APA Corporation (APA) is looking forward to a strong quarter

APA Corporation (NASDAQ: APA) stock jumped 1.31% on Tuesday to $33.91 against a previous-day closing price of $33.47. With 5.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.28 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $34.67 whereas the lowest price it dropped to was $33.47. The 52-week range on APA shows that it touched its highest point at $51.95 and its lowest point at $30.15 during that stretch. It currently has a 1-year price target of $47.50. With its current market cap of 10.25 billion, APA has annualized dividend of $1.00 while the current yield stands at 2.95%. Beta for the stock currently stands at 3.54.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of APA was up-trending over the past week, with a rise of 7.21%, but this was down by -10.41% over a month. Three-month performance dropped to -10.43% while six-month performance fell -26.82%. The stock lost -18.60% in the past year, while it has lost -27.36% so far this year. A look at the trailing 12-month EPS for APA yields 6.18 with Next year EPS estimates of 6.11. For the next quarter, that number is 0.90. This implies an EPS growth rate of 325.20% for this year and 27.52% for next year. EPS is expected to decline by -1.91% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 24.40%.

Float and Shares Shorts:

At present, 311.00 million APA shares are outstanding with a float of 308.44 million shares on hand for trading. On Apr 27, 2023, short shares totaled 10.2 million, which was 3.31% higher than short shares on Mar 30, 2023. In addition to Mr. John J. Christmann IV as the firm’s CEO, Pres & Director, Mr. Stephen J. Riney serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 82.71% of APA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.30% of APA, in contrast to 31.72% held by mutual funds. Shares owned by individuals account for 0.48%. As the largest shareholder in APA with 12.72% of the stake, The Vanguard Group, Inc. holds 39,553,195 shares worth 39,553,195. A second-largest stockholder of APA, SSgA Funds Management, Inc., holds 22,210,316 shares, controlling over 7.14% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in APA, holding 20,454,827 shares or 6.58% stake. With a 3.09% stake in APA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 9,615,813 shares are owned by the mutual fund manager. The SPDR Series – Energy Select Secto, which owns about 2.89% of APA stock, is the second-largest Mutual Fund holder. It holds 8,972,253 shares valued at 330.63 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in APA, owning 8,137,199 shares worth 299.86 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, APA reported revenue of $3.05B and operating income of $1.60B. The EBITDA in the recently reported quarter was $1.88B and diluted EPS was $2.71.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With APA analysts setting a high price target of $69.00 and a low target of $36.00, the average target price over the next 12 months is $47.75. Based on these targets, APA could surge 103.48% to reach the target high and rise by 6.16% to reach the target low. Reaching the average price target will result in a growth of 40.81% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.


Dividends & Yield:

In terms of dividends, APA has a current ratio of $1.0, which is $1.0 over the trailing 12-months, while a dividend of $0.62 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and APA currently yields $2.58. In the past year, APA’s dividend yield has been $2.58, but when looking at the stock over the past five years, its yield has been $2.74. Accordingly, APA has a current buyback yield of $12.46. This was $12.46 for the TTM.

Summary of Insider Activity:

Insiders traded APA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 59 while that of sell transactions has risen to 58 over the past year. The total number of shares bought during that period was 1,070,886 while 923,554 shares were sold.

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