APA (NASDAQ:APA) Rating Lowered to Inline at Evercore ISI

Evercore ISI lowered shares of APA (NASDAQ:APAFree Report) from an outperform rating to an inline rating in a research report report published on Friday, Marketbeat.com reports. The firm currently has $39.00 price target on the stock, down from their previous price target of $52.00.

Several other brokerages also recently commented on APA. Barclays lowered their price objective on APA from $40.00 to $38.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. Citigroup reduced their target price on APA from $35.00 to $33.00 and set a neutral rating for the company in a report on Friday, May 24th. Morgan Stanley reaffirmed an underweight rating and issued a $28.00 target price on shares of APA in a report on Monday, April 15th. Susquehanna increased their price objective on APA from $54.00 to $57.00 and gave the company a positive rating in a report on Tuesday, May 7th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $45.00 price objective on shares of APA in a report on Monday, April 8th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $40.52.

View Our Latest Report on APA

APA Stock Up 0.4 %

Shares of APA stock opened at $27.94 on Friday. The stock’s 50-day moving average is $30.88 and its 200 day moving average is $32.19. APA has a one year low of $27.36 and a one year high of $46.15. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 3.13 and a beta of 3.25.

APA (NASDAQ:APAGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company posted $1.19 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that APA will post 4.58 EPS for the current year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.58%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Investors Weigh In On APA

A number of institutional investors and hedge funds have recently made changes to their positions in APA. Harris Associates L P raised its position in shares of APA by 17.8% in the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after buying an additional 2,367,570 shares in the last quarter. Vanguard Group Inc. raised its position in shares of APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after buying an additional 1,938,335 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of APA by 130.0% in the third quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company’s stock worth $63,037,000 after buying an additional 867,257 shares in the last quarter. Finally, Webs Creek Capital Management LP purchased a new stake in shares of APA in the first quarter worth $28,593,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Company Profile

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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.

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Analyst Recommendations for APA (NASDAQ:APA)

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