APA (NASDAQ:APA) Price Target Cut to $43.00

APA (NASDAQ:APA) had its price objective cut by Benchmark from $46.00 to $43.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on the stock. UBS Group cut their price target on shares of APA from $53.00 to $48.00 and set a neutral rating on the stock in a report on Thursday, November 9th. Raymond James cut their price target on shares of APA from $53.00 to $51.00 and set a strong-buy rating on the stock in a report on Monday, July 24th. StockNews.com initiated coverage on shares of APA in a research note on Thursday, October 5th. They set a hold rating on the stock. Morgan Stanley lifted their price target on shares of APA from $37.00 to $38.00 and gave the company an equal weight rating in a research note on Friday, August 18th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $50.00 price target on shares of APA in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $46.88.

APA Trading Down 3.9 %

APA stock opened at $35.85 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.65. APA has a twelve month low of $30.67 and a twelve month high of $48.55. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 6.23 and a beta of 3.50. The firm’s fifty day simple moving average is $40.27 and its two-hundred day simple moving average is $38.30.

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

APA Announces Dividend

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

Institutional Trading of APA

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised 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 buying an additional 340 shares during the period. Private Advisor Group LLC purchased a new stake in APA during the first quarter worth about $513,000. Avantax Advisory Services Inc. increased its stake in APA by 86.4% during the first quarter. Avantax Advisory Services Inc. now owns 16,535 shares of the company’s stock worth $596,000 after purchasing an additional 7,664 shares during the period. Oppenheimer & Co. Inc. increased its stake in APA by 110.6% during the first quarter. Oppenheimer & Co. Inc. now owns 32,836 shares of the company’s stock worth $1,184,000 after purchasing an additional 17,241 shares during the period. Finally, Doliver Advisors LP increased its stake in APA by 48.9% during the first quarter. Doliver Advisors LP now owns 7,307 shares of the company’s stock worth $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.