What is Zacks Research’s Estimate for APA FY2024 Earnings?

APA Co. (NASDAQ:APA) – Research analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of APA in a note issued to investors on Tuesday, November 19th. Zacks Research analyst N. Choudhury now anticipates that the company will earn $3.76 per share for the year, up from their previous forecast of $3.41. 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 $0.81 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.84 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $2.65 EPS, Q1 2026 earnings at $1.07 EPS, Q2 2026 earnings at $0.63 EPS and Q3 2026 earnings at $0.72 EPS.

A number of other equities analysts have also recently commented on the company. Mizuho lowered their target price on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. 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 on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, UBS Group cut their target price on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.81.

APA Stock Performance

NASDAQ APA opened at $22.77 on Friday. The stock has a market cap of $8.42 billion, a PE ratio of 3.22 and a beta of 3.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a twelve month low of $21.15 and a twelve month high of $37.82. The stock has a fifty day simple moving average of $24.34 and a 200-day simple moving average of $27.42.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.39%. APA’s dividend payout ratio (DPR) is presently 14.12%.

Institutional Trading of APA

A number of institutional investors have recently modified their holdings of APA. Woodstock Corp boosted its position in shares of APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock worth $7,540,000 after buying an additional 51,993 shares in the last quarter. Ellis Investment Partners LLC purchased a new stake in shares of APA in the second quarter valued at about $2,499,000. AQR Capital Management LLC grew its position in shares of APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after purchasing an additional 767,557 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of APA by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock worth $30,852,000 after purchasing an additional 149,762 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of APA by 50.2% during the 2nd quarter. Hsbc Holdings PLC now owns 985,596 shares of the company’s stock worth $29,002,000 after purchasing an additional 329,462 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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.