APA (NASDAQ:APA) Price Target Raised to $35.00

APA (NASDAQ:APA) had its price objective increased by Piper Sandler from $33.00 to $35.00 in a research report sent to investors on Friday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other brokerages also recently commented on APA. Johnson Rice downgraded APA from a buy rating to a hold rating and set a $40.00 price objective for the company. in a research report on Friday, January 5th. Royal Bank of Canada reissued a sector perform rating and set a $45.00 price objective on shares of APA in a research report on Monday, April 8th. Raymond James lowered their price objective on APA from $44.00 to $43.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. The Goldman Sachs Group lowered their price objective on APA from $35.00 to $31.00 and set a sell rating for the company in a research report on Tuesday, March 26th. Finally, Barclays began coverage on APA in a research report on Wednesday, April 10th. They set an equal weight rating and a $40.00 price objective for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $42.10.

APA Stock Up 0.3 %

Shares of APA opened at $32.47 on Friday. The stock has a fifty day simple moving average of $32.41 and a two-hundred day simple moving average of $34.57. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $9.78 billion, a PE ratio of 3.50 and a beta of 3.27. APA has a 52-week low of $29.47 and a 52-week high of $46.15.

APA (NASDAQ:APA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 earnings per share. As a group, equities analysts forecast that APA will post 4.85 EPS for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, April 19th. APA’s payout ratio is 10.78%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. American National Bank grew its holdings in APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in APA in the third quarter valued at $34,000. Quent Capital LLC grew its holdings in APA by 64.0% in the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after purchasing an additional 375 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in APA in the fourth quarter valued at $34,000. Finally, Principal Securities Inc. acquired a new stake in APA in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.