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 report published on Friday.

Several other brokerages also recently weighed in on APA. Wells Fargo & Company reduced their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Citigroup reduced their target price on shares of APA from $32.00 to $29.00 in a research note on Friday. Scotiabank reduced their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Susquehanna reduced their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday. Finally, UBS Group reduced their target price on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, APA currently has an average rating of “Hold” and a consensus price target of $34.18.

APA Price Performance

APA stock opened at $25.11 on Friday. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 2.81 and a beta of 3.23. The firm’s fifty day moving average is $26.43 and its 200 day 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 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. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. APA’s revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts forecast that APA will post 3.97 EPS 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.98%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American National Bank boosted its holdings in shares of APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after buying an additional 490 shares in the last quarter. Covestor Ltd boosted its holdings in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after buying an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of APA in the 2nd quarter valued at about $42,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after buying an additional 1,590 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

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.