HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported fourth-quarter net income of $279 million.
On a per-share basis, the Houston-based company said it had profit of 79 cents. Earnings, adjusted for non-recurring costs, came to 91 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The oil and natural gas producer posted revenue of $1.98 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.92 billion.
For the year, the company reported profit of $1.43 billion, or $3.99 per share. Revenue was reported as $9.22 billion.
APA shares have risen 14% since the beginning of the year, while the S&P’s 500 index has risen 1.5%. In the final minutes of trading on Wednesday, shares hit $27.84, a climb of 24% 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