APA (NASDAQ:APA) Price Target Raised to $35.00

APA (NASDAQ:APA) had its price target hoisted by Piper Sandler from $33.00 to $35.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group decreased their target price on APA from $35.00 to $31.00 and set a sell rating for the company in a research report on Tuesday, March 26th. Mizuho decreased their target price on APA from $36.00 to $34.00 and set an underperform rating for the company in a research report on Friday, March 15th. Scotiabank reiterated a sector perform rating and issued a $37.00 target price (down previously from $43.00) on shares of APA in a research report on Tuesday, January 16th. Truist Financial decreased their target price on APA from $59.00 to $53.00 and set a buy rating for the company in a research report on Friday, April 5th. Finally, Raymond James decreased their target price on APA from $44.00 to $43.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $42.10.

APA Price Performance

APA stock opened at $32.47 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. APA has a 52-week low of $29.47 and a 52-week high of $46.15. The stock’s 50 day moving average is $32.41 and its two-hundred day moving average is $34.57. The company has a market capitalization of $9.78 billion, a PE ratio of 3.50 and a beta of 3.27.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a return on equity of 62.64% and a net margin of 34.95%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. APA’s revenue for the quarter was down 12.3% compared to the same quarter last year. Analysts predict that APA will post 4.85 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, April 19th. APA’s payout ratio is currently 10.78%.

Institutional Trading of APA

Hedge funds have recently added to or reduced their stakes in the business. American National Bank raised its stake 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 acquiring an additional 490 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in APA during the 3rd quarter valued at $34,000. Quent Capital LLC raised its stake in APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after acquiring an additional 375 shares in the last quarter. Rakuten Securities Inc. bought a new stake in APA during the 4th quarter valued at $34,000. Finally, Principal Securities Inc. bought a new stake in APA during the 4th quarter valued at $39,000. 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.