Q3 2024 EPS Estimates for APA Co. (NASDAQ:APA) Lowered by Roth Capital

APA Co. (NASDAQ:APA) – Investment analysts at Roth Capital dropped their Q3 2024 earnings per share estimates for shares of APA in a research report issued to clients and investors on Thursday, August 1st. Roth Capital analyst L. Mariani now forecasts that the company will post earnings of $1.18 per share for the quarter, down from their prior forecast of $1.21. The consensus estimate for APA’s current full-year earnings is $4.17 per share. Roth Capital also issued estimates for APA’s Q4 2024 earnings at $1.21 EPS, Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $1.13 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.46 EPS and FY2025 earnings at $5.04 EPS.

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

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of APA from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Truist Financial boosted their target price on APA from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Bank of America reiterated an “underperform” rating and set a $31.00 price target on shares of APA in a research note on Friday, June 14th. Susquehanna boosted their price objective on APA from $54.00 to $57.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Finally, StockNews.com downgraded shares of APA from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and a consensus target price of $38.91.

APA Stock Performance

NASDAQ APA opened at $28.59 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.16 and a current ratio of 1.01. The company has a market capitalization of $10.61 billion, a PE ratio of 3.20 and a beta of 3.26. APA has a 52-week low of $27.17 and a 52-week high of $46.15. The company has a 50-day simple moving average of $29.69 and a 200 day simple moving average of $30.97.

Institutional Investors Weigh In On APA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harris Associates L P increased its position in shares of APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after purchasing an additional 2,367,570 shares during the last quarter. Vanguard Group Inc. grew its position in 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. Hotchkis & Wiley Capital Management LLC raised 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 acquiring an additional 1,938,335 shares in the last quarter. Webs Creek Capital Management LP bought a new stake in shares of APA in the 1st quarter worth approximately $28,593,000. Finally, Smead Capital Management Inc. boosted its stake in shares of APA by 13.6% in the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock valued at $187,866,000 after purchasing an additional 626,460 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s payout ratio is 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.