Research Analysts Offer Predictions for APA Co.’s Q2 2022 Earnings (NASDAQ:APA)

APA Co. (NASDAQ:APAGet Rating) – Capital One Financial cut their Q2 2022 earnings per share (EPS) estimates for APA in a report issued on Wednesday, June 1st. Capital One Financial analyst B. Velie now expects that the company will post earnings per share of $2.80 for the quarter, down from their prior estimate of $3.22. Capital One Financial also issued estimates for APA’s Q3 2022 earnings at $3.49 EPS, Q4 2022 earnings at $4.03 EPS, FY2022 earnings at $12.25 EPS and FY2023 earnings at $11.67 EPS.

Other equities analysts have also recently issued research reports about the stock. Raymond James raised their price objective on shares of APA from $59.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, April 25th. Barclays reduced their price target on shares of APA from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. The Goldman Sachs Group increased their price objective on APA from $46.50 to $52.50 and gave the company a “neutral” rating in a research report on Tuesday, April 26th. Piper Sandler decreased their price target on APA to $54.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Finally, Mizuho boosted their price objective on APA from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, APA currently has a consensus rating of “Buy” and a consensus price target of $46.97.

Shares of APA opened at $48.30 on Monday. APA has a 12-month low of $15.55 and a 12-month high of $50.46. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.77. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 0.18 and a beta of 4.12. The stock’s 50-day moving average price is $42.49 and its 200 day moving average price is $35.53.

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

Several large investors have recently modified their holdings of APA. Verition Fund Management LLC acquired a new position in APA in the 1st quarter valued at $961,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of APA by 34.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,812 shares of the company’s stock valued at $1,191,000 after acquiring an additional 7,332 shares in the last quarter. EJF Capital LLC bought a new position in APA during the first quarter worth about $413,000. Kestra Private Wealth Services LLC acquired a new stake in APA in the 1st quarter worth about $204,000. Finally, Midwest Wealth Management Inc. bought a new stake in APA in the 1st quarter valued at about $2,801,000. Institutional investors own 84.08% of the company’s stock.

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

The company 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. The ex-dividend date is Thursday, July 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.04%. APA’s payout ratio is 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.

See Also

Earnings History and Estimates for APA (NASDAQ:APA)

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