Benchmark Reiterates Buy Rating on APA Corp. (APA), Q4 Estimates Lowered

Benchmark analyst Subash Chandra reiterated a Buy rating and $33.00 price target on APA Corp. (NASDAQ: APA).

The analyst commented, "Reducing 4Q EBITDA estimate to $1.168B from $1.328B on m-t-m commodities. APA pre-reported the strongest gas marketing gains of the year as Waha struggled to breakeven. APA curtailed nearly 23,000 boepd in the US, or 8% of 3Q domestic volumes. Egyptian volumes should also tick down sequentially on a brief pipeline outage but should not have a material effect on cash flows."

For an analyst ratings summary and ratings history on APA Corp. click here. For more ratings news on APA Corp. click here.

Shares of APA Corp. closed at $26.41 yesterday.

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