Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Apache Corporation    APA

APACHE CORPORATION (APA)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Apache Corporation : Apache 2nd-Quarter Profit Tumbles 72% on Write-Down, Lower Prices

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/02/2012 | 02:56pm CEST
   By Victoria Stilwell 
 

Apache Corp.'s (APA) second-quarter profit sank 72% as revenue declined and the exploration-and-production company booked a $480 million write-down on its Canada oil and gas properties amid historically low natural gas prices.

Results missed expectations.

The company lowered its forecast for production growth, now seeing global growth of 6% to 9% from earlier expectations of 7% to 13%.

Apache has been acquisitive in recent years, adding mature fields from larger rivals. Apache has spent more than $15 billion in the past two years to acquire a series of assets in Egypt, the North Sea, West Texas and the Gulf of Mexico.

In January, Apache agreed to a $2.85 billion deal for privately held Cordillera Energy Partners III LLC, giving it 254,000 acres atop a property known as the Granite Wash, doubling its acreage in the energy field.

Apache also in June said it plans to produce more than 1 million barrels of oil equivalent a day in 2016, with U.S. oil production leading its growth. About 58% of Apache's production will be oil and similar liquids, up from 50% in 2011, the company said.

Apache reported a profit of $356 million, down from a year-earlier profit of $1.26 billion. Per-share earnings, which include the impact of stock dividends, slipped to 86 cents from $3.17.

The latest quarter included a $480 million reduction in the carrying value of its oil and gas properties in Canada stemming from lower natural gas prices. Excluding this item and others, per-share earnings were $2.07, down from $3.22.

Revenue declined 8.4% to $3.97 billion.

Analysts surveyed by Thomson Reuters recently expected per-share earnings of $2.53 on revenue on $4.26 billion.

Average prices, including hedging impacts, decreased 8.1% for oil, 32% for natural gas liquids and 23% for natural gas.

Shares fell 0.9% to $86.04 in recent premarket trade. The stock is off 28% in the past 12 months through Wednesday's close.

Write to Victoria Stilwell at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APACHE CORPORATION
06/18Zimmer Biomet and Clorox fall; Apache and JD.com climb
AQ
06/18APACHE : Opens Application for 2018-2019 Tree Grant Program
AQ
06/14Cairn buys into Seacrest-backed British North Sea oilfield
RE
06/14APACHE : Opens Application for 2018-2019 Tree Grant Program
AQ
06/13APACHE : 06/13/2018Apache Opens Application for 2018-2019 Tree Grant Program
PU
06/13APACHE : Opens Application for 2018-2019 Tree Grant Program
AQ
06/08APACHE CORPORATION : Today's Research Reports on Trending Tickers: Apache and Oa..
AC
06/07APACHE CORPORATION : Free Technical Research on Cabot Oil & Gas and Thre..
AC
06/04APACHE : Stresses Keenness on Expanding Investments in Egypt
AQ
06/03APACHE : stresses keenness on expanding investments in Egypt
AQ
More news
News from SeekingAlpha
06/18Energy stocks dominate today's S&P movers; Cimarex +5.7% 
06/15Oil prices plunge ahead of next week's OPEC meeting; energy stocks whacked 
06/13Permian Basin oil production seen doubling in five years, report says 
06/12Size of Permian footprint separates winners and losers, Argus says 
06/12Is Apache's Alpine Field All Wet? 
Financials ($)
Sales 2018 7 297 M
EBIT 2018 2 020 M
Net income 2018 726 M
Debt 2018 7 183 M
Yield 2018 2,33%
P/E ratio 2018 22,78
P/E ratio 2019 19,75
EV / Sales 2018 3,16x
EV / Sales 2019 3,06x
Capitalization 15 901 M
Chart APACHE CORPORATION
Duration : Period :
Apache Corporation Technical Analysis Chart | APA | US0374111054 | 4-Traders
Technical analysis trends APACHE CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 45,8 $
Spread / Average Target 6,9%
EPS Revisions
Managers
NameTitle
John J. Christmann President, Chief Executive Officer & Director
John E. Lowe Non-Executive Chairman
Stephen J. Riney Chief Financial Officer & Executive Vice President
Mark D. Maddox Chief Information Officer & Vice President
George D. Lawrence Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
APACHE CORPORATION-1.44%15 901
CONOCOPHILLIPS19.07%76 476
CNOOC LTD14.44%73 154
EOG RESOURCES5.81%66 094
OCCIDENTAL PETROLEUM CORPORATION13.13%63 812
WILLIAMS PARTNERS LP3.07%38 997