Capital One Financial Increases Earnings Estimates for APA

APA Co. (NASDAQ:APA) – Analysts at Capital One Financial increased their FY2024 EPS estimates for APA in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the company will post earnings per share of $4.09 for the year, up from their prior estimate of $4.06. The consensus estimate for APA’s current full-year earnings is $4.01 per share. Capital One Financial also issued estimates for APA’s Q4 2024 earnings at $1.13 EPS.

Several other equities analysts have also weighed in on the company. Barclays cut their target price on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, November 8th. Truist Financial reduced their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Bernstein Bank lowered their target price on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Citigroup reduced their price target on shares of APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Finally, Piper Sandler lowered their price objective on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.55.

APA Stock Up 0.1 %

NASDAQ:APA opened at $23.68 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 12-month low of $20.32 and a 12-month high of $36.04. The stock’s fifty day simple moving average is $22.44 and its 200-day simple moving average is $25.73. The firm has a market capitalization of $8.76 billion, a P/E ratio of 3.34 and a beta of 3.16.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.22%. APA’s payout ratio is currently 14.12%.

Insiders Place Their Bets

In related news, Director Juliet S. Ellis purchased 4,391 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the purchase, the director now directly owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

A number of institutional investors and hedge funds have recently made changes to their positions in APA. TD Private Client Wealth LLC lifted its stake in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. Huntington National Bank raised its stake in APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after buying an additional 561 shares during the period. Blue Trust Inc. lifted its position in shares of APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,604 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of APA during the 2nd quarter worth approximately $76,000. Finally, Covestor Ltd increased its holdings in shares of APA by 40.8% during the 3rd quarter. Covestor Ltd now owns 3,093 shares of the company’s stock worth $76,000 after acquiring an additional 896 shares during the last quarter. 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.