Capital One Financial Reduces Earnings Estimates for APA

APA Co. (NASDAQ:APA) – Investment analysts at Capital One Financial lowered their FY2024 earnings per share estimates for shares of APA in a research report issued on Thursday, January 23rd. Capital One Financial analyst B. Velie now expects that the company will earn $4.03 per share for the year, down from their previous estimate of $4.09. The consensus estimate for APA’s current full-year earnings is $4.08 per share. Capital One Financial also issued estimates for APA’s Q4 2024 earnings at $1.08 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.70 EPS, FY2025 earnings at $2.72 EPS and FY2026 earnings at $1.73 EPS.

A number of other brokerages have also recently weighed in on APA. Barclays reduced their price objective on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, November 8th. Mizuho reduced their target price on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Susquehanna lowered their price target on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Piper Sandler cut their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.65.

APA Trading Down 0.2 %

Shares of NASDAQ:APA opened at $23.34 on Monday. APA has a 52 week low of $20.32 and a 52 week high of $36.04. The company’s 50 day moving average is $22.81 and its two-hundred day moving average is $25.21. The company has a market cap of $8.63 billion, a PE ratio of 3.30 and a beta of 3.16. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio is presently 14.12%.

Insider Activity

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of APA by 12.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 193,069 shares of the company’s stock valued at $5,684,000 after purchasing an additional 20,943 shares during the period. Sei Investments Co. increased its holdings in APA by 1.4% in the second quarter. Sei Investments Co. now owns 85,203 shares of the company’s stock worth $2,507,000 after buying an additional 1,140 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of APA by 2.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 62,379 shares of the company’s stock valued at $1,836,000 after purchasing an additional 1,670 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of APA by 22.0% during the 2nd quarter. Bank of Montreal Can now owns 341,077 shares of the company’s stock worth $10,048,000 after acquiring an additional 61,407 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in APA by 59.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 70,950 shares of the company’s stock worth $2,089,000 after purchasing an additional 26,397 shares during the period. 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.