APA (NASDAQ:APA) Given New $42.00 Price Target at Piper Sandler

APA (NASDAQ:APA) had its target price cut by Piper Sandler from $48.00 to $42.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently weighed in on APA. Mizuho decreased their price target on APA from $49.00 to $42.00 and set an underperform rating for the company in a report on Friday, November 10th. Jefferies Financial Group increased their price target on APA from $39.00 to $43.00 and gave the stock a hold rating in a report on Monday, August 28th. StockNews.com upgraded APA from a hold rating to a buy rating in a report on Tuesday. Royal Bank of Canada reissued a sector perform rating and set a $50.00 price objective on shares of APA in a research report on Friday, October 6th. Finally, Wells Fargo & Company increased their price objective on shares of APA from $52.00 to $53.00 and gave the stock an overweight rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $46.88.

APA Stock Performance

NASDAQ APA opened at $35.85 on Thursday. The firm’s fifty day moving average price is $40.27 and its two-hundred day moving average price is $38.30. The stock has a market cap of $11.00 billion, a PE ratio of 7.35, a PEG ratio of 6.34 and a beta of 3.50. APA has a fifty-two week low of $30.67 and a fifty-two week high of $48.55. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.06 and a current ratio of 1.06.

APA (NASDAQ:APA) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.25. APA had a net margin of 17.62% and a return on equity of 92.51%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $1.97 earnings per share. APA’s revenue for the quarter was down 20.1% on a year-over-year basis. On average, equities analysts expect that APA will post 4.94 EPS for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a $0.25 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. APA’s dividend payout ratio is 20.49%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in APA by 5.9% in the 1st quarter. CWM LLC now owns 6,144 shares of the company’s stock valued at $222,000 after purchasing an additional 340 shares during the period. Private Advisor Group LLC bought a new position in APA in the 1st quarter valued at $513,000. Avantax Advisory Services Inc. boosted its holdings in APA by 86.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,535 shares of the company’s stock valued at $596,000 after purchasing an additional 7,664 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in APA by 110.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 32,836 shares of the company’s stock valued at $1,184,000 after purchasing an additional 17,241 shares during the period. Finally, Doliver Advisors LP boosted its holdings in APA by 48.9% in the 1st quarter. Doliver Advisors LP now owns 7,307 shares of the company’s stock valued at $263,000 after purchasing an additional 2,400 shares during the period. 80.48% of the stock is currently owned by hedge funds and other institutional investors.

APA Company Profile

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. 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, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.