APA (NASDAQ:APA) PT Lowered to $48.00

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

Other research analysts also recently issued reports about the stock. Sanford C. Bernstein lowered their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Piper Sandler lowered their price objective on shares of APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday. UBS Group decreased their target price on shares of APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 target price on shares of APA in a research report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $34.18.

APA Stock Up 1.0 %

APA stock opened at $25.16 on Friday. APA has a 52-week low of $22.72 and a 52-week high of $43.58. The company’s 50 day simple moving average is $26.43 and its 200-day simple moving average is $29.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s revenue was up 41.6% compared to the same quarter last year. As a group, equities research analysts anticipate that APA will post 3.97 EPS for the current year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is currently 11.19%.

Hedge Funds Weigh In On APA

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of APA by 18.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after buying an additional 7,580 shares in the last quarter. Ellis Investment Partners LLC acquired a new position in shares of APA in the 2nd quarter valued at $2,499,000. AQR Capital Management LLC raised its stake in shares of APA by 112.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after buying an additional 767,557 shares in the last quarter. Finally, Woodstock Corp raised its stake in shares of APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock valued at $7,540,000 after buying an additional 51,993 shares in the last quarter. 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.