APA (NASDAQ:APA) Research Coverage Started at Truist Financial

Truist Financial assumed coverage on shares of APA (NASDAQ:APA) in a research note published on Tuesday, Marketbeat.com reports. The firm issued a hold rating and a $38.00 price target on the stock.

APA has been the subject of a number of other research reports. Piper Sandler increased their price objective on shares of APA from $30.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Mizuho upped their price target on APA from $24.00 to $29.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Capital One Financial increased their price target on APA from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. Citigroup lifted their price objective on APA from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Finally, Evercore boosted their price objective on APA from $21.00 to $25.00 in a research note on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.96.

APA Price Performance

APA stock opened at $42.80 on Tuesday. The company has a fifty day simple moving average of $30.33 and a 200-day simple moving average of $26.33. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 10.73 and a beta of 0.67. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. APA has a 52-week low of $13.58 and a 52-week high of $43.22.

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

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s payout ratio is presently 25.06%.

Insider Buying and Selling

In related news, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the transaction, the director directly owned 6,634 shares in the company, valued at approximately $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On APA

Several large investors have recently modified their holdings of APA. Deseret Mutual Benefit Administrators grew its holdings in shares of APA by 276.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares during the period. Summit Securities Group LLC raised its holdings in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after buying an additional 710 shares during the period. Atlantic Union Bankshares Corp acquired a new position in APA in the third quarter valued at about $34,000. Spire Wealth Management boosted its stake in APA by 179.6% during the third 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 period. Finally, Camelot Portfolios LLC purchased a new position in APA during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA News Summary

Here are the key news stories impacting APA this week:

• Positive Sentiment: Capital One raised its price target on APA to $51 and kept an “overweight” rating — the new target implies meaningful upside from recent levels. Capital One adjusts price target on APA to $51 from $32; maintains overweight rating
• Positive Sentiment: Raymond James raised its target to $45 and kept an “outperform” rating, supporting near-term upside momentum. Raymond James adjusts price target on APA to $45 from $31; maintains outperform rating
• Positive Sentiment: Goldman Sachs commentary signaled expectations of a price rise, adding to bullish analyst tone supporting the rally. APA (NASDAQ:APA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says
• Positive Sentiment: Operational news: APA reported a new gas discovery in Egypt that could accelerate production, reduce unit costs and support Egypt’s effort to cut imports — a clear fundamental positive. APA’s New Gas Discovery Strengthens Egypt’s Energy Outlook
• Positive Sentiment: APA hit a new 52-week high after analyst upgrades, reflecting strong market reaction to the above analyst and operational developments. APA (NASDAQ:APA) Sets New 52-Week High After Analyst Upgrade
• Neutral Sentiment: Barclays moved APA to Equal Weight — a mild vote of confidence but less incremental than the price-target raises. Barclays Upgrades APA to Equal Weight
• Neutral Sentiment: Truist initiated coverage with a Hold, which is neutral-to-slightly-cautious relative to the other bullish notes. Truist Financial Initiates Coverage on APA

APA Company Profile

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.