Analysts Set APA Co. (NASDAQ:APA) PT at $40.52

APA Co. (NASDAQ:APA) has been assigned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $40.52.

APA has been the subject of several research analyst reports. Citigroup dropped their price target on shares of APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Evercore ISI lowered APA from an “outperform” rating to an “inline” rating and cut their target price for the stock from $52.00 to $39.00 in a research report on Friday, June 14th. The Goldman Sachs Group lowered their price target on APA from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. Piper Sandler cut their price objective on APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. Finally, Mizuho lifted their price objective on APA from $34.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, May 21st.

Institutional Trading of APA

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in shares of APA by 257.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,665 shares of the company’s stock worth $84,000 after purchasing an additional 1,920 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in APA by 0.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 808,746 shares of the company’s stock valued at $27,804,000 after buying an additional 4,509 shares in the last quarter. Atria Investments Inc lifted its holdings in APA by 20.3% during the 1st quarter. Atria Investments Inc now owns 41,684 shares of the company’s stock worth $1,433,000 after buying an additional 7,032 shares during the last quarter. LRI Investments LLC acquired a new position in shares of APA in the 1st quarter worth approximately $59,000. Finally, Webs Creek Capital Management LP acquired a new position in shares of APA in the 1st quarter worth approximately $28,593,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $29.34 on Friday. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 3.28, a price-to-earnings-growth ratio of 0.33 and a beta of 3.24. The stock’s fifty day simple moving average is $30.15 and its 200-day simple moving average is $31.90. APA has a 52-week low of $27.17 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.

APA (NASDAQ:APA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS. Equities research analysts expect that APA will post 4.62 EPS for the current year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a $0.25 dividend. 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 payout ratio is 11.19%.

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.