Apache Corporation (APA) Moves Higher on Volume Spike for February 22

Apache Corporation (APA) Moves Higher on Volume Spike for February 22

Apache Corporation (APA) traded on unusually high volume on Feb. 22, as the stock gained 0.3% to close at $33.47. On the day, Apache Corporation saw 7.53 million shares trade hands on 26,116 trades. Considering that the stock averages only a daily volume of 4.64 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $50.03 and $24.56 over the last 52-weeks, its 50-day SMA is now $30.61, and its 200-day SMA $39.13. Apache Corporation has a P/B ratio of 1.67. It also has a P/E ratio of 14.1.

Apache Corp is a US-based independent energy company. It is engaged in the exploration activities for the development and production of natural gas, crude oil, and natural gas liquids. The company has exploration and production operations in the geographic areas of Egypt, the US, and offshore the U.K. in the North Sea. In addition, it also has exploration interests in Suriname. The company derives the majority of the revenue from oil and gas production activities in the US and Egypt.

Headquartered in Houston, TX, Apache Corporation has 3,356 employees and is currently under the leadership of CEO John J. Christmann.

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