Research Analysts Set Expectations for APA FY2024 Earnings

APA Co. (NASDAQ:APA - Free Report) - Investment analysts at Capital One Financial decreased their FY2024 earnings estimates for shares of APA in a research note issued to investors on Thursday, January 23rd. Capital One Financial analyst B. Velie now anticipates that the company will post earnings per share of $4.03 for the year, down from their previous forecast of $4.09. The consensus estimate for APA's current full-year earnings is $4.08 per share. Capital One Financial also issued estimates for APA's Q4 2024 earnings at $1.08 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.70 EPS, FY2025 earnings at $2.72 EPS and FY2026 earnings at $1.73 EPS.

Several other research analysts have also recently weighed in on APA. Wells Fargo & Company cut shares of APA from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $42.00 to $25.00 in a research report on Tuesday, December 17th. Truist Financial reduced their target price on APA from $36.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Piper Sandler cut their price objective on APA from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, December 17th. Mizuho dropped their target price on APA from $25.00 to $24.00 and set an "underperform" rating for the company in a research report on Monday, December 16th. Finally, Susquehanna reduced their price target on shares of APA from $52.00 to $48.00 and set a "positive" rating on the stock in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $30.65.

APA Price Performance

NASDAQ APA traded up $0.07 during trading hours on Monday, hitting $23.39. The company had a trading volume of 5,461,205 shares, compared to its average volume of 6,388,811. The firm has a 50 day simple moving average of $22.77 and a 200 day simple moving average of $25.30. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA has a 52 week low of $20.32 and a 52 week high of $36.04. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 3.30 and a beta of 3.16.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Wednesday, January 22nd. APA's dividend payout ratio (DPR) is presently 14.12%.

Insider Buying and Selling

In other news, Director Juliet S. Ellis acquired 4,391 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now owns 12,436 shares of the company's stock, valued at $283,292.08. This trade represents a 54.58 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently made changes to their positions in APA. Harris Associates L P boosted its position in APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock worth $609,414,000 after purchasing an additional 4,293,932 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company's stock worth $745,341,000 after buying an additional 3,411,270 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of APA by 3,450.8% in the third quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company's stock worth $24,115,000 after buying an additional 958,141 shares during the last quarter. AQR Capital Management LLC increased its holdings in APA by 112.6% during the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company's stock valued at $42,092,000 after buying an additional 767,557 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in APA by 17.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,102,659 shares of the company's stock worth $100,351,000 after acquiring an additional 600,612 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.