APA Co. to Post FY2024 Earnings of $4.34 Per Share, Roth Capital Forecasts (NASDAQ:APA)

APA Co. (NASDAQ:APA) – Roth Capital lifted their FY2024 earnings per share (EPS) estimates for APA in a research note issued to investors on Thursday, August 1st. Roth Capital analyst L. Mariani now forecasts that the company will post earnings of $4.34 per share for the year, up from their previous estimate of $4.31. The consensus estimate for APA’s current full-year earnings is $4.17 per share.

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

A number of other equities analysts have also weighed in on APA. Truist Financial upped their target price on APA from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group lowered their target price on APA from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price target on shares of APA in a report on Wednesday, July 10th. Mizuho upped their price target on APA from $34.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on APA from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, APA has an average rating of “Hold” and a consensus price target of $38.64.

APA Price Performance

Shares of NASDAQ:APA opened at $27.11 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. APA has a twelve month low of $26.81 and a twelve month high of $46.15. The stock’s 50 day moving average is $29.60 and its 200-day moving average is $30.93. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 3.03 and a beta of 3.26.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.69%. APA’s dividend payout ratio is presently 11.19%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in APA by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock worth $898,000 after purchasing an additional 358 shares in the last quarter. Sunpointe LLC lifted its holdings in APA by 2.8% during the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after purchasing an additional 362 shares in the last quarter. GAMMA Investing LLC lifted its holdings in APA by 12.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after purchasing an additional 380 shares in the last quarter. SVB Wealth LLC lifted its holdings in APA by 7.0% during the 4th quarter. SVB Wealth LLC now owns 5,868 shares of the company’s stock worth $211,000 after purchasing an additional 386 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in APA by 0.9% during the 4th quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock worth $1,775,000 after purchasing an additional 436 shares in the last quarter. Hedge funds and other institutional investors 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.