APA (NASDAQ:APA) PT Lowered to $47.00

APA (NASDAQ:APA) had its target price cut by Wells Fargo & Company from $49.00 to $47.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Citigroup cut their price target on shares of APA from $33.00 to $32.00 and set a neutral rating on the stock in a report on Monday, September 9th. Royal Bank of Canada reissued a sector perform rating and issued a $41.00 target price on shares of APA in a report on Tuesday, September 17th. Truist Financial decreased their price target on APA from $46.00 to $34.00 and set a buy rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein dropped their price objective on APA from $37.00 to $30.00 and set a market perform rating on the stock in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of APA from $36.00 to $27.00 and set a neutral rating on the stock in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, APA currently has an average rating of Hold and an average target price of $35.19.

APA Stock Up 1.4 %

Shares of NASDAQ:APA opened at $26.89 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $27.14 and a two-hundred day simple moving average of $29.70. APA has a 12-month low of $22.72 and a 12-month high of $43.58. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 3.01 and a beta of 3.24.

APA (NASDAQ:APA) last posted its quarterly 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 firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. APA’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, research analysts anticipate that APA will post 4.04 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Hedge Funds Weigh In On APA

Hedge funds and other institutional investors have recently modified their holdings of the stock. American National Bank grew its holdings in APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after buying an additional 490 shares in the last quarter. Covestor Ltd grew its holdings in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the last quarter. Rothschild Investment LLC purchased a new stake in APA during the second quarter valued at $42,000. Finally, GPS Wealth Strategies Group LLC lifted its position in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after purchasing an additional 1,590 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

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.