$ 279

Receivables, net of allowance of $117 and $109

^[1]

1,424

1,390

Other current assets (Note 6) ($9 related to Altus VIE)

^[1]

993

649

Accounts receivable from APA Corporation

^[1]

Total current assets

^[1]

2,602

2,395

PROPERTY AND EQUIPMENT:

Oil and gas, on the basis of successful efforts accounting:

^[1]

41,245

40,474

Gathering, processing, and transmission facilities ($209 related to Altus VIE)

^[1]

449

673

Other ($3 related to Altus VIE)

^[1]

613

1,126

Less: Accumulated depreciation, depletion, and amortization ($25 related to Altus VIE)

^[1]

(34,350)

(34,213)

Property and equipment, net

^[1]

7,957

8,060

OTHER ASSETS:

Equity method interests (Note 7) ($1,365 related to Altus VIE)

^[1]

624

1,365

Decommissioning security for sold Gulf of Mexico properties (Note 12)

^[1]

217

640

Deferred charges and other ($6 related to Altus VIE)

^[1]

571

581

Noncurrent receivable from APA Corporation

869

^[1]

Note receivable from APA Corporation (Note 2)

^[1]

1,415

1,352

Assets

^[1]

14,255

14,393

CURRENT LIABILITIES:

Accounts payable ($12 related to Altus VIE)

^[1]

646

651

Note payable to APA Corporation (Note 2)

^[1]

195

Current debt

^[1]

215

Other current liabilities (Note 8) ($15 related to Altus VIE)

^[1]

2,049

1,170

Total current liabilities

^[1]

2,697

2,231

LONG-TERM DEBT (Note 10) ($657 related to Altus VIE)

^[1]

4,885

7,295

DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:

Income taxes

^[1]

314

148

Asset retirement obligation ($68 related to Altus VIE)

^[1]

1,936

2,089

Decommissioning contingency for sold Gulf of Mexico properties (Note 12)

^[1]

738

1,086

Other ($67 related to Altus VIE)

^[1]

443

572

Total deferred credits and other noncurrent liabilities

^[1]

3,431

3,895

REDEEMABLE NONCONTROLLING INTEREST - ALTUS PREFERRED UNIT LIMITED PARTNERS (Note 14)

^[1]

712

EQUITY (DEFICIT):

Common stock, $0.625 par, 1,000 and 1,000 shares authorized, respectively, 1,000 and 1,000 shares issued, respectively

^[1]

Paid-in capital

^[1]

8,025

8,677

Accumulated deficit

^[1]

(5,781)

(9,317)

Accumulated other comprehensive income

^[1]

EQUITY (DEFICIT) ATTRIBUTABLE TO APA CORPORATION

^[1]

2,258

(618)

TOTAL EQUITY

^[1]

3,242

260

Liabilities and Equity, Total

^[1]

14,255

14,393

Noncontrolling Interest, Sinopec

EQUITY (DEFICIT):

Noncontrolling interest

^[1]

922

820

Noncontrolling Interest, APA Corporation

EQUITY (DEFICIT):

Noncontrolling interest

^[1]

Noncontrolling Interest, Altus

EQUITY (DEFICIT):

Noncontrolling interest

^[1]

$ 0

$ 58

[1]	(1) The Altus VIE amounts are disclosed as of December 31, 2021. All Altus balances were deconsolidated as of February 22, 2022. Refer to Note 1—Summary of Significant Accounting Policies and Note 3—Acquisitions and Divestitures for further detail.