APA Co. (NASDAQ:APA) Forecasted to Post FY2024 Earnings of $4.55 Per Share

APA Co. (NASDAQ:APA) – Analysts at Zacks Research dropped their FY2024 earnings per share estimates for APA in a report issued on Monday, June 17th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings of $4.55 per share for the year, down from their previous estimate of $4.60. The consensus estimate for APA’s current full-year earnings is $4.63 per share. Zacks Research also issued estimates for APA’s Q4 2024 earnings at $1.36 EPS.

APA (NASDAQ:APA) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm earned $1.19 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year.

A number of other equities research analysts also recently commented on the company. StockNews.com downgraded APA from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Citigroup lowered their price target on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. JPMorgan Chase & Co. boosted their price target on APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Susquehanna boosted their price target on APA from $54.00 to $57.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Finally, Piper Sandler lowered their price target on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, May 14th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.52.

APA Price Performance

Shares of NASDAQ:APA opened at $28.00 on Wednesday. The company has a market cap of $10.39 billion, a P/E ratio of 3.13, a P/E/G ratio of 0.32 and a beta of 3.24. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. APA has a 52 week low of $27.36 and a 52 week high of $46.15. The business has a fifty day simple moving average of $30.60 and a 200-day simple moving average of $32.07.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Investors Weigh In On APA

A number of institutional investors have recently added to or reduced their stakes in the company. American National Bank boosted its holdings in shares of APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after acquiring an additional 490 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after acquiring an additional 375 shares in the last quarter. Rakuten Securities Inc. bought a new position in APA in the 4th quarter worth approximately $34,000. Covestor Ltd raised its position in APA by 75.4% in the 1st 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. Finally, Principal Securities Inc. bought a new position in APA in the 4th quarter worth approximately $39,000. 83.01% of the stock is owned by institutional investors and hedge funds.

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.