Roth Capital Has Bearish Estimate for APA FY2024 Earnings

APA Co. (NASDAQ:APA - Free Report) - Investment analysts at Roth Capital reduced their FY2024 earnings estimates for APA in a research report issued to clients and investors 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 prior estimate of $4.34. The consensus estimate for APA's current full-year earnings is $4.01 per share. Roth Capital also issued estimates for APA's Q4 2024 earnings at $1.13 EPS.

Several other research firms have also recently issued reports on APA. Evercore ISI decreased their price objective on shares of APA from $39.00 to $33.00 and set an "in-line" rating for the company in a report on Monday, September 30th. Wells Fargo & Company decreased their price target on APA from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Tuesday, October 1st. Bernstein Bank dropped their price objective on APA from $30.00 to $28.00 in a research note on Friday, October 18th. UBS Group decreased their target price on APA from $35.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. Finally, Wolfe Research started coverage on shares of APA in a research report on Thursday, July 18th. They issued an "outperform" rating and a $42.00 price target on the stock. Four investment 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $33.50.

APA Stock Performance

Shares of APA stock traded up $0.31 during trading hours on Monday, reaching $22.08. The stock had a trading volume of 6,217,854 shares, compared to its average volume of 6,244,872. 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 firm has a 50-day simple moving average of $24.94 and a 200-day simple moving average of $27.99. The firm has a market capitalization of $8.17 billion, a PE ratio of 3.14 and a beta of 3.24. APA has a twelve month low of $21.15 and a twelve month high of $38.27.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. APA's dividend payout ratio (DPR) is presently 14.12%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company's stock valued at $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company's stock valued at $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC acquired a new position in APA during the second quarter worth $42,000. Huntington National Bank lifted its stake in shares of APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company's stock valued at $42,000 after buying an additional 561 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC grew its holdings in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company's stock valued at $50,000 after buying an additional 1,590 shares during the last quarter. 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.