Q3 2023 Earnings Forecast for APA Co. (NASDAQ:APA) Issued By Capital One Financial

APA Co. (NASDAQ:APA – Get Rating) – Research analysts at Capital One Financial reduced their Q3 2023 earnings per share (EPS) estimates for shares of APA in a report released on Thursday, May 18th. Capital One Financial analyst B. Velie now expects that the company will post earnings of $0.83 per share for the quarter, down from their previous estimate of $1.09. The consensus estimate for APA’s current full-year earnings is $5.21 per share. Capital One Financial also issued estimates for APA’s Q4 2023 earnings at $0.96 EPS and FY2024 earnings at $4.10 EPS.

APA (NASDAQ:APA – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.84 billion. APA had a return on equity of 158.38% and a net margin of 19.72%. APA’s quarterly revenue was down 47.0% on a year-over-year basis. During the same period last year, the business posted $1.92 EPS.

APA has been the topic of a number of other research reports. StockNews.com started coverage on APA in a report on Thursday. They set a “hold” rating on the stock. Morgan Stanley raised their price objective on APA from $36.00 to $38.00 in a report on Monday, May 15th. Citigroup raised their price objective on APA from $42.00 to $43.00 in a report on Tuesday, April 25th. Roth Capital restated a “buy” rating on shares of APA in a report on Wednesday, February 8th. Finally, The Goldman Sachs Group raised their price objective on APA from $33.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.88.

APA Price Performance

Shares of NASDAQ:APA opened at $33.41 on Monday. The business’s fifty day moving average price is $35.52 and its two-hundred day moving average price is $40.00. The stock has a market cap of $10.31 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 5.11 and a beta of 3.53. The company has a debt-to-equity ratio of 4.04, a quick ratio of 1.11 and a current ratio of 1.11. APA has a one year low of $30.15 and a one year high of $51.95.

Institutional Trading of APA

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Manitou Investment Management Ltd. bought a new stake in APA in the first quarter valued at about $160,000. Harvest Portfolios Group Inc. boosted its stake in APA by 0.9% in the first quarter. Harvest Portfolios Group Inc. now owns 39,360 shares of the company’s stock valued at $1,419,000 after acquiring an additional 365 shares during the period. Centaurus Financial Inc. boosted its stake in APA by 82.5% in the first quarter. Centaurus Financial Inc. now owns 4,015 shares of the company’s stock valued at $145,000 after acquiring an additional 1,815 shares during the period. Advisory Services Network LLC boosted its stake in APA by 15.3% in the first quarter. Advisory Services Network LLC now owns 3,272 shares of the company’s stock valued at $118,000 after acquiring an additional 433 shares during the period. Finally, Chevy Chase Trust Holdings LLC boosted its stake in APA by 0.9% in the first quarter. Chevy Chase Trust Holdings LLC now owns 186,838 shares of the company’s stock valued at $6,737,000 after acquiring an additional 1,577 shares during the period. 80.79% of the stock is owned by institutional investors.

APA Company Profile

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APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the United States, Egypt and the United Kingdom, and exploration activities offshore in Suriname. The company was founded in 1954 and is headquartered in Houston, TX.