Analysts Offer Predictions for APA Co.’s Q4 2022 Earnings (NASDAQ:APA)

APA Co. (NASDAQ:APAGet Rating) – Equities researchers at Capital One Financial reduced their Q4 2022 earnings estimates for APA in a research report issued on Monday, November 21st. Capital One Financial analyst B. Velie now expects that the company will post earnings per share of $1.71 for the quarter, down from their prior estimate of $1.74. The consensus estimate for APA’s current full-year earnings is $8.20 per share. Capital One Financial also issued estimates for APA’s Q1 2023 earnings at $1.31 EPS, Q2 2023 earnings at $1.40 EPS, Q3 2023 earnings at $1.52 EPS, Q4 2023 earnings at $1.59 EPS and FY2023 earnings at $5.82 EPS.

APA (NASDAQ:APAGet Rating) last announced its earnings results on Wednesday, November 2nd. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.05. APA had a net margin of 33.83% and a return on equity of 325.67%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The business’s revenue for the quarter was up 40.2% on a year-over-year basis.

Several other equities research analysts also recently weighed in on APA. StockNews.com downgraded shares of APA from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 5th. Barclays dropped their target price on shares of APA from $53.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th. MKM Partners raised their target price on shares of APA from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Susquehanna dropped their price target on shares of APA from $52.00 to $49.00 and set a “positive” rating on the stock in a research note on Friday, August 5th. Finally, Mizuho dropped their price target on shares of APA from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, APA has an average rating of “Moderate Buy” and a consensus price target of $52.39.

APA Price Performance

Shares of APA opened at $47.78 on Tuesday. The company has a market capitalization of $15.36 billion, a P/E ratio of 4.56, a price-to-earnings-growth ratio of 0.25 and a beta of 3.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.48. The firm has a 50 day moving average of $44.12 and a 200 day moving average of $39.37. APA has a twelve month low of $22.94 and a twelve month high of $51.95.

APA announced that its Board of Directors has initiated a share buyback program on Wednesday, September 14th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

APA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.09%. This is an increase from APA’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, October 20th. APA’s dividend payout ratio is presently 9.55%.

Hedge Funds Weigh In On APA

Several hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of APA in the 3rd quarter worth approximately $273,000. Clear Street Markets LLC increased its stake in APA by 375.2% during the 2nd quarter. Clear Street Markets LLC now owns 708 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of APA in the second quarter worth $26,000. James Investment Research Inc. boosted its holdings in APA by 205.7% during the second quarter. James Investment Research Inc. now owns 755 shares of the company’s stock worth $26,000 after buying an additional 508 shares in the last quarter. Finally, Core Alternative Capital boosted its holdings in APA by 657.1% during the third quarter. Core Alternative Capital now owns 795 shares of the company’s stock worth $27,000 after buying an additional 690 shares in the last quarter. 83.36% of the stock is currently owned by institutional investors.

APA Company Profile

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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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