Long Position on APA @ $29.00 on 1/24/2022 (Fundamentals)

APA Corporation (APA), through its subsidiaries, explores for and produces oil and gas properties.

It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. It also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

The company was founded in 1954 and is based in Houston, Texas.

APA reported 3rd Quarter September 2021 earnings of $0.98 per share on revenue of $1.7 billion. The consensus earnings estimate was $0.89 per share on revenue of $1.6 billion. Revenue grew 47.4% on a year-over-year basis.

This stock should increase following the news that it wasNewsweek's 2022 Most Responsible Companies and ranked third among upstream energy competitors. With oil approaching a prospective buy point, this stock should be a good in for investors looking to diversify in the energy sector.

Entry Point: $29.00

Stop Loss: $27.75

Trading Range: $14.03 - $34.40

Target Pirce: $32.00

Position closed on 1/25/2022 at price of $33.10 with a 14.14% gain in 1 days.

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