Capital One Financial has raised its Q3 2024 earnings estimate for APA Co. (NASDAQ:APA) from $0.70 to $0.95 per share. The full-year estimate is $3.97 per share. They also forecast Q4 2024 earnings at $0.80 and FY2024 earnings at $3.71.
In its last quarterly results on July 31, APA reported $1.17 EPS, surpassing the estimate of $0.95, with a revenue of $2.54 billion. This represents a 41.6% year-over-year increase.
Recent analyst reports show varied ratings for APA. UBS lowered its price target from $35.00 to $29.00, while Royal Bank of Canada maintained a target of $41.00. Overall, the consensus rating for APA is “Hold” with an average target price of $34.86.
APA Stock Update
As of Thursday, shares of APA opened at $24.92. The company has a market cap of $9.25 billion and a P/E ratio of 2.79. The stock’s 52-week range is $22.72 to $43.58.
Hedge Fund Activity
Vanguard and other institutional investors have increased their stakes in APA, with Vanguard now owning approximately $1.54 billion in shares. Institutional ownership is at 83.01%.
Dividend Information
APA announced a quarterly dividend of $0.25, payable on November 22, with a yield of 4.01%. The ex-dividend date is October 22.
Company Overview
APA Corporation, based in the U.S., engages in exploring and producing oil and gas, with operations also in Egypt and the North Sea.
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