APA (NASDAQ:APA) Given New $39.00 Price Target at Wolfe Research

APA (NASDAQ:APAFree Report) had its price objective lifted by Wolfe Research from $36.00 to $39.00 in a report published on Thursday,MarketScreener reports. Wolfe Research currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of APA in a research report on Monday, December 29th. Sanford C. Bernstein reduced their price objective on APA from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, January 5th. Johnson Rice raised shares of APA from a “hold” rating to an “accumulate” rating and raised their price objective for the stock from $35.00 to $40.00 in a research note on Thursday, December 4th. Zacks Research downgraded APA from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Evercore lifted their price objective on APA from $21.00 to $25.00 in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.39.

Get Our Latest Analysis on APA

APA Stock Performance

Shares of NASDAQ APA traded up $0.22 during midday trading on Thursday, reaching $29.32. The company’s stock had a trading volume of 669,398 shares, compared to its average volume of 6,483,347. APA has a 12-month low of $13.58 and a 12-month high of $30.10. The stock has a market capitalization of $10.40 billion, a P/E ratio of 7.41, a PEG ratio of 12.72 and a beta of 0.74. The firm has a 50 day moving average price of $26.15 and a 200-day moving average price of $24.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78.

APA (NASDAQ:APAGet Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. APA had a return on equity of 20.08% and a net margin of 15.55%.The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was down 26.6% on a year-over-year basis. As a group, equities analysts predict that APA will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. APA’s dividend payout ratio (DPR) is presently 25.06%.

Hedge Funds Weigh In On APA

Several institutional investors have recently modified their holdings of APA. DGS Capital Management LLC purchased a new position in APA in the fourth quarter valued at $244,000. Compound Planning Inc. lifted its stake in APA by 45.5% in the fourth quarter. Compound Planning Inc. now owns 15,173 shares of the company’s stock valued at $371,000 after buying an additional 4,744 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of APA by 212.2% during the fourth quarter. Corient Private Wealth LLC now owns 416,796 shares of the company’s stock worth $10,195,000 after buying an additional 283,299 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of APA by 13.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 102,471 shares of the company’s stock worth $2,506,000 after purchasing an additional 12,211 shares during the last quarter. Finally, Vident Advisory LLC grew its position in APA by 12.2% in the 4th quarter. Vident Advisory LLC now owns 144,112 shares of the company’s stock valued at $3,525,000 after buying an additional 15,657 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Key APA News

Here are the key news stories impacting APA this week:

APA Company Profile

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APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

Further Reading

Analyst Recommendations for APA (NASDAQ:APA)

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