APA (NASDAQ:APA) Price Target Cut to $48.00

APA (NASDAQ:APA – Get Rating) had its price target lowered by Barclays from $55.00 to $48.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Raymond James lowered their price target on shares of APA from $75.00 to $70.00 and set a strong-buy rating on the stock in a research report on Wednesday, October 5th. StockNews.com lowered shares of APA from a strong-buy rating to a buy rating in a research report on Wednesday, October 5th. Mizuho lowered shares of APA from a buy rating to an underperform rating and lowered their price target for the stock from $52.00 to $48.00 in a research report on Tuesday, January 10th. Jefferies Financial Group assumed coverage on shares of APA in a research report on Wednesday, October 19th. They set a hold rating and a $45.00 price target on the stock. Finally, Truist Financial reduced their price objective on shares of APA from $69.00 to $63.00 and set a buy rating on the stock in a research note on Thursday, January 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, APA has an average rating of Moderate Buy and an average price target of $53.38.

APA Price Performance

Shares of APA opened at $45.36 on Monday. The firm has a market capitalization of $14.58 billion, a PE ratio of 4.33, a PEG ratio of 0.17 and a beta of 3.58. The company’s 50-day moving average is $45.28 and its 200-day moving average is $42.26. APA has a fifty-two week low of $27.98 and a fifty-two week high of $51.95. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.05 and a quick ratio of 1.05.

APA (NASDAQ:APA – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.05. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.35 billion. APA had a net margin of 33.83% and a return on equity of 325.67%. The company’s revenue was up 40.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. Equities analysts forecast that APA will post 7.97 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 22nd. Stockholders of record on Monday, January 23rd will be paid a $0.25 dividend. The ex-dividend date is Friday, January 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.20%. APA’s payout ratio is currently 9.55%.

Institutional Investors Weigh In On APA

A number of hedge funds have recently made changes to their positions in APA. CAPROCK Group Inc. bought a new position in APA in the 4th quarter valued at approximately $218,000. Verdence Capital Advisors LLC raised its holdings in APA by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 18,708 shares of the company’s stock valued at $873,000 after buying an additional 224 shares during the last quarter. DAVENPORT & Co LLC bought a new position in APA in the 4th quarter valued at approximately $321,000. Wealth Management Partners LLC bought a new position in APA in the 4th quarter valued at approximately $226,000. Finally, Arden Trust Co bought a new position in APA in the 4th quarter valued at approximately $300,000. 80.79% of the stock is currently owned by institutional investors and hedge funds.

About APA

(Get Rating)

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.