APA Corp (Apache) stock surged 5.01% during intraday trading on Thursday, marking a significant upward move for the energy producer.

The sharp rise follows the company's reported fourth-quarter adjusted profit of 91 cents per share, which handily beat the analyst estimate of 64 cents per share. The earnings beat was attributed to lower operating costs that helped offset the impact of weaker commodity prices and a drop in production. Additionally, the company outlined a disciplined capital plan for the current year, expecting to invest $2.1 billion in upstream projects.

Positive analyst sentiment further bolstered the stock. Evercore ISI Group raised its price target on APA to $25 from $21, while maintaining an In-Line rating. Furthermore, William Blair maintained a Buy rating on the stock, citing the strong quarterly beat and the company's long-duration inventory in the Permian basin as key supportive factors.