Q2 2022 Earnings Forecast for APA Co. (NASDAQ:APA) Issued By Capital One Financial

APA Co. (NASDAQ:APA – Get Rating) – Stock analysts at Capital One Financial decreased their Q2 2022 earnings per share (EPS) estimates for shares of APA in a note issued to investors on Wednesday, April 20th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings of $2.13 per share for the quarter, down from their prior forecast of $2.34. Capital One Financial also issued estimates for APA’s Q4 2022 earnings at $2.54 EPS, FY2022 earnings at $9.37 EPS and FY2023 earnings at $7.36 EPS.

APA (NASDAQ:APA – Get Rating) last released its quarterly earnings results on Sunday, February 20th. The company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm posted ($0.05) earnings per share.

APA has been the topic of a number of other research reports. Stifel Nicolaus upped their price target on APA from $33.00 to $37.00 in a report on Tuesday, January 4th. Raymond James increased their target price on APA from $53.00 to $59.00 and gave the company a “strong-buy” rating in a report on Thursday, February 24th. MKM Partners increased their target price on APA from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, February 23rd. Piper Sandler increased their target price on APA from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, April 7th. Finally, Morgan Stanley increased their target price on APA from $41.00 to $57.00 and gave the company an “overweight” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $43.18.

APA opened at $40.71 on Monday. The stock has a market cap of $14.12 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.10 and a beta of 4.43. The stock’s 50 day simple moving average is $39.00 and its 200 day simple moving average is $32.27. APA has a 1-year low of $15.55 and a 1-year high of $45.22.

Large investors have recently added to or reduced their stakes in the business. UBS Group AG grew its stake in shares of APA by 1,385.5% during the third quarter. UBS Group AG now owns 11,324,861 shares of the company’s stock valued at $242,692,000 after acquiring an additional 10,562,493 shares in the last quarter. Invesco Ltd. grew its stake in APA by 43.5% in the third quarter. Invesco Ltd. now owns 14,946,028 shares of the company’s stock worth $320,293,000 after purchasing an additional 4,533,555 shares in the last quarter. Millennium Management LLC grew its stake in APA by 565.2% in the fourth quarter. Millennium Management LLC now owns 2,473,762 shares of the company’s stock worth $66,519,000 after purchasing an additional 2,101,876 shares in the last quarter. Morgan Stanley grew its stake in APA by 116.8% in the second quarter. Morgan Stanley now owns 3,741,019 shares of the company’s stock worth $80,919,000 after purchasing an additional 2,015,378 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new position in APA in the fourth quarter worth about $2,007,000. 86.58% of the stock is currently owned by institutional investors.

In other news, CFO Stephen J. Riney bought 6,300 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average cost of $31.47 per share, with a total value of $198,261.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chansoo Joung acquired 40,000 shares of the business’s stock in a transaction on Friday, February 25th. The stock was bought at an average cost of $32.92 per share, for a total transaction of $1,316,800.00. The disclosure for this purchase can be found here. Company insiders own 0.88% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 23rd. Investors of record on Friday, April 22nd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, April 21st. APA’s dividend payout ratio (DPR) is currently 19.31%.

APA Company Profile (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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