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

APA Co. (NASDAQ:APAGet Rating) – Analysts at Jefferies Financial Group lowered their FY2022 earnings per share estimates for APA in a research report issued to clients and investors on Sunday, November 20th. Jefferies Financial Group analyst L. Byrne now expects that the company will earn $8.53 per share for the year, down from their prior estimate of $9.40. Jefferies Financial Group currently has a “Hold” rating and a $45.00 target price on the stock. The consensus estimate for APA’s current full-year earnings is $8.10 per share. Jefferies Financial Group also issued estimates for APA’s Q2 2023 earnings at $2.00 EPS.

Other equities research analysts have also issued reports about the stock. Susquehanna Bancshares lowered their target price on shares of APA from $52.00 to $49.00 and set a “positive” rating on the stock in a research note on Friday, August 5th. Piper Sandler raised their price target on shares of APA from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, November 17th. StockNews.com downgraded shares of APA from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 5th. MKM Partners lifted their target price on shares of APA from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 26th. Finally, Raymond James dropped their price target on shares of APA from $75.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 5th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, APA currently has an average rating of “Moderate Buy” and an average price target of $52.39.

APA Price Performance

Shares of APA opened at $46.78 on Wednesday. The business’s 50-day moving average is $44.29 and its two-hundred day moving average is $39.53. The company has a market capitalization of $15.04 billion, a P/E ratio of 4.47, a P/E/G ratio of 0.26 and a beta of 3.70. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.05 and a current ratio of 1.05. APA has a fifty-two week low of $22.94 and a fifty-two week high of $51.95.

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

APA announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 14th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

APA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st were given a $0.25 dividend. This is an increase from APA’s previous quarterly dividend of $0.13. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Thursday, October 20th. APA’s dividend payout ratio (DPR) is 9.55%.

Institutional Trading of APA

Several institutional investors have recently made changes to their positions in APA. Clear Street Markets LLC raised its position in shares of APA by 375.2% in the second 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 period. James Investment Research Inc. boosted 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 in the last quarter. Larson Financial Group LLC acquired a new stake in shares of APA in the 2nd quarter valued at $26,000. Core Alternative Capital boosted 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 in the last quarter. Finally, Clearstead Advisors LLC acquired a new stake in shares of APA in the 2nd quarter valued at $31,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

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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.

Further Reading

Earnings History and Estimates for APA (NASDAQ:APA)

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