APA Co. Forecasted to Post Q1 2024 Earnings of $0.75 Per Share (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Equities research analysts at Zacks Research upped their Q1 2024 earnings per share estimates for APA in a research note issued on Monday, April 22nd. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings per share of $0.75 for the quarter, up from their previous forecast 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.

Several other research firms have also recently commented on APA. The Goldman Sachs Group cut their price target on APA from $35.00 to $31.00 and set a “sell” rating for the company in a report on Tuesday, March 26th. Barclays started coverage on APA in a report on Wednesday, April 10th. They set an “equal weight” rating and a $40.00 price target on the stock. Morgan Stanley reissued an “underweight” rating and set a $28.00 price target on shares of APA in a research report on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of APA from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Johnson Rice lowered 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. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.25.

APA Trading Down 0.0 %

APA opened at $32.05 on Wednesday. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 3.45 and a beta of 3.27. The company’s 50 day simple moving average is $32.51 and its two-hundred day simple moving average is $34.52. APA has a 1-year low of $29.47 and a 1-year 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.

APA (NASDAQ:APA) last issued its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company earned $1.48 earnings per share. APA’s quarterly revenue was down 12.3% on a year-over-year basis.

Institutional Trading of APA

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in APA by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 42,643,529 shares of the company’s stock worth $1,530,050,000 after acquiring an additional 924,400 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after purchasing an additional 1,938,335 shares in the last quarter. Harris Associates L P increased its holdings in APA by 17.8% in the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after buying an additional 2,367,570 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in APA by 13.6% during the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock worth $187,866,000 after buying an additional 626,460 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of APA by 1.9% in the 3rd quarter. Clearbridge Investments LLC now owns 2,815,109 shares of the company’s stock valued at $115,701,000 after acquiring an additional 53,241 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a yield of 3.12%. APA’s dividend payout ratio (DPR) is presently 10.78%.

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.