APA (NASDAQ:APA) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of APA (NASDAQ:APAGet Rating) in a research note issued to investors on Tuesday, The Fly reports. The firm issued an overweight rating on the stock.

APA has been the subject of a number of other reports. Truist Financial reduced their price target on shares of APA from $69.00 to $63.00 and set a buy rating for the company in a report on Thursday, January 19th. Piper Sandler increased their price target on shares of APA from $46.00 to $49.00 and gave the company a neutral rating in a report on Thursday, November 17th. Barclays reduced their price target on shares of APA from $55.00 to $48.00 and set an overweight rating for the company in a report on Monday. Bank of America reissued a buy rating and issued a $65.00 price target on shares of APA in a report on Wednesday, November 30th. Finally, Citigroup raised their price objective on shares of APA from $58.00 to $62.00 and gave the stock a buy rating in a report on Monday, November 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, APA has an average rating of Moderate Buy and an average price target of $52.88.

APA Stock Performance

NASDAQ:APA opened at $44.06 on Tuesday. APA has a 1 year low of $29.61 and a 1 year high of $51.95. The firm’s fifty day simple moving average is $45.18 and its 200 day simple moving average is $42.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $14.17 billion, a PE ratio of 4.21, a PEG ratio of 0.17 and a beta of 3.58.

APA (NASDAQ:APAGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.05. APA had a net margin of 33.83% and a return on equity of 325.67%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business posted $0.98 EPS. APA’s revenue was up 40.2% compared to the same quarter last year. On average, sell-side analysts anticipate that APA will post 7.97 EPS for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 22nd. Investors of record on Monday, January 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, January 20th. APA’s dividend payout ratio is currently 9.55%.

Hedge Funds Weigh In On APA

Several institutional investors have recently added to or reduced their stakes in APA. Clear Street Markets LLC increased its position in APA by 375.2% in the 2nd quarter. Clear Street Markets LLC now owns 708 shares of the company’s stock valued at $25,000 after acquiring an additional 559 shares in the last quarter. James Investment Research Inc. increased its position in APA by 205.7% in the 2nd quarter. James Investment Research Inc. now owns 755 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares in the last quarter. Larson Financial Group LLC acquired a new stake in APA in the 2nd quarter valued at about $26,000. Core Alternative Capital increased its position in APA by 657.1% in the 3rd quarter. Core Alternative Capital now owns 795 shares of the company’s stock valued at $27,000 after acquiring an additional 690 shares in the last quarter. Finally, Creative Capital Management Investments LLC acquired a new stake in APA in the 4th quarter valued at about $30,000. 80.79% of the stock is owned by 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.

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