Scotiabank Has Negative Forecast for APA FY2027 Earnings

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

Several other equities analysts also recently commented on APA. Sanford C. Bernstein increased their target price on APA from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, May 11th. Susquehanna boosted their price objective on APA from $37.00 to $47.00 and gave the company a “positive” rating in a report on Tuesday, April 21st. Zacks Research upgraded APA from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Wolfe Research boosted their target price on APA from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, TD Cowen upgraded APA to a “hold” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, APA presently has an average rating of “Hold” and an average price target of $39.92.

APA Price Performance

Shares of APA stock opened at $40.91 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. APA has a twelve month low of $16.15 and a twelve month high of $45.66. The company has a market cap of $14.46 billion, a P/E ratio of 9.54 and a beta of 0.38. The business has a fifty day simple moving average of $38.49 and a 200 day simple moving average of $30.33.

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

Institutional Trading of APA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its stake in APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in APA in the 1st quarter worth $28,000. Deseret Mutual Benefit Administrators increased its holdings in shares of APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares during the last quarter. Summit Securities Group LLC increased its holdings in shares of APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after purchasing an additional 710 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in APA during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Insider Buying and Selling

In other APA news, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the transaction, the director owned 6,634 shares of the company’s stock, valued at $240,349.82. This represents a 77.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

About APA

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.