Roth Capital Predicts APA’s FY2024 Earnings (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Stock analysts at Roth Capital reduced their FY2024 earnings per share estimates for APA in a report issued on Thursday, November 7th. Roth Capital analyst L. Mariani now expects that the company will earn $4.08 per share for the year, down from their previous estimate of $4.34. The consensus estimate for APA’s current full-year earnings is $3.99 per share. Roth Capital also issued estimates for APA’s Q4 2024 earnings at $1.13 EPS.

APA has been the subject of several other reports. JPMorgan Chase & Co. reduced their price target on APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. The Goldman Sachs Group reduced their price target on APA from $26.00 to $25.00 in a research report on Friday, October 18th. Scotiabank reduced their price target on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Piper Sandler reduced their price target on APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Wolfe Research initiated coverage on APA in a research report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target for the company. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

APA Price Performance

Shares of NASDAQ APA opened at $22.17 on Monday. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 3.13 and a beta of 3.24. The stock has a fifty day simple moving average of $24.81 and a two-hundred day simple moving average of $27.92. APA has a 1-year low of $21.15 and a 1-year high of $38.27. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 1.03.

APA Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.51%. APA’s dividend payout ratio is currently 14.12%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Covestor Ltd increased its holdings in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after buying an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new position in APA during the 2nd quarter valued at about $42,000. Huntington National Bank increased its holdings in APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after purchasing an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its holdings in APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after purchasing an additional 1,590 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.