APA Co. (NASDAQ:APA) Expected to Earn Q2 2024 Earnings of $1.15 Per Share

APA Co. (NASDAQ:APA) – Research analysts at Capital One Financial upped their Q2 2024 earnings per share (EPS) estimates for shares of APA in a report issued on Wednesday, April 10th. Capital One Financial analyst B. Velie now expects that the company will post earnings of $1.15 per share for the quarter, up from their previous estimate of $1.13. The consensus estimate for APA’s current full-year earnings is $4.46 per share. Capital One Financial also issued estimates for APA’s Q3 2024 earnings at $1.27 EPS, Q4 2024 earnings at $1.37 EPS and FY2025 earnings at $5.59 EPS.

Several other equities analysts have also recently issued reports on APA. Johnson Rice cut APA from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. UBS Group reduced their target price on APA from $48.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, December 14th. Roth Mkm raised their target price on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Susquehanna cut their price objective on APA from $53.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Finally, Scotiabank reiterated a “sector perform” rating and set a $37.00 price objective (down previously from $43.00) on shares of APA in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and an average price target of $42.30.

APA Stock Performance

Shares of NASDAQ:APA opened at $34.40 on Friday. APA has a twelve month low of $29.47 and a twelve month high of $46.15. The firm has a market cap of $10.38 billion, a PE ratio of 3.71 and a beta of 3.27. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The business has a fifty day moving average of $32.07 and a 200-day moving average of $35.02.

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

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be paid a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 2.91%. APA’s dividend payout ratio (DPR) is presently 10.78%.

Institutional Trading of APA

A number of institutional investors have recently modified their holdings of APA. Cooper Financial Group raised its holdings in shares of APA by 97.5% during the 1st quarter. Cooper Financial Group now owns 16,591 shares of the company’s stock worth $570,000 after buying an additional 8,190 shares in the last quarter. Foundation Resource Management Inc. raised its holdings in shares of APA by 3.8% during the 1st quarter. Foundation Resource Management Inc. now owns 147,758 shares of the company’s stock worth $5,080,000 after buying an additional 5,353 shares in the last quarter. American National Bank raised its holdings in shares of APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares in the last quarter. Wedmont Private Capital increased its holdings in APA by 13.5% in the 1st quarter. Wedmont Private Capital now owns 7,463 shares of the company’s stock worth $260,000 after purchasing an additional 887 shares in the last quarter. Finally, Alaska Permanent Fund Corp increased its holdings in APA by 8.7% in the 1st quarter. Alaska Permanent Fund Corp now owns 76,500 shares of the company’s stock worth $2,630,000 after purchasing an additional 6,110 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

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.