APA Co. (NASDAQ: APA) – Equity researchers at Capital One Financial lowered their estimates of earnings per share for fiscal 2023 for shares of APA in a report released on Wednesday, September 29. Capital One Financial analyst B. Velie now expects the company to post earnings of $ 2.16 per share for the year, down from its previous forecast of $ 2.17.
Several other brokerages have also recently published reports on ABS. KeyCorp lowered its price target on APA from $ 26.00 to $ 25 and set an “overweight” rating on the stock in a report released on Wednesday, July 21. Zacks Investment Research reduced the APA from a “buy” rating to a “keep” rating and set a price target of $ 20.00 for the company. in a research note on Tuesday, August 31. Sanford C. Bernstein downgraded the APA from a “market performance” rating to an “outperformance” rating and raised its price target for the company from $ 23.00 to $ 35 in a report released on Monday June 21. JPMorgan Chase & Co. downgraded the APA from an “overweight” rating to a “neutral” rating and set a price target of $ 27.00 for the share. in a research note on Friday, June 25. Finally, Truist lowered its target price on the APA from $ 24.00 to $ 20.00 and set a “hold” rating on the stock in a research report on Tuesday, July 20. Nine equity research analysts rated the stock with a conservation rating, seven assigned a buy rating, and one gave the company a high buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $ 25.25.
APA stock opened at $ 21.43 on Friday. The APA has a one-year minimum of $ 7.45 and a one-year maximum of $ 24.30. The company has a debt to equity ratio of 110.79, a current ratio of 1.66, and a quick ratio of 1.66. The company has a market cap of $ 8.10 billion, a price / earnings ratio of 12.04, a PEG ratio of 0.50 and a beta of 4.94. The company has a 50-day simple moving average of $ 19.03 and a 200-day simple moving average of $ 19.77. The APA (NASDAQ: APA) last reported its quarterly results on Tuesday, August 3. The company reported earnings per share (EPS) of $ 0.70 for the quarter, beating Zacks’ consensus estimate of $ 0.57 by $ 0.13. The company posted revenue of $ 1.78 billion in the quarter, compared to a consensus estimate of $ 1.50 billion. APA had a negative return on equity of 145.33% and a net margin of 11.43%. The company’s revenue increased 137.0% year-on-year. During the same period of the previous year, the company posted EPS ($ 0.74).
The company also recently announced a quarterly dividend, which will be paid on Monday, November 22. Investors of record on Friday, October 22 will receive a dividend of $ 0.063. The ex-dividend date is Thursday, October 21. This represents a dividend of $ 0.25 on an annualized basis and a return of 1.18%. This is a boost from the APA’s previous quarterly dividend of $ 0.03. APA’s dividend payout ratio (DPR) is currently -9.26%.
In addition, director Chansoo Joung sold 20,000 APA shares in a transaction on Tuesday, August 10. The stock was sold for an average price of $ 19.06, for a total value of $ 381,200.00. As a result of the transaction, the director now owns 25,285 shares of the company, valued at $ 481,932.10. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the shares are currently owned by insiders of the company.
A number of large investors have recently increased or reduced their holdings in APA. Vanguard Group Inc. increased its position in shares of APA by 3.7% during the second quarter. Vanguard Group Inc. now owns 45,277,939 shares of the company valued at $ 979,362,000 after acquiring an additional 1,626,486 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of APA by 8.7% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 25,938,035 shares of the company valued at $ 561,040,000 after acquiring an additional 2,074,061 shares during the last quarter. BlackRock Inc. increased its position in shares of APA by 0.8% during the second quarter. BlackRock Inc. now owns 24,226,210 shares of the company valued at $ 524,013,000 after acquiring an additional 187,265 shares during the last quarter. FMR LLC increased its position in shares of APA by 22.3% during the second quarter. FMR LLC now owns 11,257,709 shares of the company valued at $ 243,504,000 after acquiring an additional 2,054,563 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in APA shares by 0.4% during the second quarter. Geode Capital Management LLC now owns 6,838,704 shares of the company valued at $ 147,674,000 after acquiring an additional 24,226 shares during the last quarter. 82.42% of the shares are currently held by institutional investors.
APA Company Profile
APA Corp. explores oil and natural gas through its subsidiaries. It produces oil and gas with operations in the United States, Egypt and the United Kingdom and exploration activities off Suriname. The company was founded in 1954 and is headquartered in Houston, Texas.
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