Capital One Financial Equities Analysts Increase Earnings Estimates for APA Co. (NASDAQ:APA)


APA Co. (NASDAQ:APAFree Report) – Stock analysts at Capital One Financial upped their Q1 2024 earnings estimates for APA in a research report issued on Wednesday, April 3rd. Capital One Financial analyst B. Velie now forecasts that the company will post earnings of $0.25 per share for the quarter, up from their prior forecast of $0.02. The consensus estimate for APA’s current full-year earnings is $4.46 per share. Capital One Financial also issued estimates for APA’s Q2 2024 earnings at $1.13 EPS, Q3 2024 earnings at $1.25 EPS, Q4 2024 earnings at $1.35 EPS, FY2024 earnings at $3.98 EPS and FY2025 earnings at $5.58 EPS.

APA (NASDAQ:APAGet Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) 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 net margin of 34.95% and a return on equity of 62.64%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share.

Other research analysts also recently issued research reports about the stock. Truist Financial decreased their price objective on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a research report on Friday. UBS Group decreased their price objective on shares of APA from $48.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Piper Sandler decreased their price objective on shares of APA from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Johnson Rice downgraded shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Friday, January 5th. Finally, Raymond James decreased their price objective on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.83.

Read Our Latest Analysis on APA

APA Trading Up 0.9 %

Shares of APA stock opened at $35.74 on Monday. The firm has a 50-day simple moving average of $31.81 and a two-hundred day simple moving average of $35.10. The company has a market cap of $10.79 billion, a P/E ratio of 3.85 and a beta of 3.27. APA has a fifty-two week low of $29.47 and a fifty-two week high of $46.15. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02.

Institutional Trading of APA

Several large investors have recently bought and sold shares of the business. Harris Associates L P grew its stake in shares of APA by 22.7% in the 2nd quarter. Harris Associates L P now owns 13,374,458 shares of the company’s stock valued at $457,005,000 after buying an additional 2,470,829 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of APA by 191.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,248 shares of the company’s stock valued at $129,952,000 after buying an additional 2,064,022 shares during the period. Vanguard Group Inc. grew its stake in shares of APA by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock valued at $1,714,656,000 after buying an additional 2,003,862 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of APA by 10.6% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after buying an additional 1,938,335 shares during the period. Finally, Barclays PLC grew its stake in shares of APA by 113.4% in the 2nd quarter. Barclays PLC now owns 2,026,480 shares of the company’s stock valued at $69,245,000 after buying an additional 1,076,668 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 2.80%. APA’s dividend payout ratio is presently 10.78%.

About APA

(Get Free Report)

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.

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Earnings History and Estimates for APA (NASDAQ:APA)



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