APA Corporation has added a second listing on the newly launched Nasdaq Texas exchange, using the same “APA” ticker symbol that it already trades on the Nasdaq Stock Market. The move coincides with the inaugural launch of Nasdaq Texas on March 5 2026, which is designed to serve companies with strong ties to the state of Texas.
The dual listing is a strategic effort to deepen APA’s connection with Texas investors and reinforce its position as a leading Permian‑basin operator. By listing on a Texas‑focused exchange, APA signals its commitment to the region’s energy community and provides local investors with a more convenient trading venue.
In its most recent earnings release, APA reported Q4 2025 adjusted earnings of $0.91 per share, beating the consensus estimate of $0.62 by $0.29. Revenue of $2.0 billion also surpassed the $1.89 billion estimate, driven by higher production volumes and disciplined cost management that offset a decline in commodity realizations. The company generated $1.0 billion in free cash flow for the full year, a result of aggressive cost‑cutting initiatives and efficient capital deployment.
Management guided for Q1 2026 production of 440,000 barrels of oil equivalent per day and a full‑year 2026 production of 436,000 BOE/d, a decline of more than 6% year‑over‑year. Capital expenditures for 2026 are projected at approximately $2.1 billion, a 10% reduction from 2025, reflecting a cautious outlook amid commodity price volatility and a focus on maintaining margin stability.
Financially, APA’s debt‑to‑capitalization ratio stands at 41.3%, and its Altman Z‑Score is 1.62, indicating potential distress despite strong operating (30.57%) and EBITDA (57.08%) margins. The company also boasts an inventory of Permian drilling opportunities that could sustain production for roughly ten years at current cost levels, underscoring its long‑term operational resilience.
The market has responded positively to the dual listing announcement, the earnings beat, and the company’s operational strength. Investors view the move as a sign of APA’s confidence in its execution capabilities and its commitment to the Texas energy sector.
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