What is Zacks Research’s Forecast for APA FY2024 Earnings?

APA Co. (NASDAQ:APA) – Analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of APA in a research report issued on Tuesday, November 19th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings of $3.76 per share for the year, up from their previous estimate of $3.41. The consensus estimate for APA’s current full-year earnings is $3.97 per share. Zacks Research also issued estimates for APA’s Q4 2024 earnings at $0.81 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.84 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $2.65 EPS, Q1 2026 earnings at $1.07 EPS, Q2 2026 earnings at $0.63 EPS and Q3 2026 earnings at $0.72 EPS.

Other equities analysts have also recently issued research reports about the company. UBS Group reduced their price target on APA from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company decreased their target price on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Truist Financial reduced their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Scotiabank decreased their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, APA has an average rating of “Hold” and an average price target of $32.81.

APA Price Performance

NASDAQ:APA opened at $22.43 on Friday. The firm’s fifty day moving average is $24.37 and its two-hundred day moving average is $27.47. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 3.17 and a beta of 3.24. APA has a one year low of $21.15 and a one year high of $37.82.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.46%. APA’s dividend payout ratio (DPR) is 14.12%.

Institutional Investors Weigh In On APA

Several large investors have recently bought and sold shares of APA. Hotchkis & Wiley Capital Management LLC lifted its stake in APA by 12.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after purchasing an additional 3,411,270 shares during the last quarter. Harris Associates L P lifted its position in shares of APA by 20.8% during the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after buying an additional 4,293,932 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of APA by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock valued at $293,312,000 after buying an additional 485,291 shares during the last quarter. Smead Capital Management Inc. grew its holdings in shares of APA by 3.5% during the third quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after buying an additional 326,042 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in APA by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock valued at $226,928,000 after acquiring an additional 224,547 shares during the period. 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.