Q3 Earnings Forecast for APA Issued By Capital One Financial

APA Co. (NASDAQ:APA) – Research analysts at Capital One Financial upped their Q3 2024 EPS estimates for shares of APA in a note issued to investors on Monday, October 14th. Capital One Financial analyst B. Velie now forecasts that the company will post earnings of $0.95 per share for the quarter, up from their previous forecast of $0.70. The consensus estimate for APA’s current full-year earnings is $3.97 per share. Capital One Financial also issued estimates for APA’s Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.71 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.37 EPS, FY2025 earnings at $1.42 EPS and FY2026 earnings at $1.47 EPS.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company reduced their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report 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 on the stock in a report on Monday, September 30th. Wolfe Research assumed coverage on shares of APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price objective on the stock. Mizuho cut their price objective on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Finally, Sanford C. Bernstein cut their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $34.18.

APA Stock Performance

NASDAQ:APA opened at $25.16 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 2.81 and a beta of 3.23. The firm’s fifty day simple moving average is $26.43 and its 200 day simple moving average is $29.11. APA has a twelve month low of $22.72 and a twelve month high of $43.58.

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

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Hedge Funds Weigh In On APA

Several institutional investors have recently modified their holdings of the company. Sunpointe LLC grew its position in shares of APA by 2.8% during the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after acquiring an additional 362 shares during the last quarter. GAMMA Investing LLC lifted its holdings in APA by 12.0% in the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after purchasing an additional 380 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in APA by 6.7% in the second quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after purchasing an additional 429 shares during the period. Inspire Investing LLC lifted its holdings in APA by 3.7% in the first quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock worth $445,000 after purchasing an additional 457 shares during the period. Finally, American International Group Inc. lifted its holdings in APA by 0.5% in the fourth quarter. American International Group Inc. now owns 86,458 shares of the company’s stock worth $3,102,000 after purchasing an additional 461 shares during the period. Institutional investors own 83.01% of the company’s stock.

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.