APA (NASDAQ:APA) PT Raised to $36.00

APA (NASDAQ:APA) had its price objective hoisted by Truist Financial from $34.00 to $36.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on APA. Barclays decreased their target price on shares of APA from $35.00 to $30.00 and set an equal weight rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group dropped their target price on APA from $30.00 to $26.00 and set a sell rating for the company in a report on Monday, October 7th. Sanford C. Bernstein decreased their price target on APA from $37.00 to $30.00 and set a market perform rating on the stock in a report on Wednesday, July 17th. Evercore ISI dropped their price objective on shares of APA from $39.00 to $33.00 and set an in-line rating for the company in a research note on Monday, September 30th. Finally, Wolfe Research began coverage on shares of APA in a research note on Thursday, July 18th. They issued an outperform rating and a $42.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $34.90.

APA Price Performance

NASDAQ:APA opened at $27.07 on Wednesday. The business’s 50-day moving average is $26.67 and its 200 day moving average is $29.39. APA has a 12 month low of $22.72 and a 12 month high of $43.58. The company has a market capitalization of $10.05 billion, a P/E ratio of 3.03 and a beta of 3.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $0.85 EPS. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, equities research analysts forecast that APA will post 3.97 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.69%. APA’s dividend payout ratio is presently 11.19%.

Hedge Funds Weigh In On APA

A number of large investors have recently bought and sold shares of the business. Neuberger Berman Group LLC increased its holdings in shares of APA by 35.9% in the 4th quarter. Neuberger Berman Group LLC now owns 10,083 shares of the company’s stock valued at $362,000 after acquiring an additional 2,666 shares during the period. Washington Trust Bank raised its holdings in APA by 7.7% in the fourth quarter. Washington Trust Bank now owns 8,911 shares of the company’s stock worth $320,000 after purchasing an additional 638 shares in the last quarter. Garner Asset Management Corp bought a new stake in shares of APA in the 4th quarter valued at about $100,000. Cantor Fitzgerald L. P. grew its position in shares of APA by 3.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 16,568 shares of the company’s stock worth $594,000 after buying an additional 553 shares during the last quarter. Finally, Black Maple Capital Management LP grew its position in shares of APA by 315.8% in the 4th quarter. Black Maple Capital Management LP now owns 44,765 shares of the company’s stock worth $1,606,000 after buying an additional 34,000 shares during the last quarter. 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.