APA (NASDAQ:APA) Price Target Raised to $39.00

APA (NASDAQ:APA) had its price target boosted by Truist Financial from $38.00 to $39.00 in a report issued on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group upped their target price on APA from $26.00 to $36.00 and gave the company a “hold” rating in a report on Monday, April 13th. Barclays lifted their price target on APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. Mizuho raised shares of APA to a “strong sell” rating in a research note on Friday, July 31st. Scotiabank increased their price objective on shares of APA from $26.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets dropped their target price on shares of APA from $47.00 to $45.00 and set a “market perform” rating for the company in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.30.

APA Price Performance

Shares of NASDAQ:APA opened at $39.97 on Monday. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of 8.45 and a beta of 0.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day simple moving average is $35.28 and its 200-day simple moving average is $35.06. APA has a 12 month low of $19.96 and a 12 month high of $45.66.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, equities analysts forecast that APA will post 5.16 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 2.5%. APA’s dividend payout ratio (DPR) is presently 21.14%.

Insider Buying and Selling at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the sale, the vice president directly owned 66,810 shares in the company, valued at $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management lifted its holdings in APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of APA during the first quarter worth about $28,000. Summit Securities Group LLC grew its holdings in shares of APA by 115.1% during the fourth 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. MidFirst Bank acquired a new position in shares of APA in the second quarter valued at approximately $33,000. Finally, Compass Financial Management LLC acquired a new position in shares of APA in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.