What is Scotiabank’s Forecast for APA FY2024 Earnings?

APA Co. (NASDAQ:APA) – Research analysts at Scotiabank increased their FY2024 earnings estimates for APA in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the company will post earnings of $4.10 per share for the year, up from their prior estimate of $3.90. Scotiabank currently has a “Sector Perform” rating and a $27.00 price target on the stock. The consensus estimate for APA’s current full-year earnings is $4.01 per share.

APA has been the subject of a number of other reports. Citigroup lowered their price objective on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Piper Sandler dropped their price objective on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $42.00 to $25.00 in a research report on Tuesday, December 17th. Evercore ISI dropped their target price on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Finally, Barclays cut their price target on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, November 8th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $30.55.

APA Trading Up 0.1 %

APA opened at $23.68 on Friday. The business has a fifty day moving average price of $22.44 and a 200 day moving average price of $25.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA has a 12 month low of $20.32 and a 12 month high of $36.04. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 3.34 and a beta of 3.16.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

Insider Buying and Selling at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, with a total value of $100,026.98. Following the purchase, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of APA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterneck Capital Management LLC lifted its position in APA by 18.1% in the fourth quarter. Sterneck Capital Management LLC now owns 11,250 shares of the company’s stock valued at $260,000 after purchasing an additional 1,725 shares during the period. Nordea Investment Management AB raised its stake in shares of APA by 44.4% during the 4th quarter. Nordea Investment Management AB now owns 54,091 shares of the company’s stock worth $1,257,000 after buying an additional 16,631 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of APA by 55.1% in the 4th quarter. GAMMA Investing LLC now owns 7,881 shares of the company’s stock valued at $182,000 after buying an additional 2,800 shares during the period. Principal Financial Group Inc. boosted its stake in shares of APA by 3.1% in the third quarter. Principal Financial Group Inc. now owns 456,922 shares of the company’s stock valued at $11,176,000 after buying an additional 13,557 shares in the last quarter. Finally, Synovus Financial Corp grew its holdings in APA by 144.3% during the third quarter. Synovus Financial Corp now owns 30,925 shares of the company’s stock worth $756,000 after acquiring an additional 18,268 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.