APA FY2024 EPS Estimate Increased by Capital One Financial

APA Co. (NASDAQ:APA) – Equities researchers at Capital One Financial raised their FY2024 earnings estimates for APA in a research note issued on Wednesday, November 13th. Capital One Financial analyst B. Velie now expects that the company will post earnings per share of $4.06 for the year, up from their prior forecast of $3.71. The consensus estimate for APA’s current full-year earnings is $3.98 per share. Capital One Financial also issued estimates for APA’s FY2026 earnings at $1.27 EPS.

Several other analysts have also issued reports on APA. Citigroup dropped their target price on APA from $32.00 to $29.00 in a report on Friday, October 18th. 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 note on Tuesday, October 1st. Evercore ISI cut their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Scotiabank decreased their target price on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Finally, UBS Group reduced their price target on APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.95.

APA Stock Performance

Shares of APA stock opened at $22.60 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 3.19 and a beta of 3.24. APA has a one year low of $21.15 and a one year high of $38.27. The stock’s 50-day moving average is $24.57 and its 200-day moving average is $27.76.

Institutional Trading of APA

A number of hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in shares of APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after acquiring an additional 1,079 shares during the period. Rothschild Investment LLC bought a new position in shares of APA during the second quarter valued at $42,000. Huntington National Bank lifted its holdings in shares of APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.42%. APA’s dividend payout ratio (DPR) is currently 14.12%.

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.