APA (NASDAQ:APA) Price Target Raised to $29.00

APA (NASDAQ:APA) had its price target boosted by Mizuho from $24.00 to $29.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an underperform rating on the stock.

A number of other equities research analysts have also recently commented on APA. Raymond James Financial reaffirmed an “outperform” rating and set a $31.00 price objective on shares of APA in a research note on Monday, November 24th. Benchmark raised their target price on APA from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. William Blair started coverage on APA in a research report on Wednesday, November 26th. They set an “outperform” rating and a $32.00 target price for the company. Royal Bank Of Canada upped their price target on APA from $26.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, March 5th. Finally, Susquehanna increased their price target on shares of APA from $32.00 to $37.00 and gave the company a “positive” rating in a research report on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.16.

APA Trading Up 4.0%

APA opened at $38.06 on Tuesday. The firm has a 50 day simple moving average of $28.84 and a 200 day simple moving average of $25.72. APA has a fifty-two week low of $13.58 and a fifty-two week high of $39.03. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 16.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82.

APA (NASDAQ:APA) last released its earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a net margin of 15.55% and a return on equity of 19.89%. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. On average, sell-side analysts anticipate that APA will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s dividend payout ratio (DPR) is currently 25.06%.

Institutional Trading of APA

A number of institutional investors have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators grew its position in APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after purchasing an additional 891 shares in the last quarter. Summit Securities Group LLC lifted its position in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after buying an additional 710 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of APA during the 3rd quarter worth about $34,000. Spire Wealth Management boosted its stake in shares of APA by 179.6% during the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after buying an additional 977 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new position in shares of APA in the 4th quarter valued at about $37,000. Institutional investors own 83.01% of the company’s stock.

About APA

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.