Zacks: Brokerages Expect APA Co. (NASDAQ:APA) Will Post Earnings of $2.79 Per Share

Equities analysts predict that APA Co. (NASDAQ:APAGet Rating) will post earnings of $2.79 per share for the current quarter, according to Zacks. Four analysts have made estimates for APA’s earnings. The highest EPS estimate is $3.38 and the lowest is $2.43. APA reported earnings of $0.70 per share in the same quarter last year, which indicates a positive year over year growth rate of 298.6%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that APA will report full year earnings of $10.80 per share for the current financial year, with EPS estimates ranging from $8.99 to $13.36. For the next fiscal year, analysts anticipate that the business will post earnings of $11.33 per share, with EPS estimates ranging from $8.59 to $17.17. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow APA.

APA (NASDAQ:APAGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. APA had a net margin of 30.21% and a return on equity of 11,632.79%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up 42.7% on a year-over-year basis.

A number of analysts have recently commented on the stock. KeyCorp lifted their price target on shares of APA from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, April 4th. Barclays cut their target price on shares of APA from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Stifel Nicolaus boosted their target price on shares of APA from $51.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, May 6th. Morgan Stanley boosted their target price on shares of APA from $41.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of APA from $46.50 to $52.50 and gave the company a “neutral” rating in a research report on Tuesday, April 26th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, APA has an average rating of “Buy” and an average price target of $46.97.

In other news, insider P Anthony Lannie sold 86,750 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $41.26, for a total value of $3,579,305.00. Following the transaction, the insider now owns 58,844 shares of the company’s stock, valued at $2,427,903.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in APA. BlackRock Inc. raised its stake in APA by 3.6% during the first quarter. BlackRock Inc. now owns 23,689,667 shares of the company’s stock valued at $979,094,000 after purchasing an additional 820,623 shares in the last quarter. Harris Associates L P raised its stake in APA by 1.9% during the first quarter. Harris Associates L P now owns 19,504,569 shares of the company’s stock valued at $806,123,000 after purchasing an additional 356,434 shares in the last quarter. Invesco Ltd. raised its stake in APA by 17.0% during the fourth quarter. Invesco Ltd. now owns 17,493,238 shares of the company’s stock valued at $470,392,000 after purchasing an additional 2,547,210 shares in the last quarter. UBS Group AG raised its stake in APA by 1,385.5% during the third quarter. UBS Group AG now owns 11,324,861 shares of the company’s stock valued at $242,692,000 after purchasing an additional 10,562,493 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in APA by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 7,358,464 shares of the company’s stock valued at $197,596,000 after acquiring an additional 80,497 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of APA stock traded down $0.15 during trading hours on Thursday, reaching $47.47. The company had a trading volume of 6,665,867 shares, compared to its average volume of 9,879,666. The business has a fifty day moving average price of $42.22 and a 200-day moving average price of $35.16. APA has a one year low of $15.55 and a one year high of $50.46. The firm has a market cap of $16.06 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.17 and a beta of 4.12. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.23 and a current ratio of 1.23.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, July 22nd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, July 21st. APA’s dividend payout ratio (DPR) is presently 7.14%.

About APA (Get Rating)

APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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Earnings History and Estimates for APA (NASDAQ:APA)

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