FY2024 EPS Estimates for APA Cut by Capital One Financial

APA Co. (NASDAQ:APA) – Equities research analysts at Capital One Financial dropped their FY2024 earnings estimates for APA in a report issued on Thursday, January 23rd. Capital One Financial analyst B. Velie now anticipates that the company will earn $4.03 per share for the year, down from their prior estimate of $4.09. The consensus estimate for APA’s current full-year earnings is $4.08 per share. Capital One Financial also issued estimates for APA’s Q4 2024 earnings at $1.08 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.70 EPS, FY2025 earnings at $2.72 EPS and FY2026 earnings at $1.73 EPS.

Several other equities analysts also recently commented on the stock. Truist Financial lowered their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Barclays reduced their target price on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, November 8th. Citigroup dropped their price target on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group reduced their price objective on APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, APA currently has an average rating of “Hold” and an average price target of $30.65.

APA Stock Up 0.3 %

Shares of APA stock opened at $23.38 on Monday. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 3.30 and a beta of 3.16. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company’s fifty day moving average price is $22.79 and its 200-day moving average price is $25.26. APA has a one year low of $20.32 and a one year high of $36.04.

Institutional Trading of APA

Large investors have recently added to or reduced their stakes in the company. Country Club Bank lifted its stake in APA by 148.8% during the 4th quarter. Country Club Bank now owns 181,420 shares of the company’s stock valued at $4,067,000 after acquiring an additional 108,492 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of APA by 24.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 308,112 shares of the company’s stock worth $6,806,000 after purchasing an additional 60,245 shares during the last quarter. Ping Capital Management Inc. acquired a new position in APA during the fourth quarter valued at $231,000. Mather Group LLC. boosted its holdings in APA by 100.4% in the fourth quarter. Mather Group LLC. now owns 5,960 shares of the company’s stock valued at $138,000 after purchasing an additional 2,986 shares during the last quarter. Finally, Verity Asset Management Inc. acquired a new stake in APA during the 4th quarter worth about $286,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Insider Transactions at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now directly owns 12,436 shares of the company’s stock, valued at $283,292.08. This trade represents a 54.58 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s dividend payout ratio is currently 14.12%.

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.