APA (NASDAQ:APA) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of APA (NASDAQ:APA) from a hold rating to a buy rating in a research note published on Tuesday.

Several other equities research analysts also recently weighed in on APA. Barclays began coverage on shares of APA in a research note on Wednesday, April 10th. They issued an equal weight rating and a $40.00 target price on the stock. The Goldman Sachs Group reduced their target price on shares of APA from $35.00 to $31.00 and set a sell rating on the stock in a research note on Tuesday, March 26th. Roth Mkm increased their target price on shares of APA from $37.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Piper Sandler increased their target price on shares of APA from $33.00 to $35.00 and gave the company a neutral rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $45.00 target price on shares of APA in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $42.25.

APA Stock Up 0.4 %

APA opened at $32.49 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The firm has a 50 day moving average price of $32.55 and a 200-day moving average price of $34.46. APA has a twelve month low of $29.47 and a twelve month high of $46.15. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 3.50 and a beta of 3.27.

APA (NASDAQ:APA) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company posted $1.48 earnings per share. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. Equities research analysts forecast that APA will post 5.03 earnings per share for the current year.

APA Dividend Announcement

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

Hedge Funds Weigh In On APA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Securian Asset Management Inc. raised its position in shares of APA by 10.3% during the 1st quarter. Securian Asset Management Inc. now owns 21,344 shares of the company’s stock valued at $734,000 after acquiring an additional 1,988 shares in the last quarter. UMB Bank n.a. increased its position in APA by 18.1% in the first quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock worth $98,000 after buying an additional 439 shares during the period. Clear Creek Financial Management LLC acquired a new stake in APA in the first quarter worth $363,000. Triton Wealth Management PLLC increased its position in APA by 1.6% in the first quarter. Triton Wealth Management PLLC now owns 28,943 shares of the company’s stock worth $922,000 after buying an additional 449 shares during the period. Finally, New York State Teachers Retirement System increased its position in APA by 6.0% in the first quarter. New York State Teachers Retirement System now owns 346,358 shares of the company’s stock worth $11,908,000 after buying an additional 19,743 shares during the period. Hedge funds and other 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.