Energy company Apache Corp. is going ahead with a 50-50 joint venture with France’s Total S.A, for an offshore drilling project in Suriname, a northeastern South American.
The joint venture will explore Block 58, which has around 1.4 million acres in water depths ranging from less than 100 meters to more than 2,100 meters. Apache’s CEO and President John J. Christmann indicated that Total’s offshore operational experience and global presence make it an ideal partner for the project.
Along with the 50% working interest, Apache will also receive $5 billion of cash carry on the company’s first $7.5 billion of appraisal and development capital and a 25% cash carry on all Apache appraisals that exceed the $7.5 billion mark.
The 10-day RSI Indicator for APA moved out of overbought territory on April 08, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 35 instances where the indicator moved out of the overbought zone. In of the 35 cases the stock moved lower in the days that followed. This puts the odds of a move down at .
The Momentum Indicator moved below the 0 level on April 12, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on APA as a result. In of 83 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for APA turned negative on April 11, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 44 similar instances when the indicator turned negative. In of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where APA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 8 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
APA moved above its 50-day moving average on April 25, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where APA advanced for three days, in of 322 cases, the price rose further within the following month. The odds of a continued upward trend are .
APA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 207 cases where APA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.024) is normal, around the industry mean (5.854). P/E Ratio (3.830) is within average values for comparable stocks, (18.621). Projected Growth (PEG Ratio) (0.184) is also within normal values, averaging (5.068). Dividend Yield (0.028) settles around the average of (0.083) among similar stocks. P/S Ratio (1.322) is also within normal values, averaging (148.486).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. APA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. APA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a producer of natural gas, crude oil and natural gas
Industry OilGasProduction