APA Corporation Estimates Lowered on Pricing and Supplemental Update
<p><a href='https://financialmodelingprep.com/financial-summary/APA'>APA Corporation (NASDAQ:APA)</a> released its pre-earnings pricing and supplemental update which resulted in RBC Capital lowering its Q3/22 EPS/CFPS estimates, in large part due to final Q2/22 oil prices that were below their forecast. </p>
<p>The analyst’s Q3/22 EPS/CFPS estimates declined by $0.73/$0.57 to $1.67/ $3.64, with lower commodity prices and weaker international volumes being the main drivers for revisions. </p>
<p>Their estimates also reflect final Q3/22 benchmark commodity prices and model changes related to the recently announced increased dividend and buyback authorization. The analysts reiterated their Sector Perform rating and a $50 price target on the company’s shares.</p>

NASDAQ:APA