Piper Sandler analyst Mark Lear lowered the firm’s price target on APA Corp. to $33 from $36 and keeps a Neutral rating on the shares. The analyst updated exploration and production models following the Q4 reports. The firm says gas has been a frequent topic of discussion, and gas-weighted names have responded well to supply curtailments and lower spending and activity levels. Piper’s top picks in the group remain Diamondback Energy (FANG), Permian Resources (PR), Chord Energy (CHRD) and EQT (EQT).
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Read More on APA:
- APA Corporation Announces Timeline For Closing of Callon Petroleum Company Transaction; Issues Investor Slide Deck Highlighting Top-Tier Permian Performance
- APA Corp. reports Q4 adjusted EPS $1.15, consensus $1.35
- APA Corporation Announces Fourth-Quarter and Full-Year 2023 Financial and Operational Results
- Early notable gainers among liquid option names on February 21st
- Is APA a Buy, Before Earnings?
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