Scotiabank Comments on APA’s FY2027 Earnings (NASDAQ:APA)

APA Corporation (NASDAQ:APA) – Equities researchers at Scotiabank lowered their FY2027 earnings estimates for shares of APA in a research note issued on Thursday, May 14th. Scotiabank analyst B. Zhang now anticipates that the company will earn $4.80 per share for the year, down from their prior forecast of $4.90. Scotiabank has a “Sector Perform” rating and a $36.00 price objective on the stock. The consensus estimate for APA’s current full-year earnings is $5.20 per share.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of APA from $38.00 to $41.00 in a research note on Friday, May 8th. Wolfe Research upped their target price on shares of APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Bank of America upped their target price on shares of APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a research note on Monday, March 16th. Susquehanna upped their target price on shares of APA from $37.00 to $47.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Finally, Citigroup dropped their target price on shares of APA from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $39.81.

APA Price Performance

Shares of APA stock opened at $38.98 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $13.78 billion, a P/E ratio of 9.09 and a beta of 0.38. The company’s 50-day simple moving average is $38.17 and its two-hundred day simple moving average is $30.08. APA has a one year low of $16.15 and a one year high of $45.66.

Insider Buying and Selling at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director owned 6,634 shares of the company’s stock, valued at approximately $240,349.82. This represents a 77.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On APA

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of APA by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock worth $695,099,000 after purchasing an additional 1,055,016 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of APA by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company’s stock worth $359,807,000 after acquiring an additional 285,542 shares in the last quarter. Morgan Stanley raised its stake in shares of APA by 21.8% during the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after acquiring an additional 1,864,900 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of APA by 76.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock worth $175,426,000 after acquiring an additional 3,117,032 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of APA by 1,726.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after acquiring an additional 4,569,779 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.