Truist Securities analyst Gabe Daoud has maintained a Hold rating on APA (NASDAQ:APA) and lowered the price target to $38 from $39. The revision adjusts the valuation expectation for the stock following a review of its current market position.

Analyst Rating and Price Target

The decision to keep the Hold rating indicates that the stock is expected to perform in line with the broader market. The reduction in the price target suggests a slightly more conservative outlook on the near-term potential for APA shares.

The price target cut reflects an updated assessment by the analyst, considering recent developments and market conditions affecting the company.

APA Corporation today provided supplemental information regarding its second-quarter 2026 financial and operational results, offering investors insight into current estimates before the finalization of the reporting process. The company disclosed estimated average realized prices across its U.S. and international operations, alongside details on production curtailments and share repurchases. This information is intended to assist analysts and investors in formulating their own estimates, though actual results may vary.

Estimated Average Realized Prices

APA reported estimated average realized prices for the second quarter, with significant variances between regions and commodities. In the United States, oil prices averaged $93.20 per barrel, while international oil prices reached $99.90 per barrel. Natural gas prices in the U.S. were negative at ($2.20) per Mcf, contrasting with international prices of $4.80 per Mcf.

Operational and Financial Updates

The company reported Egypt tax barrels of 36 MBoe/d and incurred dry hole costs of $41 million before tax. APA recorded a net gain on oil and gas purchases and sales of $345 million before tax, which includes a $109 million realized loss from commodity derivatives.

Production Curtailments

In response to weak or negative Waha hub prices, APA curtailed approximately 137 MMcf/d of U.S. natural gas production and 12,300 barrels per day of U.S. natural gas liquids production during the second quarter.

Share Repurchases and Expenses

The estimated weighted-average basic common shares for the second quarter are 353 million. APA repurchased 2.8 million shares at an average price of $35.25 per share during the period. General and administrative expenses totaled $65 million, including approximately $10 million in stock-based compensation driven by mark-to-market impacts.

Conference Call Details

APA will host a conference call to discuss its second-quarter 2026 results at 10 a.m. Central time on Thursday, Aug. 6. The call will be webcast on the company’s website, with a replay available for one year following the event.