APA: Surprisingly Soft Performance (Rating Downgrade)

imaginima At the start of the year, APA Corporation (NASDAQ:APA) was joining the energy consolidation wave as it announced the purchase of Callon Petroleum in a $4.5 billion all-stock deal. The transaction added scale and balance in the Permian Basin, while growing production by some 100,000 barrels of oil-equivalent per day. Following the deal having closed, APA announced some substantial non-core asset divestment here, at prices which look pretty reasonable. Nonetheless, shares kept moving lower amids ...