Zacks Research Issues Optimistic Outlook for APA Earnings

APA Co. (NASDAQ:APA) – Zacks Research upped their Q3 2024 earnings estimates for APA in a report released on Monday, October 14th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings per share of $0.89 for the quarter, up from their prior estimate of $0.77. The consensus estimate for APA’s current full-year earnings is $3.97 per share. Zacks Research also issued estimates for APA’s Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $3.41 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.65 EPS, Q1 2026 earnings at $1.00 EPS, Q2 2026 earnings at $0.88 EPS, Q3 2026 earnings at $0.64 EPS and FY2026 earnings at $3.42 EPS.

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

A number of other research analysts have also recently issued reports on APA. Barclays decreased their price target on shares of APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company decreased their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Wolfe Research initiated coverage on shares of APA in a research report on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 target price on shares of APA in a research report on Tuesday, September 17th. Finally, Sanford C. Bernstein decreased their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $34.86.

APA Trading Up 0.5 %

NASDAQ APA opened at $24.92 on Wednesday. The company has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $29.18. The stock has a market cap of $9.25 billion, a P/E ratio of 2.79 and a beta of 3.23. APA has a 12-month low of $22.72 and a 12-month high of $43.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Institutional Trading of APA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the last quarter. Vanguard Group Inc. increased its position in shares of APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares during the last quarter. Webs Creek Capital Management LP purchased a new stake in shares of APA in the 1st quarter valued at approximately $28,593,000. AQR Capital Management LLC lifted its holdings in shares of APA by 112.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock worth $42,092,000 after acquiring an additional 767,557 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of APA by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after purchasing an additional 455,312 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.01%. The ex-dividend date is Tuesday, October 22nd. APA’s 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.