Q1 2024 EPS Estimates for APA Co. Boosted by Analyst (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Analysts at Capital One Financial boosted their Q1 2024 earnings estimates for shares of APA in a report issued on Wednesday, April 10th. Capital One Financial analyst B. Velie now expects that the company will earn $0.71 per share for the quarter, up from their previous estimate of $0.25. The consensus estimate for APA’s current full-year earnings is $4.60 per share. Capital One Financial also issued estimates for APA’s FY2024 earnings at $4.50 EPS.

APA (NASDAQ:APA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley reiterated an “underweight” rating and issued a $28.00 price target on shares of APA in a report on Monday. Piper Sandler cut their price target on shares of APA from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. StockNews.com upgraded shares of APA from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Scotiabank reiterated a “sector perform” rating and issued a $37.00 price target (down previously from $43.00) on shares of APA in a report on Tuesday, January 16th. Finally, Susquehanna cut their price target on shares of APA from $53.00 to $50.00 and set a “positive” rating for the company in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.80.

APA Stock Down 2.0 %

Shares of APA stock opened at $32.50 on Monday. The company has a market cap of $9.81 billion, a P/E ratio of 3.50 and a beta of 3.27. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. APA has a one year low of $29.47 and a one year high of $46.15. The firm has a fifty day moving average of $32.25 and a two-hundred day moving average of $34.75.

Institutional Investors Weigh In On APA

Institutional investors have recently bought and sold shares of the stock. Harris Associates L P raised its position in APA by 17.8% in the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after acquiring an additional 2,367,570 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in APA by 191.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,248 shares of the company’s stock worth $129,952,000 after acquiring an additional 2,064,022 shares in the last quarter. Vanguard Group Inc. raised its position in APA by 5.0% in the third quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock worth $1,714,656,000 after acquiring an additional 2,003,862 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after acquiring an additional 1,938,335 shares in the last quarter. Finally, Barclays PLC raised its position in APA by 113.4% in the second quarter. Barclays PLC now owns 2,026,480 shares of the company’s stock worth $69,245,000 after acquiring an additional 1,076,668 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, April 19th. APA’s payout ratio is currently 10.78%.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.