Q3 2024 EPS Estimates for APA Co. Boosted by Analyst (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Stock analysts at Zacks Research increased their Q3 2024 earnings per share estimates for APA in a research report issued on Wednesday, August 14th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings per share of $1.01 for the quarter, up from their previous forecast of $0.98. The consensus estimate for APA’s current full-year earnings is $4.17 per share. Zacks Research also issued estimates for APA’s FY2024 earnings at $4.19 EPS, Q2 2025 earnings at $1.10 EPS, Q3 2025 earnings at $1.28 EPS and Q4 2025 earnings at $1.34 EPS.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share.

Other research analysts have also issued reports about the company. Citigroup dropped their price objective on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Piper Sandler dropped their price objective on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday. Bank of America reiterated an “underperform” rating and set a $31.00 price objective on shares of APA in a research note on Friday, June 14th. Evercore ISI lowered APA from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $52.00 to $39.00 in a research note on Friday, June 14th. Finally, Scotiabank dropped their price objective on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued 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 $38.27.

APA Stock Down 0.8 %

Shares of APA stock opened at $29.25 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.16. The stock has a fifty day moving average price of $29.49 and a 200 day moving average price of $30.77. APA has a one year low of $26.81 and a one year high of $46.15. The stock has a market cap of $10.86 billion, a P/E ratio of 3.27 and a beta of 3.26.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s dividend payout ratio is 11.19%.

Hedge Funds Weigh In On APA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares during the last quarter. Daiwa Securities Group Inc. raised its position in APA by 28.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock valued at $1,193,000 after buying an additional 7,461 shares during the last quarter. Summa Corp. acquired a new stake in APA in the 4th quarter valued at approximately $7,571,000. Wealthquest Corp raised its position in APA by 21.7% in the 4th quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after buying an additional 27,513 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in APA by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after buying an additional 345,192 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

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.