With a market cap of around $6 billion, APA Corporation (APA) is a leading independent energy company, with a global footprint spanning the United States, Egypt, the North Sea, and South America. APA also holds significant exploration assets offshore Suriname and interests in Uruguay and other international locations, along with a minority stake in Permian-focused Altus Midstream Company.
Shares of the Houston, Texas-based company have significantly underperformed the broader market over the past 52 weeks. APA stock has decreased 43.6% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 12.3%. Moreover, shares of APA are down 28.7% on a YTD basis, lagging behind SPX's 3.3% decline.
