APA (NASDAQ:APA) Cut to Underperform at Mizuho

Mizuho cut shares of APA (NASDAQ:APAGet Rating) from a buy rating to an underperform rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $48.00 price target on the stock, down from their prior price target of $52.00.

Several other analysts also recently issued reports on APA. Piper Sandler upped their price objective on APA from $46.00 to $49.00 and gave the company a neutral rating in a research report on Thursday, November 17th. StockNews.com downgraded APA from a strong-buy rating to a buy rating in a research report on Wednesday, October 5th. Citigroup upped their price objective on APA from $58.00 to $62.00 and gave the company a buy rating in a research report on Monday, November 14th. The Goldman Sachs Group upped their price objective on APA from $38.00 to $46.00 and gave the company a neutral rating in a research report on Wednesday, October 19th. Finally, Jefferies Financial Group assumed coverage on APA in a research report on Wednesday, October 19th. They issued a hold rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $53.59.

APA Stock Down 0.3 %

APA opened at $43.24 on Tuesday. The business’s fifty day moving average is $45.74 and its two-hundred day moving average is $41.91. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 4.13, a PEG ratio of 0.21 and a beta of 3.58. APA has a one year low of $27.98 and a one year high of $51.95.

APA (NASDAQ:APAGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.05. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.35 billion. APA had a return on equity of 325.67% and a net margin of 33.83%. APA’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Analysts anticipate that APA will post 8.19 EPS for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 22nd. Shareholders of record on Monday, January 23rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 20th. This represents a $1.00 annualized dividend and a yield of 2.31%. APA’s dividend payout ratio is presently 9.55%.

APA announced that its Board of Directors has approved a stock buyback program on Wednesday, September 14th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On APA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. O Keefe Stevens Advisory Inc. grew its stake in shares of APA by 1.5% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 34,654 shares of the company’s stock valued at $1,618,000 after buying an additional 522 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of APA in the fourth quarter valued at about $56,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of APA in the fourth quarter valued at about $5,958,000. Coldstream Capital Management Inc. acquired a new stake in shares of APA in the fourth quarter valued at about $422,000. Finally, Bank of New Hampshire grew its stake in shares of APA by 53.9% in the fourth quarter. Bank of New Hampshire now owns 23,935 shares of the company’s stock valued at $1,117,000 after buying an additional 8,380 shares in the last quarter. 80.79% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

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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.

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Analyst Recommendations for APA (NASDAQ:APA)

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