The Real Story Behind Apache Corporation's Disappointing Q2 2017 Earnings
It's never fun when you do what you say you're going to do and get criticized anyway. That's probably how John Christmann III, CEO of oil and gas industry player Apache Corporation (NYSE: APA), feels after the stock market beat down Apache's shares more than 8% on Thursday, after the company reported an adjusted second-quarter loss of $0.21 per share and lowered its production guidance for this year and next.
But despite how bad it may seem, there were some bright spots in Apache's report, and with the stock now trading near its 10-year lows, a strong case can be made for buying in at these prices.
Oil driller Apache has been making infrastructure improvements at its Alpine High field and in the North Sea, in the hopes of outperforming in future quarters. Image source: Getty Images.
Source: Fool.com
APA Corporation Stock
Currently there is a rather positive sentiment for APA Corporation with 22 Buy predictions and 6 Sell predictions.
As a result the target price of 46 € shows a very positive potential of 63.88% compared to the current price of 28.07 € for APA Corporation.
