HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported fourth-quarter profit of $354 million.
On a per-share basis, the Houston-based company said it had profit of 96 cents. Earnings, adjusted for non-recurring gains, were 79 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The oil and natural gas producer posted revenue of $2.5 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $2.27 billion.
For the year, the company reported profit of $804 million, or $2.27 per share. Revenue was reported as $9.74 billion.
APA shares have decreased roughly 5% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 1%. In the final minutes of trading on Wednesday, shares hit $22.01, a decrease of 26% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APA at https://www.zacks.com/ap/APA
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