Q1 2024 EPS Estimates for APA Co. (NASDAQ:APA) Lifted by Analyst

APA Co. (NASDAQ:APAFree Report) – Equities research analysts at Capital One Financial increased their Q1 2024 earnings estimates for APA in a research report issued to clients and investors on Wednesday, April 10th. Capital One Financial analyst B. Velie now anticipates that the company will earn $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.

APA has been the subject of a number of other reports. Truist Financial reduced their price objective on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Susquehanna reduced their price objective on shares of APA from $53.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Johnson Rice downgraded 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. The Goldman Sachs Group dropped their target price on APA from $35.00 to $31.00 and set a “sell” rating on the stock in a report on Tuesday, March 26th. Finally, Mizuho dropped their target price on APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.30.

View Our Latest Analysis on APA

APA Price Performance

APA stock opened at $33.72 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. APA has a one year low of $29.47 and a one year high of $46.15. The firm has a market capitalization of $10.18 billion, a PE ratio of 3.63 and a beta of 3.27. The firm has a 50-day moving average of $32.14 and a two-hundred day moving average of $34.88.

APA (NASDAQ:APAGet Free Report) last issued its quarterly earnings results 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 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 period in the previous year, the company posted $1.48 earnings per share. APA’s revenue was down 12.3% compared to the same quarter last year.

Institutional Investors Weigh In On APA

Large investors have recently added to or reduced their stakes in the stock. American National Bank boosted its position in APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Covestor Ltd boosted its position in shares of APA by 117.8% in the first quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after acquiring an additional 437 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of APA in the third quarter valued at approximately $34,000. Quent Capital LLC boosted its position in shares of APA by 64.0% in the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after acquiring an additional 375 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in shares of APA in the fourth quarter valued at approximately $34,000. Institutional investors own 83.01% of the company’s stock.

APA Dividend Announcement

The business 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. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.97%. APA’s payout ratio is currently 10.78%.

About APA

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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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Earnings History and Estimates for APA (NASDAQ:APA)

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