APA

APA Corporation plans to maintain operations at the Forties Charlie platform in the U.K. North Sea despite a threatened 24-hour strike by over 160 offshore workers represented by the Unite union over pay disputes. The company will retain experienced personnel to support pipeline flows and third-party oil production even if its own output is temporarily suspended. Another strike is scheduled for November 4 if the compensation dispute remains unresolved.

With crude oil prices climbing amid geopolitical tensions, three major energy companies—Chevron, Diamondback Energy, and APA Corporation—are positioned to benefit from higher oil prices. Chevron reported 20% production growth and record refinery throughput, Diamondback generated $2.3 billion in free cash flow with raised 2026 guidance, and APA exceeded oil production guidance with $738 million in free cash flow. However, benefits depend on production volumes, operating costs, and hedging strategies.

Apache Corporation (APA) closed at $49.76, up 1.24%, outperforming the S&P 500. The oil and gas producer has gained 9.54% over the past month.

With a Zacks Rank #1 (Strong Buy) rating, analysts expect Q3 2026 earnings of $1.27 per share (up 36.56% YoY) and full-year earnings of $6 per share (up 59.15% YoY). The stock trades at a Forward P/E of 8.2, below its industry average of 9.4, and has a PEG ratio of 0.82.