FY2022 EPS Estimates for APA Co. (NASDAQ:APA) Lowered by Analyst

APA Co. (NASDAQ:APAGet Rating) – Investment analysts at Capital One Financial cut their FY2022 earnings per share estimates for APA in a research note issued on Monday, November 21st. Capital One Financial analyst B. Velie now anticipates that the company will post earnings per share of $7.98 for the year, down from their previous estimate of $8.01. The consensus estimate for APA’s current full-year earnings is $8.10 per share. Capital One Financial also issued estimates for APA’s FY2024 earnings at $5.88 EPS.

APA (NASDAQ:APAGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.05. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.35 billion. APA had a return on equity of 325.67% and a net margin of 33.83%. APA’s quarterly revenue was up 40.2% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share.

A number of other research firms have also recently commented on APA. The Goldman Sachs Group boosted their price objective on APA from $38.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, October 19th. Susquehanna cut their price objective on APA from $52.00 to $49.00 and set a “positive” rating for the company in a research report on Friday, August 5th. Royal Bank of Canada boosted their price objective on APA from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Monday, November 14th. MKM Partners boosted their price objective on APA from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 26th. Finally, Truist Financial boosted their price target on APA from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.39.

APA Stock Down 2.1 %

APA stock opened at $46.78 on Wednesday. The stock has a market capitalization of $15.04 billion, a PE ratio of 4.47, a price-to-earnings-growth ratio of 0.26 and a beta of 3.70. APA has a 12 month low of $22.94 and a 12 month high of $51.95. The business has a 50 day simple moving average of $44.29 and a 200-day simple moving average of $39.53. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.05 and a quick ratio of 1.05.

APA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. This is a positive change from APA’s previous quarterly dividend of $0.13. APA’s payout ratio is 9.55%.

APA declared that its Board of Directors has approved a stock buyback plan on Wednesday, September 14th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. acquired a new position in shares of APA in the 3rd quarter valued at $273,000. Clear Street Markets LLC lifted its stake in shares of APA by 375.2% in the 2nd quarter. Clear Street Markets LLC now owns 708 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of APA in the 2nd quarter valued at $26,000. James Investment Research Inc. lifted its stake in shares of APA by 205.7% in the 2nd quarter. James Investment Research Inc. now owns 755 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the last quarter. Finally, Core Alternative Capital lifted its stake in shares of APA by 657.1% in the 3rd quarter. Core Alternative Capital now owns 795 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

About APA

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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Earnings History and Estimates for APA (NASDAQ:APA)

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