APA Corporation (NASDAQ:APA) price on Wednesday, March 27, rose 2.52% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $33.71.
A look at the stock’s price movement, the close in the last trading session was $32.88. The beta value (5-Year monthly) was 3.27 while the PE ratio in trailing twelve months stood at 3.63. Turning to its 52-week performance, $46.15 and $29.47 were the 52-week high and 52-week low respectively. Overall, APA moved 11.62% over the past month.
APA Corporation’s market cap currently stands at around $10.17 billion, with investors looking forward to this quarter’s earnings report slated for May 01, 2024 – May 06, 2024. The company has a Forward Dividend ratio of 1.00, with its dividend yield at 2.97%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.74, which has seen fiscal year 2024 EPS growth forecast to increase to $3.99 and about $5.04 for fiscal year 2025. Per the data, EPS growth is expected to be -11.90% for 2024 and 26.30% for the next financial year.
Analysts have a consensus estimate of $1.82 billion for the company’s revenue for the quarter, with a low and high estimate of $1.74 billion and $2 billion respectively. The average forecast suggests up to a 1.40% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2024 to grow to $8.82 billion, representing a 20.90% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that APA is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
APA’s current price about 5.94% and 8.06% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.66, while 7-day volatility ratio is 3.39% and 2.73% in the 30-day chart. Further, APA Corporation (APA) has a beta value of 3.27, and an average true range (ATR) of 0.98.
If we refocus on APA Corporation (NASDAQ:APA), historical trading data shows that trading volumes averaged 9.12 million over the past 10 days and 6.46 million over the past 3 months. The company’s latest data on shares outstanding shows there are 303.58 million shares.
The 0.53% of APA Corporation’s shares are in the hands of company insiders while institutional holders own 84.11% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 19.49 million on Feb 29, 2024, giving us a short ratio of 3.08. The data shows that as of Feb 29, 2024 short interest in APA Corporation (APA) stood at 6.46% of shares outstanding, with shares short rising to 16.43 million registered in Jan 31, 2024. Current price change has pushed the stock -6.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the APA stock continues to rise going into the next quarter.
