Truist Financial Raises APA (NASDAQ:APA) Price Target to $36.00

APA (NASDAQ:APA) had its target price hoisted by Truist Financial from $34.00 to $36.00 in a report issued on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Wolfe Research began coverage on APA in a report on Thursday, July 18th. They issued an outperform rating and a $42.00 price target for the company. 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 note on Wednesday, September 18th. Citigroup dropped their price target on shares of APA from $33.00 to $32.00 and set a neutral rating on the stock in a research note on Monday, September 9th. Wells Fargo & Company decreased their price objective on shares of APA from $49.00 to $47.00 and set an overweight rating for the company in a research report on Tuesday, October 1st. Finally, Barclays dropped their target price on APA from $35.00 to $30.00 and set an equal weight rating on the stock in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $34.90.

APA Price Performance

APA stock opened at $27.07 on Wednesday. The firm has a fifty day moving average of $26.67 and a 200-day moving average of $29.41. APA has a 52-week low of $22.72 and a 52-week high of $43.58. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $10.01 billion, a P/E ratio of 2.95 and a beta of 3.23.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. As a group, analysts predict that APA will post 3.97 EPS for the current year.

APA Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 3.69%. APA’s dividend payout ratio (DPR) is 10.91%.

Hedge Funds Weigh In On APA

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings 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 worth $1,535,001,000 after acquiring an additional 2,004,555 shares during the period. Wealthquest Corp increased its stake in shares of APA by 21.7% in the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after purchasing an additional 27,513 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of APA by 18.5% during the first 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 during the last quarter. Ellis Investment Partners LLC acquired a new position in shares of APA during the second quarter worth approximately $2,499,000. Finally, AQR Capital Management LLC grew its holdings in APA by 112.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock worth $42,092,000 after buying an additional 767,557 shares in the last quarter. 83.01% of the stock is 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.