APA (NASDAQ:APA) Price Target Cut to $25.00

APA (NASDAQ:APA) had its price target trimmed by The Goldman Sachs Group from $26.00 to $25.00 in a research note published on Friday.

Several other research firms have also recently commented on APA. Evercore ISI dropped their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Susquehanna reduced their price objective on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday. Truist Financial lifted their price target on shares of APA from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price target on shares of APA in a research note on Tuesday, September 17th. Finally, Mizuho reduced their price target on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $34.18.

APA Price Performance

Shares of APA stock opened at $25.11 on Friday. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 2.81 and a beta of 3.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average of $26.43 and a 200-day moving average of $29.02. APA has a 52-week low of $22.72 and a 52-week high of $41.86.

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

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.98%. APA’s payout ratio is currently 11.19%.

Hedge Funds Weigh In On APA

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted 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 purchasing an additional 2,004,555 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of APA by 131.7% during the second 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 during the last quarter. Bank of New York Mellon Corp boosted its position in shares of APA by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after acquiring an additional 455,312 shares during the last quarter. LSV Asset Management boosted its position in shares of APA by 4.9% during the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock worth $81,193,000 after acquiring an additional 129,841 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of APA by 1.1% during the second quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock worth $42,730,000 after acquiring an additional 16,287 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Company Profile

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.