APA (NASDAQ:APA) Price Target Raised to $47.00

APA (NASDAQ:APAFree Report) had its price target boosted by Susquehanna from $37.00 to $47.00 in a research note published on Tuesday,MarketScreener reports. The firm currently has a positive rating on the stock.

A number of other brokerages have also recently commented on APA. UBS Group upped their price target on APA from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Capital One Financial reduced their price target on APA from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Roth Mkm upped their price target on APA from $27.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Bank of America upped their price objective on APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a research note on Monday, March 16th. Finally, BMO Capital Markets upped their price objective on APA from $35.00 to $47.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Seven analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, APA presently has an average rating of “Hold” and an average target price of $39.50.

Check Out Our Latest Research Report on APA

APA Stock Performance

Shares of APA opened at $38.66 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $35.67 and a two-hundred day simple moving average of $28.55. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 9.69 and a beta of 0.49. APA has a 52 week low of $15.20 and a 52 week high of $45.66.

APA (NASDAQ:APAGet Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The business’s quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 earnings per share. On average, analysts expect that APA will post 4.28 EPS for the current year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. APA’s dividend 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 transaction of $833,290.00. Following the completion of the transaction, the director directly owned 6,634 shares of the company’s stock, valued at approximately $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock valued at $2,609,000 after buying an additional 375 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of APA by 1.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock valued at $689,000 after purchasing an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of APA by 3.2% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock valued at $358,000 after purchasing an additional 461 shares during the last quarter. Howard Capital Management Inc. lifted its stake in shares of APA by 0.5% in the 3rd quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock valued at $2,303,000 after purchasing an additional 485 shares during the last quarter. Finally, one8zero8 LLC lifted its stake in shares of APA by 1.2% in the 3rd quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock valued at $1,026,000 after purchasing an additional 488 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Key Headlines Impacting APA

Here are the key news stories impacting APA this week:

APA Company Profile

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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.

Further Reading

Analyst Recommendations for APA (NASDAQ:APA)

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