APA (NASDAQ:APA) PT Lowered to $28.00

APA (NASDAQ:APA) had its target price cut by Mizuho from $35.00 to $28.00 in a research report released on Monday morning, Benzinga reports. They currently have an underperform rating on the stock.

Several other equities research analysts have also issued reports on APA. Sanford C. Bernstein reduced their price target on APA from $37.00 to $30.00 and set a market perform rating for the company in a report on Wednesday, July 17th. Barclays restated an equal weight rating and set a $35.00 price target on shares of APA in a report on Wednesday, September 11th. Wolfe Research began coverage on shares of APA in a research report on Thursday, July 18th. They set an outperform rating and a $42.00 target price on the stock. Scotiabank decreased their price target on APA from $37.00 to $30.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. cut their price objective on APA from $36.00 to $27.00 and set a neutral rating on the stock in a research note on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $36.38.

APA Stock Up 1.0 %

Shares of NASDAQ:APA opened at $25.36 on Monday. APA has a 52 week low of $22.72 and a 52 week high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $9.41 billion, a PE ratio of 2.84 and a beta of 3.24. The firm has a 50 day simple moving average of $28.48 and a 200 day simple moving average of $30.16.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, research analysts expect that APA will post 4.34 earnings per share for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is currently 11.19%.

Institutional Investors Weigh In On APA

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after purchasing an additional 1,938,335 shares during the period. Harris Associates L P increased its stake in shares of APA by 17.8% during the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after purchasing an additional 2,367,570 shares during the period. Dimensional Fund Advisors LP lifted its holdings in APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after purchasing an additional 455,312 shares during the period. Institutional investors 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.