APA Corp. (APA) Sheds 7.9% as Oil Prices Stabilize

APA Corporation (NASDAQ:APA) is one of the These 10 Stocks Took A Shocking Fall.

APA Corporation fell for a third day on Monday, shedding 7.91 percent to finish at $18.39 apiece following the drop in oil prices, thanks to the ceasefire between Israel and Iran.

APA Corporation (NASDAQ:APA), an energy exploration and production company, dropped alongside its counterparts after President Donald Trump announced that the two Middle Eastern countries had officially agreed on a ceasefire, and that he hoped it would become permanent.

The WTI crude oil dropped by 3.31 percent to $66.24/bbl while Brent crude  was down by 3.19 percent at $69.20/bbl.

APA Corp. (APA) Sheds 7.9% as Oil Prices Stabilize

Workers in hard hats and safety gear processing oil and gas in a US refinery.

The oil and gas exploration and production sector alone declined by 3.29 percent.

APA Corporation (NASDAQ:APA) saw its net income in the first quarter of the year jump by 163 percent to $347 million from $132 million in the same period last year. Revenues increased by 35 percent to $2.636 billion from $1.95 billion year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.