APA (NASDAQ:APA) PT Lowered to $28.00 at Bernstein Bank

APA (NASDAQ:APA) had its price objective cut by Bernstein Bank from $30.00 to $28.00 in a research note released on Friday morning.

Several other research analysts also recently issued reports on the company. Sanford C. Bernstein cut their price objective on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price objective on APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Mizuho cut their price objective on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Evercore ISI cut their price objective on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Finally, Scotiabank cut their price objective on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.18.

APA Price Performance

Shares of NASDAQ:APA opened at $25.16 on Friday. The business’s 50 day simple moving average is $26.43 and its 200-day simple moving average is $29.02. The firm has a market capitalization of $9.34 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 current ratio of 1.01 and a quick ratio of 1.01. APA has a 12 month low of $22.72 and a 12 month high of $43.58.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 EPS. As a group, equities analysts forecast that APA will post 3.97 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 dividend on an annualized basis and a yield of 3.97%. APA’s dividend payout ratio is currently 11.19%.

Institutional Investors Weigh In On APA

A number of hedge funds have recently made changes to their positions in APA. American National Bank increased its stake in shares of APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after acquiring an additional 490 shares during the period. Covestor Ltd increased its stake in shares of APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after acquiring an additional 1,079 shares during the period. Rothschild Investment LLC acquired a new position in shares of APA during the second quarter valued at approximately $42,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares during the period. 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.