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

APA Co. (NASDAQ:APA) – Stock analysts at Zacks Research upped their Q1 2024 earnings per share estimates for shares of APA in a research report issued to clients and investors on Monday, April 22nd. Zacks Research analyst N. Choudhury now anticipates that the company will earn $0.75 per share for the quarter, up from their prior estimate of $0.73. The consensus estimate for APA’s current full-year earnings is $5.03 per share. Zacks Research also issued estimates for APA’s Q2 2024 earnings at $0.97 EPS, Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $1.05 EPS and FY2024 earnings at $3.57 EPS.

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

APA has been the topic of several other research reports. Mizuho decreased their price target on APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a report on Friday, March 15th. StockNews.com upgraded APA from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays started coverage on APA in a report on Wednesday, April 10th. They set an “equal weight” rating and a $40.00 price target on the stock. Johnson Rice lowered 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. Finally, Scotiabank restated a “sector perform” rating and set a $37.00 price target (down previously from $43.00) on shares of APA in a report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, APA presently has an average rating of “Hold” and a consensus price target of $42.25.

APA Stock Up 1.0 %

NASDAQ APA opened at $32.36 on Wednesday. The stock has a 50 day moving average price of $32.53 and a 200-day moving average price of $34.50. APA has a one year low of $29.47 and a one year high of $46.15. The company has a market capitalization of $9.74 billion, a P/E ratio of 3.49 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.

Institutional Trading of APA

Several institutional investors and hedge funds have recently made changes to their positions in APA. American National Bank raised its holdings in shares of APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after acquiring an additional 490 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of APA in the third quarter valued at about $34,000. Quent Capital LLC grew its stake in 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 purchasing an additional 375 shares during the last quarter. Rakuten Securities Inc. purchased a new position in APA in the fourth quarter valued at about $34,000. Finally, Principal Securities Inc. purchased a new position in APA in the fourth quarter valued at about $39,000. 83.01% of the stock is currently owned by institutional investors.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. APA’s payout ratio is currently 10.78%.

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.