APA Co. (NASDAQ:APA – Get Rating) – KeyCorp reduced their Q2 2022 earnings per share (EPS) estimates for shares of APA in a research note issued on Tuesday, April 19th. KeyCorp analyst L. Mariani now anticipates that the company will earn $1.24 per share for the quarter, down from their prior estimate of $1.28. KeyCorp has a “Overweight” rating and a $45.00 price target on the stock. KeyCorp also issued estimates for APA’s Q3 2022 earnings at $1.01 EPS, Q4 2022 earnings at $1.13 EPS, FY2022 earnings at $4.48 EPS, Q1 2023 earnings at $1.01 EPS, Q2 2023 earnings at $0.97 EPS, Q3 2023 earnings at $1.01 EPS, Q4 2023 earnings at $1.16 EPS and FY2023 earnings at $4.16 EPS.
Several other analysts have also recently issued reports on the stock. Barclays boosted their price objective on shares of APA from $53.00 to $56.00 in a research note on Friday. Susquehanna lowered their price objective on shares of APA from $43.00 to $42.00 and set a “positive” rating for the company in a research note on Thursday, February 24th. Morgan Stanley boosted their price objective on shares of APA from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, January 25th. MKM Partners boosted their price objective on shares of APA from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, February 23rd. Finally, Raymond James boosted their price objective on shares of APA from $53.00 to $59.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $42.34.
APA (NASDAQ:APA – Get Rating) last issued its quarterly earnings data on Sunday, February 20th. The company reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.14). APA had a negative return on equity of 552.09% and a net margin of 12.44%. During the same period last year, the company earned ($0.05) EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in APA. CVA Family Office LLC acquired a new stake in APA during the fourth quarter worth about $30,000. First Mercantile Trust Co. acquired a new stake in APA during the third quarter worth about $31,000. Ahrens Investment Partners LLC bought a new position in APA in the 4th quarter worth about $35,000. Outfitter Financial LLC bought a new position in APA in the 4th quarter worth about $48,000. Finally, MUFG Securities EMEA plc bought a new position in APA in the 3rd quarter worth about $53,000. Hedge funds and other institutional investors own 86.58% of the company’s stock.
In related news, CFO Stephen J. Riney bought 6,300 shares of the business’s stock in a transaction dated Thursday, February 24th. The shares were acquired at an average price of $31.47 per share, for a total transaction of $198,261.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider P Anthony Lannie sold 40,800 shares of the company’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $39.90, for a total transaction of $1,627,920.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 23rd. Stockholders of record on Friday, April 22nd will be paid a $0.125 dividend. The ex-dividend date is Thursday, April 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.19%. APA’s dividend payout ratio (DPR) is presently 19.31%.
About APA (Get Rating)
APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.
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