Susquehanna Cuts APA (NASDAQ:APA) Price Target to $48.00

APA (NASDAQ:APA) had its price target cut by Susquehanna from $52.00 to $48.00 in a research report released on Friday, Benzinga reports. They currently have a positive rating on the stock.

A number of other equities research analysts also recently commented on the stock. Sanford C. Bernstein cut their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Citigroup cut their target price on shares of APA from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Wolfe Research started coverage on shares of APA in a research report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price for the company. Wells Fargo & Company cut their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group cut their target price on shares of APA from $30.00 to $26.00 and set a “sell” rating for the company in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.18.

APA Price Performance

Shares of NASDAQ APA opened at $25.16 on Friday. APA has a twelve month low of $22.72 and a twelve month high of $43.58. The firm has a market cap of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23. The company has a 50 day moving average of $26.43 and a 200 day moving average of $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 (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, research analysts expect that APA will post 3.97 EPS for the current fiscal year.

APA Dividend Announcement

The business 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.97%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is currently 11.19%.

Institutional Trading of APA

Several hedge funds have recently bought and sold shares of APA. OLD National Bancorp IN raised its position in shares of APA by 64.6% during the 3rd quarter. OLD National Bancorp IN now owns 210,230 shares of the company’s stock valued at $5,142,000 after buying an additional 82,545 shares in the last quarter. Resonant Capital Advisors LLC raised its position in shares of APA by 32.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 12,114 shares of the company’s stock valued at $296,000 after buying an additional 2,964 shares in the last quarter. Blue Trust Inc. raised its position in shares of APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,604 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in APA by 32.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 10,173 shares of the company’s stock valued at $249,000 after purchasing an additional 2,470 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in APA by 2.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,644 shares of the company’s stock valued at $847,000 after purchasing an additional 952 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.