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https://stockjury.com/apa
Read the earnings transcript.
The CFO can’t even stay on message.
Says getting back to an investment grade rating is a priority (after first saying it didn’t matter when the rating got cut), so the focus is on paying down debt even if that means underfunding capital investment to maintain production.
Then says that the company needs to invest more in capital to avoid cannibalizing it’s assets.
In short: the company is screwed. Can’t service the debt without the assets and associated production and the assets and associated production keeps going down.
Only high commodity prices and a few Suriname miracles can save the company, which might happen, but the execs will never acknowledge their failures and will end up confusing luck with skill.
And in the short term, watch the company squeeze Altus for dividends to generate some extra cash.
APA has 115% Long Term Debt to Capital, Oxy is 65%, DVN is 44%, FANG is 40%, EOG is 19%. APA management has huge ba**s trying to pass us off as premier. When JC took the reins the company had a book value of over $25B. No reputable upstream E&P even approaches the level of debt to capital APA is carrying. $9B debt, $6.8B Market cap.
@1hev+1c9z2ZyN it could be worse, we could be Oxy
It's heading down the toilet. Apache is the most bloated, top heavy, debt-ridden POS oil company around. Fkn C-Mann, the CFO and their cronies have destroyed a once-great company. The BOD and the whole lot of the execs need to go!
Still worthless on the books, or rather I should say negative
69 lulz
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