Mizuho Cuts APA (NASDAQ:APA) Price Target to $28.00

APA (NASDAQ:APA) had its price objective lowered by Mizuho from $35.00 to $28.00 in a research report released on Monday, Benzinga reports. The firm currently has an underperform rating on the stock.

A number of other research analysts have also recently issued reports on APA. Sanford C. Bernstein decreased their price objective on shares of APA from $37.00 to $30.00 and set a market perform rating for the company in a report on Wednesday, July 17th. Barclays reissued an equal weight rating and issued a $35.00 price target on shares of APA in a report on Wednesday, September 11th. JPMorgan Chase & Co. dropped their price objective on APA from $36.00 to $27.00 and set a neutral rating on the stock in a research note on Thursday, September 12th. Evercore ISI reissued an in-line rating and issued a $39.00 target price on shares of APA in a research note on Thursday, September 12th. Finally, Citigroup dropped their price target on APA from $33.00 to $32.00 and set a neutral rating on the stock in a research report on Monday, September 9th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $36.38.

APA Stock Performance

Shares of APA stock opened at $25.11 on Monday. The firm has a fifty day moving average of $28.55 and a two-hundred day moving average of $30.19. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 2.81 and a beta of 3.24. APA has a 52 week low of $22.72 and a 52 week high of $43.58.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, equities research analysts predict that APA will post 4.34 EPS for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 dividend yield of 3.98%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is currently 11.19%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. American National Bank boosted its position in APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Principal Securities Inc. bought a new position in APA in the 4th quarter valued at about $39,000. Covestor Ltd lifted its position in APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of APA in the second quarter valued at approximately $42,000. Institutional investors own 83.01% of the company’s stock.

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.