Truist analyst Neal Dingmann lowered the firm’s price target on APA Corp. to $51 from $53 but keeps a Buy rating on the shares. The company’s pre-announcement for Q1 was a "mixed bag", with overall pricing lower than expected, Egypt tax barrels in-line, and higher dry hole cost, though it also posted better G&A, hedge gains, and marketing income, the analyst tells investors in a research note. APA’s buyback activity has also slowed down, with shares outstanding down only 10M from Q4, the firm added.
Published first on TheFly
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