Zacks Research Analysts Increase Earnings Estimates for APA Co. (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Equities researchers at Zacks Research lifted their Q3 2024 EPS estimates for APA in a research report issued on Monday, October 14th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings of $0.89 per share for the quarter, up from their prior forecast of $0.77. The consensus estimate for APA’s current full-year earnings is $3.97 per share. Zacks Research also issued estimates for APA’s Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $3.41 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.65 EPS, Q1 2026 earnings at $1.00 EPS, Q2 2026 earnings at $0.88 EPS, Q3 2026 earnings at $0.64 EPS and FY2026 earnings at $3.42 EPS.

Other equities analysts have also issued research reports about the stock. Truist Financial upped their price target on shares of APA from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein lowered their price target on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Mizuho reduced their price objective on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Barclays cut their price objective on shares of APA from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus target price of $34.86.

APA Stock Down 0.2 %

Shares of NASDAQ APA opened at $24.80 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $9.21 billion, a PE ratio of 2.77 and a beta of 3.23. The firm’s 50-day moving average is $26.56 and its two-hundred day moving average is $29.21. APA has a 12-month low of $22.72 and a 12-month high of $43.58.

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

Hedge Funds Weigh In On APA

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares in the last quarter. Dimensional Fund Advisors LP raised its position in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares during the period. Bank of New York Mellon Corp raised its position in APA by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after acquiring an additional 455,312 shares during the period. LSV Asset Management raised its position in shares of APA by 4.9% in the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock valued at $81,193,000 after purchasing an additional 129,841 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of APA by 1.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock valued at $42,730,000 after purchasing an additional 16,287 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.03%. APA’s dividend payout ratio is 11.19%.

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.