APA (NASDAQ:APA) Price Target Lowered to $48.00 at Susquehanna

APA (NASDAQ:APA) had its price target lowered by Susquehanna from $52.00 to $48.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the stock.

APA has been the subject of a number of other reports. Citigroup lowered their price target on shares of APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, September 9th. The Goldman Sachs Group decreased their price objective on shares of APA from $30.00 to $26.00 and set a “sell” rating for the company in a report on Monday, October 7th. Piper Sandler decreased their price objective on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price objective on shares of APA in a report on Tuesday, September 17th. Finally, Mizuho decreased their price objective on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, APA currently has a consensus rating of “Hold” and a consensus target price of $34.18.

APA Price Performance

APA stock opened at $25.16 on Friday. APA has a 52-week low of $22.72 and a 52-week high of $43.58. The firm has a fifty day moving average of $26.43 and a 200-day moving average of $29.11. The firm has a market capitalization of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The business’s revenue was up 41.6% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. As a group, analysts predict that APA will post 3.97 EPS for the current year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Institutional Trading of APA

A number of institutional investors have recently made changes to their positions in APA. Dimensional Fund Advisors LP lifted its stake in shares of APA by 131.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares during the period. Vanguard Group Inc. lifted its stake in shares of APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after acquiring an additional 2,004,555 shares during the period. Webs Creek Capital Management LP acquired a new stake in shares of APA in the 1st quarter worth approximately $28,593,000. AQR Capital Management LLC lifted its stake in shares of APA by 112.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock worth $42,092,000 after acquiring an additional 767,557 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after acquiring an additional 455,312 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Company Profile

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.