APA (NASDAQ:APA) PT Raised to $35.00

APA (NASDAQ:APA) had its price target raised by Mizuho from $34.00 to $35.00 in a research report released on Tuesday, Benzinga reports. They currently have an underperform rating on the stock.

APA has been the subject of a number of other research reports. Roth Mkm upped their price objective on APA from $37.00 to $39.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. StockNews.com lowered shares of APA from a buy rating to a hold rating in a research report on Friday, May 10th. Barclays reduced their target price on shares of APA from $40.00 to $38.00 and set an equal weight rating on the stock in a report on Thursday, May 2nd. Raymond James lowered their price target on shares of APA from $44.00 to $43.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Finally, Morgan Stanley reissued an underweight rating and set a $28.00 price objective on shares of APA in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $41.90.

APA Stock Performance

Shares of NASDAQ APA opened at $29.36 on Tuesday. APA has a 52-week low of $28.90 and a 52-week high of $46.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average price is $32.38 and its 200-day moving average price is $33.03. The company has a market cap of $10.90 billion, a PE ratio of 3.28 and a beta of 3.29.

APA (NASDAQ:APA) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). APA had a net margin of 34.04% and a return on equity of 45.32%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $1.19 EPS. The company’s revenue was down 2.8% on a year-over-year basis. As a group, analysts anticipate that APA will post 4.63 EPS for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Hedge Funds Weigh In On APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. American National Bank increased its holdings in shares of APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in APA in the third quarter valued at approximately $34,000. Quent Capital LLC increased its holdings in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after buying an additional 375 shares during the period. Rakuten Securities Inc. purchased a new position in APA during the 4th quarter worth approximately $34,000. Finally, Covestor Ltd lifted its stake in APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after acquiring an additional 470 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.