Apache Corporation Price, Consensus and EPS Surprise | Apache Corporation Quote
Balance Sheet, Capital Spending & Lease Operating Expenses
As of Dec 31, 2017, Apache had approximately $1,668 million in cash and cash equivalents. The company had a long-term debt of $7,934 million, representing a debt-to-capitalization ratio of 51.7%.
During the oil rout, Apache– like many other oil and gas players including ConocoPhillips COP and Marathon Oil Corp. MRO – aligned its spending plans with the low-price environment.
But Apache has since then increase its capital investment after achieving cost rationalization. With returns-focused growth in mind, Apache shelled out $3,089 million in 2017, representing a 75% increase over its 2016 spend. Keeping with the company’s planned shift in strategic objective, Apache’s oil and gas capital investments are set to total $3000 million during this year.
Apache’s fourth quarter lease operating expenses totaled $334 million, down 10.9% from the year-ago quarter. Moreover, total costs and expenses fell 16.4% from the fourth quarter of 2016 to $1,308 million.
Zacks Rank & Stock Picks
Apache currently retains a Zacks Rank #3 (Hold).
A better-ranked player from the same space would be Concho Resources Inc. CXO that sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Based in Midland, TX, Concho Resources is an independent oil and gas exploration and production company with producing properties mainly in the Permian Basin of southeast New Mexico and west Texas. It has a 100% track of outperforming estimates over the last four quarters at an average rate of 48.89%.
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