U.S. energy firm Apache Corporation (APA - Free Report) reported third-quarter 2019 loss per share – excluding one-time items – of 29 cents, wider than the Zacks Consensus Estimate of 27 cents. In the year-ago period, the company reported adjusted profit of 63 cents. The underperformance stems from lower oil price realizations.
Revenues of $1.5 billion were 25.5% lower than the third-quarter 2018 sales of $2 billion but beat the Zacks Consensus Estimate of $1.4 billion due to higher-than-expected production. Precisely, the Houston, TX-based upstream explorer’s output of 450,644 oil-equivalent barrels per day (BOE/d) surpassed the Zacks Consensus Estimate of 441,000 BOE/d.
During the earnings release, the company further informed that it has started a strategic operational reorganization that is expected to result in savings of at least $150 million. The initiative is to be completed by Mar 31, 2020.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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U.S. energy firm Apache Corporation (APA - Free Report) reported third-quarter 2019 loss per share – excluding one-time items – of 29 cents, wider than the Zacks Consensus Estimate of 27 cents. In the year-ago period, the company reported adjusted profit of 63 cents. The underperformance stems from lower oil price realizations.
Revenues of $1.5 billion were 25.5% lower than the third-quarter 2018 sales of $2 billion but beat the Zacks Consensus Estimate of $1.4 billion due to higher-than-expected production. Precisely, the Houston, TX-based upstream explorer’s output of 450,644 oil-equivalent barrels per day (BOE/d) surpassed the Zacks Consensus Estimate of 441,000 BOE/d.
During the earnings release, the company further informed that it has started a strategic operational reorganization that is expected to result in savings of at least $150 million. The initiative is to be completed by Mar 31, 2020.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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