APA (NASDAQ:APA) Price Target Cut to $28.00 by Analysts at Piper Sandler

APA (NASDAQ:APA) had its target price decreased by Piper Sandler from $29.00 to $28.00 in a research report report published on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on the stock. UBS Group dropped their price target on shares of APA from $35.00 to $29.00 and set a neutral rating for the company in a research note on Wednesday, September 18th. Barclays reduced their price target on APA from $35.00 to $30.00 and set an equal weight rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein cut their price objective on APA from $37.00 to $30.00 and set a market perform rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on APA from $36.00 to $27.00 and set a neutral rating on the stock in a report on Thursday, September 12th. Finally, Wells Fargo & Company lowered their price target on shares of APA from $49.00 to $47.00 and set an overweight rating for the company in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $34.86.

APA Stock Performance

NASDAQ:APA opened at $24.85 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $9.22 billion, a PE ratio of 2.78 and a beta of 3.23. APA has a twelve month low of $22.72 and a twelve month high of $43.58. The stock’s 50-day simple moving average is $26.61 and its 200 day simple moving average is $29.24.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. On average, analysts anticipate that APA will post 3.97 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.02%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in APA by 4.7% during 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. Dimensional Fund Advisors LP grew its stake in shares of APA by 131.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of APA by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after purchasing an additional 455,312 shares during the last quarter. LSV Asset Management boosted its position in APA by 4.9% in the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock worth $81,193,000 after purchasing an additional 129,841 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in APA by 1.1% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock valued at $42,730,000 after purchasing an additional 16,287 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.