APA Co. (NASDAQ:APA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of APA Co. (NASDAQ:APAGet Rating) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $52.39.

A number of equities analysts recently commented on the company. Morgan Stanley lowered their target price on APA from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Monday, August 29th. Jefferies Financial Group assumed coverage on APA in a report on Wednesday, October 19th. They set a “hold” rating and a $45.00 target price for the company. Raymond James decreased their price objective on APA from $75.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 5th. Susquehanna decreased their price objective on APA from $52.00 to $49.00 and set a “positive” rating for the company in a research note on Friday, August 5th. Finally, Piper Sandler raised their target price on APA from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, November 17th.

APA Stock Performance

NASDAQ APA opened at $46.78 on Friday. The stock has a fifty day simple moving average of $44.29 and a 200-day simple moving average of $39.53. APA has a twelve month low of $22.94 and a twelve month high of $51.95. The stock has a market cap of $15.04 billion, a PE ratio of 4.47, a P/E/G ratio of 0.26 and a beta of 3.70. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.48.

APA (NASDAQ:APAGet Rating) last announced its earnings results on Wednesday, November 2nd. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.05. APA had a return on equity of 325.67% and a net margin of 33.83%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business posted $0.98 EPS. APA’s revenue for the quarter was up 40.2% on a year-over-year basis. Equities analysts anticipate that APA will post 8.1 earnings per share for the current year.

APA announced that its board has authorized a share buyback plan on Wednesday, September 14th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

APA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were paid a $0.25 dividend. The ex-dividend date was Thursday, October 20th. This is an increase from APA’s previous quarterly dividend of $0.13. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. APA’s payout ratio is 9.55%.

Institutional Trading of APA

Institutional investors have recently bought and sold shares of the company. Toroso Investments LLC raised its holdings in shares of APA by 21.8% in the third quarter. Toroso Investments LLC now owns 18,138 shares of the company’s stock worth $620,000 after acquiring an additional 3,245 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of APA by 30.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 16,372 shares of the company’s stock worth $560,000 after acquiring an additional 3,791 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of APA in the third quarter worth $5,824,000. Warther Private Wealth LLC acquired a new position in shares of APA in the third quarter worth $442,000. Finally, Glenmede Trust Co. NA raised its holdings in shares of APA by 66.1% in the third quarter. Glenmede Trust Co. NA now owns 11,216 shares of the company’s stock worth $383,000 after acquiring an additional 4,464 shares during the last quarter. 83.36% of the stock is currently owned by hedge funds and other institutional investors.

About APA

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

Further Reading

Analyst Recommendations for APA (NASDAQ:APA)

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