APA (NASDAQ:APA) Given New $28.00 Price Target at JPMorgan Chase & Co.

APA (NASDAQ:APA) had its target price increased by JPMorgan Chase & Co. from $25.00 to $28.00 in a report published on Tuesday,MarketScreener reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

APA has been the topic of several other reports. Stephens increased their target price on APA from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Wolfe Research upped their price target on APA from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Scotiabank raised their price objective on APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Raymond James Financial boosted their target price on APA from $28.00 to $31.00 in a report on Tuesday, October 28th. Finally, Morgan Stanley cut their price target on shares of APA from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.33.

APA Trading Up 1.0%

Shares of APA stock opened at $24.59 on Tuesday. The firm’s 50-day simple moving average is $23.43 and its 200-day simple moving average is $20.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA has a 1-year low of $13.58 and a 1-year high of $25.83. The firm has a market cap of $8.80 billion, a P/E ratio of 8.22, a PEG ratio of 6.28 and a beta of 1.12.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.74 by $0.19. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. APA’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. As a group, equities analysts forecast that APA will post 4.03 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.1%. APA’s payout ratio is 24.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APA. Monetta Financial Services Inc. acquired a new stake in APA during the 3rd quarter valued at $1,020,000. Cowa LLC purchased a new position in APA in the 3rd quarter valued at about $287,000. Krane Funds Advisors LLC acquired a new stake in shares of APA during the third quarter valued at about $506,000. AXQ Capital LP purchased a new stake in shares of APA during the third quarter worth about $505,000. Finally, Compound Planning Inc. acquired a new position in shares of APA in the third quarter worth about $253,000. 83.01% of the stock is owned by institutional investors and hedge funds.

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.