$2.69 Billion in Sales Expected for APA Co. (NASDAQ:APA) This Quarter

Brokerages predict that APA Co. (NASDAQ:APA – Get Rating) will announce sales of $2.69 billion for the current quarter, according to Zacks. Four analysts have made estimates for APA’s earnings. The lowest sales estimate is $2.34 billion and the highest is $3.01 billion. APA posted sales of $1.78 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 51.1%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that APA will report full year sales of $11.01 billion for the current financial year, with estimates ranging from $9.48 billion to $12.30 billion. For the next financial year, analysts expect that the company will post sales of $10.19 billion, with estimates ranging from $9.25 billion to $11.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover APA.

APA (NASDAQ:APA – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. APA had a return on equity of 11,632.79% and a net margin of 30.21%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. APA’s revenue was up 42.7% on a year-over-year basis.

Several research analysts recently commented on APA shares. Mizuho raised APA from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.00 to $56.00 in a research note on Thursday, March 31st. Stifel Nicolaus boosted their price objective on APA from $51.00 to $59.00 and gave the company a “buy” rating in a report on Friday, May 6th. Morgan Stanley lifted their price target on shares of APA from $41.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Truist Financial boosted their price objective on shares of APA from $55.00 to $65.00 in a research report on Thursday, April 21st. Finally, Raymond James boosted their price objective on APA from $59.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Monday, April 25th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.55.

NASDAQ:APA opened at $41.15 on Friday. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 5.88, a price-to-earnings-growth ratio of 0.13 and a beta of 4.13. APA has a 1-year low of $15.55 and a 1-year high of $45.27. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.23 and a quick ratio of 1.12. The company has a 50 day moving average price of $40.81 and a 200-day moving average price of $33.72.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, July 22nd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.22%. APA’s payout ratio is 7.14%.

In other news, CFO Stephen J. Riney purchased 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, for a total transaction of $198,261.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider P Anthony Lannie sold 40,800 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The stock was 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. 0.88% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in APA. CVA Family Office LLC bought a new position in APA during the fourth quarter worth $30,000. First Mercantile Trust Co. acquired a new position in APA in the third quarter valued at about $31,000. Covestor Ltd raised its stake in APA by 117.8% during the first quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after acquiring an additional 437 shares in the last quarter. Ahrens Investment Partners LLC acquired a new position in APA during the fourth quarter worth about $35,000. Finally, Outfitter Financial LLC acquired a new position in APA during the fourth quarter worth about $48,000. 84.08% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading