Q1 2024 EPS Estimates for APA Co. Lifted by Capital One Financial (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Capital One Financial boosted their Q1 2024 earnings per share (EPS) estimates for APA in a research note issued on Wednesday, April 3rd. Capital One Financial analyst B. Velie now forecasts that the company will post earnings of $0.25 per share for the quarter, up from their prior estimate of $0.02. The consensus estimate for APA’s current full-year earnings is $4.46 per share. Capital One Financial also issued estimates for APA’s Q2 2024 earnings at $1.13 EPS, Q3 2024 earnings at $1.25 EPS, Q4 2024 earnings at $1.35 EPS, FY2024 earnings at $3.98 EPS and FY2025 earnings at $5.58 EPS.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a return on equity of 62.64% and a net margin of 34.95%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The business’s quarterly revenue was down 12.3% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 target price on shares of APA in a research note on Monday. The Goldman Sachs Group decreased their target price on APA from $35.00 to $31.00 and set a “sell” rating for the company in a research note on Tuesday, March 26th. UBS Group decreased their target price on APA from $48.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. Susquehanna decreased their target price on APA from $53.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $37.00 price objective (down previously from $43.00) on shares of APA in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.56.

APA Stock Performance

Shares of APA stock opened at $34.89 on Monday. The business has a 50-day simple moving average of $31.93 and a 200-day simple moving average of $35.03. The company has a market cap of $10.53 billion, a PE ratio of 3.76 and a beta of 3.27. APA has a one year low of $29.47 and a one year high of $46.15. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02.

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, April 19th. APA’s payout ratio is currently 10.78%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alaska Permanent Fund Corp grew its holdings in APA by 8.7% during the first quarter. Alaska Permanent Fund Corp now owns 76,500 shares of the company’s stock worth $2,630,000 after acquiring an additional 6,110 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in APA by 1.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,260,506 shares of the company’s stock worth $43,336,000 after acquiring an additional 22,719 shares during the period. Mather Group LLC. acquired a new position in APA during the first quarter worth $100,000. GAMMA Investing LLC grew its holdings in APA by 19.5% during the first quarter. GAMMA Investing LLC now owns 3,178 shares of the company’s stock worth $109,000 after acquiring an additional 519 shares during the period. Finally, CWM LLC grew its holdings in APA by 22.0% during the first quarter. CWM LLC now owns 9,255 shares of the company’s stock worth $318,000 after acquiring an additional 1,670 shares during the period. Institutional investors and hedge funds 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.