APA Co. (NASDAQ:APA - Free Report) - Equities researchers at Capital One Financial increased their Q1 2024 earnings estimates for shares of APA in a report issued on Wednesday, April 10th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings of $0.71 per share for the quarter, up from their previous forecast of $0.25. The consensus estimate for APA's current full-year earnings is $4.60 per share. Capital One Financial also issued estimates for APA's FY2024 earnings at $4.50 EPS.
A number of other research firms have also weighed in on APA. StockNews.com raised shares of APA from a "hold" rating to a "buy" rating in a research report on Friday. The Goldman Sachs Group dropped 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. Truist Financial dropped their target price on shares of APA from $59.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, April 5th. Morgan Stanley restated an "underweight" rating and issued a $28.00 target price on shares of APA in a research note on Monday. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $45.00 target price on shares of APA in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, APA presently has an average rating of "Hold" and a consensus price target of $41.80.
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APA Trading Down 1.7 %
APA stock traded down $0.56 during midday trading on Monday, reaching $33.16. The stock had a trading volume of 8,170,511 shares, compared to its average volume of 6,969,424. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. APA has a 52-week low of $29.47 and a 52-week high of $46.15. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 3.57 and a beta of 3.27. The company has a fifty day moving average of $32.21 and a 200 day moving average of $34.81.
APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.18). APA had a return on equity of 62.64% and a net margin of 34.95%. The firm had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same period last year, the company earned $1.48 earnings per share. The business's revenue for the quarter was down 12.3% compared to the same quarter last year.
APA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. APA's dividend payout ratio is currently 10.78%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Lido Advisors LLC raised its holdings in shares of APA by 1.2% during the third quarter. Lido Advisors LLC now owns 21,901 shares of the company's stock worth $900,000 after purchasing an additional 266 shares during the last quarter. DNB Asset Management AS raised its position in shares of APA by 0.6% in the fourth quarter. DNB Asset Management AS now owns 49,846 shares of the company's stock worth $1,788,000 after acquiring an additional 308 shares during the period. HB Wealth Management LLC raised its position in shares of APA by 5.0% in the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company's stock worth $234,000 after acquiring an additional 309 shares during the period. Horizon Investments LLC raised its position in shares of APA by 7.1% in the second quarter. Horizon Investments LLC now owns 4,902 shares of the company's stock worth $166,000 after acquiring an additional 323 shares during the period. Finally, Harbour Investments Inc. raised its position in shares of APA by 30.7% in the second quarter. Harbour Investments Inc. now owns 1,453 shares of the company's stock worth $50,000 after acquiring an additional 341 shares during the period. Hedge funds and other institutional investors own 83.01% of the company's stock.
APA Company Profile
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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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