APA Co. Expected to Post Q3 2024 Earnings of $1.34 Per Share (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Research analysts at Roth Capital lifted their Q3 2024 earnings per share estimates for APA in a report issued on Wednesday, May 1st. Roth Capital analyst L. Mariani now expects that the company will earn $1.34 per share for the quarter, up from their prior forecast of $1.20. The consensus estimate for APA’s current full-year earnings is $5.03 per share. Roth Capital also issued estimates for APA’s Q4 2024 earnings at $1.34 EPS, Q1 2025 earnings at $1.42 EPS, Q2 2025 earnings at $1.27 EPS, Q3 2025 earnings at $1.37 EPS, Q4 2025 earnings at $1.65 EPS and FY2025 earnings at $5.70 EPS.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on APA from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Barclays decreased their price objective on shares of APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Roth Mkm increased their target price on shares of APA from $37.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. StockNews.com lowered shares of APA from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of APA in a report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.05.

APA Stock Up 2.3 %

APA stock opened at $29.92 on Monday. APA has a twelve month low of $28.90 and a twelve month high of $46.15. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average of $32.52 and a two-hundred day moving average of $34.01. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 3.35 and a beta of 3.29.

APA (NASDAQ:APA) last announced its earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.34%. APA’s dividend payout ratio (DPR) is 11.19%.

Institutional Trading of APA

Several institutional investors have recently added to or reduced their stakes in APA. American National Bank increased its position in APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of APA during the third quarter worth about $34,000. Quent Capital LLC increased its holdings in shares of APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after acquiring an additional 375 shares during the period. Rakuten Securities Inc. bought a new stake in APA in the 4th quarter valued at about $34,000. Finally, Principal Securities Inc. bought a new position in APA in the 4th quarter worth about $39,000. Institutional investors own 83.01% of the company’s stock.

About APA

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.