APA Co. to Post Q3 2024 Earnings of $1.34 Per Share, Roth Capital Forecasts (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Investment analysts at Roth Capital raised their Q3 2024 earnings per share (EPS) estimates for shares of APA in a research report issued to clients and investors on Wednesday, May 1st. Roth Capital analyst L. Mariani now anticipates that the company will post earnings per share of $1.34 for the quarter, up from their previous estimate of $1.20. The consensus estimate for APA’s current full-year earnings is $5.03 per share. Roth Capital also issued estimates for APA’s Q4 2024 earnings at $1.34 EPS, Q1 2025 earnings at $1.42 EPS, Q2 2025 earnings at $1.27 EPS, Q3 2025 earnings at $1.37 EPS, Q4 2025 earnings at $1.65 EPS and FY2025 earnings at $5.70 EPS.

Other equities analysts also recently issued reports about the company. Barclays decreased their target price on APA from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday. Raymond James lowered their price objective on APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. The Goldman Sachs Group reduced their price target on shares of APA from $35.00 to $31.00 and set a “sell” rating for the company in a report on Tuesday, March 26th. Scotiabank reaffirmed a “sector perform” rating and issued a $37.00 price objective (down previously from $43.00) on shares of APA in a report on Tuesday, January 16th. Finally, Truist Financial reduced their target price on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $42.05.

APA Trading Up 0.3 %

NASDAQ:APA opened at $29.26 on Monday. The company has a market cap of $8.81 billion, a PE ratio of 3.27 and a beta of 3.29. The business’s 50 day moving average is $32.52 and its two-hundred day moving average is $34.07. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. APA has a 52 week low of $28.90 and a 52 week high of $46.15.

APA (NASDAQ:APA) last released its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. APA’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, April 19th. APA’s dividend payout ratio is 11.19%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its stake in shares of APA by 28.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock valued at $1,193,000 after buying an additional 7,461 shares during the period. Ferguson Wellman Capital Management Inc. grew its stake in APA by 3.2% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock valued at $44,412,000 after purchasing an additional 38,505 shares in the last quarter. GAMMA Investing LLC acquired a new position in APA in the 4th quarter worth about $95,000. AustralianSuper Pty Ltd lifted its holdings in shares of APA by 14.3% during the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock valued at $26,053,000 after buying an additional 90,610 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of APA by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock valued at $104,037,000 after buying an additional 24,182 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Company Profile

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.