Q3 2024 Earnings Estimate for APA Co. (NASDAQ:APA) Issued By Capital One Financial

APA Co. (NASDAQ:APA) – Stock analysts at Capital One Financial decreased their Q3 2024 earnings per share estimates for shares of APA in a note issued to investors on Wednesday, May 22nd. Capital One Financial analyst B. Velie now expects that the company will post earnings per share of $1.05 for the quarter, down from their prior estimate of $1.09. The consensus estimate for APA’s current full-year earnings is $4.63 per share. Capital One Financial also issued estimates for APA’s Q4 2024 earnings at $1.20 EPS, FY2024 earnings at $4.11 EPS and FY2025 earnings at $4.66 EPS.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share 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 the consensus estimate of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share.

Several other equities research analysts have also recently weighed in on the company. Mizuho increased their target price on APA from $34.00 to $35.00 and gave the company an “underperform” rating in a report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of APA in a report on Monday, April 8th. The Goldman Sachs Group decreased their target price on shares of APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. Barclays dropped their price target on shares of APA from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of APA from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus target price of $41.90.

APA Stock Performance

APA stock opened at $29.36 on Thursday. The firm has a fifty day simple moving average of $32.38 and a two-hundred day simple moving average of $33.03. APA has a twelve month low of $28.90 and a twelve month high of $46.15. The company has a market capitalization of $10.90 billion, a PE ratio of 3.28 and a beta of 3.29. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

Institutional Investors Weigh In On APA

Institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. raised its holdings in APA by 28.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock worth $1,193,000 after acquiring an additional 7,461 shares during the last quarter. Summa Corp. bought a new position in shares of APA during the fourth quarter valued at $7,571,000. Ferguson Wellman Capital Management Inc. boosted its position in shares of APA by 3.2% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock valued at $44,412,000 after buying an additional 38,505 shares during the last quarter. GAMMA Investing LLC bought a new stake in APA in the 4th quarter worth about $95,000. Finally, AustralianSuper Pty Ltd raised its position in APA by 14.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock worth $26,053,000 after buying an additional 90,610 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.41%. APA’s dividend payout ratio is currently 11.19%.

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.