Valued at a market cap of $9.3 billion, APA Corporation (APA) is an independent energy company, primarily engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. With operations in the U.S., Egypt, and the North Sea, the company is a significant player in the Permian Basin and is expanding its international footprint. The Houston, Texas-based company is set to release its fiscal Q3 earnings results after the market closes on Wednesday, Nov. 6.
Ahead of this event, analysts expect the oil and natural gas producer to report a profit of $1.06 per share, a decline of 20.3% from $1.33 in the same quarter last year. The company has surpassed Wall Street’s EPS estimates in two of the past four quarters while missing on two other occasions. In the most recent quarter, APA surpassed the consensus EPS estimate by a margin of 23.2%.
