APA (NASDAQ:APA) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of APA (NASDAQ:APA) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other analysts have also weighed in on APA. Piper Sandler increased their target price on shares of APA from $33.00 to $35.00 and gave the stock a neutral rating in a report on Friday, April 19th. JPMorgan Chase & Co. increased their target price on shares of APA from $38.00 to $40.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Truist Financial lowered their price objective on shares of APA from $59.00 to $53.00 and set a buy rating for the company in a report on Friday, April 5th. Morgan Stanley restated an underweight rating and issued a $28.00 price objective on shares of APA in a report on Monday, April 15th. Finally, The Goldman Sachs Group lowered their price objective on shares of APA from $35.00 to $31.00 and set a sell rating for the company in a report on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $42.25.

APA Stock Up 0.4 %

Shares of NASDAQ:APA opened at $32.49 on Tuesday. The stock’s 50-day moving average price is $32.55 and its 200-day moving average price is $34.46. APA has a 12-month low of $29.47 and a 12-month high of $46.15. The stock has a market capitalization of $9.78 billion, a P/E ratio of 3.50 and a beta of 3.27. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41.

APA (NASDAQ:APA) last announced 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). APA had a net margin of 34.95% and a return on equity of 62.64%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $1.48 earnings per share. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. On average, equities analysts anticipate that APA will post 5.03 earnings per share for the current year.

APA Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC increased its stake in shares of APA by 1.2% in the third quarter. Lido Advisors LLC now owns 21,901 shares of the company’s stock worth $900,000 after acquiring an additional 266 shares during the period. DNB Asset Management AS increased its stake in shares of APA by 0.6% in the fourth quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock worth $1,788,000 after acquiring an additional 308 shares during the period. HB Wealth Management LLC grew its position in APA by 5.0% during the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock valued at $234,000 after buying an additional 309 shares during the period. NovaPoint Capital LLC grew its position in APA by 5.8% during the third quarter. NovaPoint Capital LLC now owns 6,231 shares of the company’s stock valued at $256,000 after buying an additional 342 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in APA by 1.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock valued at $898,000 after buying an additional 358 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.