APA Co. (NASDAQ:APA - Free Report) - Analysts at Zacks Research increased their Q1 2024 EPS estimates for shares of APA in a report released on Monday, April 22nd. Zacks Research analyst N. Choudhury now expects that the company will post earnings of $0.75 per share for the quarter, up from their prior estimate of $0.73. The consensus estimate for APA's current full-year earnings is $4.96 per share. Zacks Research also issued estimates for APA's Q2 2024 earnings at $0.97 EPS, Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $1.05 EPS and FY2024 earnings at $3.57 EPS.
APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.18). The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. APA's revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS.
Other analysts also recently issued reports about the stock. Johnson Rice downgraded shares of APA from a "buy" rating to a "hold" rating and set a $40.00 target price on the stock. in a report on Friday, January 5th. Susquehanna increased their price objective on APA from $50.00 to $54.00 and gave the company a "positive" rating in a research report on Monday. Barclays began coverage on APA in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $40.00 target price on the stock. Roth Mkm boosted their price objective on APA from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of APA from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $42.25.
View Our Latest Report on APA
APA Price Performance
Shares of APA traded down $0.01 during midday trading on Wednesday, reaching $32.05. The stock had a trading volume of 4,521,136 shares, compared to its average volume of 6,836,163. APA has a 52 week low of $29.47 and a 52 week high of $46.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $9.65 billion, a P/E ratio of 3.45 and a beta of 3.27. The firm's 50 day moving average price is $32.46 and its 200-day moving average price is $34.53.
APA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, April 19th. APA's payout ratio is 10.78%.
Institutional Trading of APA
A number of institutional investors and hedge funds have recently made changes to their positions in APA. HB Wealth Management LLC bought a new stake in shares of APA during the 3rd quarter worth $256,000. Daiwa Securities Group Inc. increased its stake in shares of APA by 28.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company's stock worth $1,193,000 after purchasing an additional 7,461 shares during the period. Ferguson Wellman Capital Management Inc. boosted its stake in APA by 3.2% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company's stock valued at $44,412,000 after purchasing an additional 38,505 shares during the period. AustralianSuper Pty Ltd grew its holdings in APA by 14.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company's stock valued at $26,053,000 after buying an additional 90,610 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in APA by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company's stock worth $104,037,000 after buying an additional 24,182 shares during the period. Institutional investors and hedge funds own 83.01% of the company's stock.
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.
Featured Articles
Before you consider APA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and APA wasn't on the list.
While APA currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
