JPMorgan Chase & Co. Lowers APA (NASDAQ:APA) Price Target to $27.00

APA (NASDAQ:APA) had its price target trimmed by JPMorgan Chase & Co. from $36.00 to $27.00 in a research note published on Friday. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Susquehanna dropped their price target on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research report on Friday. Bernstein Bank decreased their price objective on APA from $30.00 to $28.00 in a report on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price objective on shares of APA in a report on Tuesday, September 17th. Evercore ISI decreased their price objective on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Finally, Scotiabank decreased their price objective on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.18.

APA Stock Down 0.2 %

Shares of NASDAQ APA opened at $25.11 on Friday. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 2.81 and a beta of 3.23. The company’s 50-day simple moving average is $26.43 and its 200-day simple moving average is $29.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. APA has a 52-week low of $22.72 and a 52-week high of $41.86.

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

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 3.98%. APA’s dividend payout ratio (DPR) is currently 11.19%.

Institutional Trading of APA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sunpointe LLC grew its position in APA by 2.8% in the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after acquiring an additional 362 shares in the last quarter. GAMMA Investing LLC grew its position in APA by 12.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after acquiring an additional 380 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after acquiring an additional 429 shares in the last quarter. Inspire Investing LLC grew its position in APA by 3.7% in the 1st quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock valued at $445,000 after acquiring an additional 457 shares in the last quarter. Finally, American International Group Inc. grew its position in APA by 0.5% in the 4th quarter. American International Group Inc. now owns 86,458 shares of the company’s stock valued at $3,102,000 after acquiring an additional 461 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other 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.