APA Co. (NASDAQ:APA) Receives Consensus Recommendation of “Hold” from Brokerages

APA Co. (NASDAQ:APA) has earned an average rating of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.27.

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their target price on APA from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America restated an “underperform” rating and issued a $31.00 price target on shares of APA in a report on Friday, June 14th. Truist Financial upped their price target on APA from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Citigroup lowered their price target on APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Finally, UBS Group lowered their price target on APA from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th.

APA Stock Performance

NASDAQ APA opened at $29.48 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.16 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $29.48 and its two-hundred day moving average is $30.80. APA has a 12-month low of $26.81 and a 12-month high of $46.15. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 3.30 and a beta of 3.26.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 41.6% on a year-over-year basis. Research analysts expect that APA will post 4.17 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.39%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Hedge Funds Weigh In On APA

Several hedge funds and other institutional investors have recently modified their holdings of APA. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in APA by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock worth $898,000 after purchasing an additional 358 shares during the period. Sunpointe LLC lifted its stake in shares of APA by 2.8% during the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after purchasing an additional 362 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of APA by 12.0% in the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after buying an additional 380 shares during the period. SVB Wealth LLC grew its stake in shares of APA by 7.0% in the fourth quarter. SVB Wealth LLC now owns 5,868 shares of the company’s stock valued at $211,000 after buying an additional 386 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of APA by 6.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after buying an additional 429 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.