Equities Analysts Set Expectations for APA Co.’s Q3 2024 Earnings (NASDAQ:APA)

Posted by on Oct 9th, 2023

APA Co. (NASDAQ:APA – Free Report) – Investment analysts at Capital One Financial boosted their Q3 2024 earnings per share (EPS) estimates for APA in a research report issued to clients and investors on Friday, October 6th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings per share of $1.71 for the quarter, up from their prior estimate of $1.70. The consensus estimate for APA’s current full-year earnings is $4.68 per share. Capital One Financial also issued estimates for APA’s Q4 2024 earnings at $1.91 EPS, FY2024 earnings at $6.23 EPS and FY2025 earnings at $8.80 EPS.

APA (NASDAQ:APA – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.74 billion. APA had a return on equity of 117.05% and a net margin of 16.14%. The firm’s quarterly revenue was down 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.37 earnings per share.

Other research analysts have also recently issued research reports about the company. Benchmark reiterated a “buy” rating and issued a $46.00 price target on shares of APA in a research note on Thursday, September 14th. StockNews.com began coverage on APA in a report on Thursday. They issued a “hold” rating for the company. Mizuho boosted their price objective on APA from $47.00 to $49.00 and gave the company an “underperform” rating in a report on Monday, September 18th. Raymond James lowered their price objective on APA from $53.00 to $51.00 and set a “strong-buy” rating for the company in a report on Monday, July 24th. Finally, Roth Mkm reissued a “buy” rating and issued a $47.00 price objective on shares of APA in a report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.53.

View Our Latest Stock Report on APA

APA Trading Down 0.4 %

NASDAQ:APA opened at $37.59 on Monday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.99 and a current ratio of 0.99. APA has a one year low of $30.67 and a one year high of $50.58. The business’s 50-day simple moving average is $42.41 and its 200 day simple moving average is $37.71. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 6.75 and a beta of 3.50.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.66%. APA’s dividend payout ratio (DPR) is 21.41%.

Institutional Investors Weigh In On APA

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of APA by 5.9% during the 1st quarter. CWM LLC now owns 6,144 shares of the company’s stock valued at $222,000 after acquiring an additional 340 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of APA during the 1st quarter valued at $513,000. Avantax Advisory Services Inc. lifted its position in shares of APA by 86.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,535 shares of the company’s stock valued at $596,000 after acquiring an additional 7,664 shares during the last quarter. Xponance Inc. lifted its position in shares of APA by 116.1% during the 1st quarter. Xponance Inc. now owns 87,281 shares of the company’s stock valued at $3,147,000 after acquiring an additional 46,885 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of APA by 110.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 32,836 shares of the company’s stock valued at $1,184,000 after acquiring an additional 17,241 shares during the last quarter. 80.48% of the stock is currently owned by institutional investors and hedge funds.

About APA

(Get Free Report)

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. 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, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.

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Earnings History and Estimates for APA (NASDAQ:APA)

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