APA Co. (NASDAQ:APA) to Post Q3 2024 Earnings of $0.95 Per Share, Capital One Financial Forecasts

APA Co. (NASDAQ:APA) – Research analysts at Capital One Financial increased their Q3 2024 EPS estimates for APA in a note issued to investors on Monday, October 14th. Capital One Financial analyst B. Velie now anticipates that the company will earn $0.95 per share for the quarter, up from their prior forecast of $0.70. The consensus estimate for APA’s current full-year earnings is $3.97 per share. Capital One Financial also issued estimates for APA’s Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.71 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.37 EPS, FY2025 earnings at $1.42 EPS and FY2026 earnings at $1.47 EPS.

APA has been the topic of a number of other reports. Scotiabank reduced their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Sanford C. Bernstein decreased their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Truist Financial boosted their price target on APA from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group reduced their price objective on APA from $30.00 to $26.00 and set a “sell” rating for the company in a research report on Monday, October 7th. Finally, Piper Sandler dropped their target price on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $34.86.

APA Price Performance

APA opened at $24.80 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 2.77 and a beta of 3.23. The stock has a fifty day simple moving average of $26.56 and a two-hundred day simple moving average of $29.21. APA has a 12-month low of $22.72 and a 12-month high of $43.58.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 41.6% compared to the same quarter last year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.03%. APA’s payout ratio is 11.19%.

Institutional Investors Weigh In On APA

Hedge funds and other institutional investors have recently made changes to their positions in the business. American National Bank boosted its holdings in shares of APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares during the last quarter. Covestor Ltd boosted its stake in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after acquiring an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new stake in shares of APA in the 2nd quarter worth $42,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.