Brokerages Set APA Co. (NASDAQ:APA) Target Price at $42.83

Shares of APA Co. (NASDAQ:APA) have received a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $42.42.

Several research firms have recently issued reports on APA. Roth Mkm upped their price objective on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Scotiabank reaffirmed a “sector perform” rating and set a $37.00 price objective (down from $43.00) on shares of APA in a research report on Tuesday, January 16th. Johnson Rice cut APA from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Friday, January 5th. Mizuho lowered their price objective on APA from $36.00 to $34.00 and set an “underperform” rating for the company in a research report on Friday, March 15th. Finally, Barclays began coverage on APA in a research report on Wednesday. They set an “equal weight” rating and a $40.00 price objective for the company.

APA Price Performance

APA stock opened at $35.05 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $10.58 billion, a PE ratio of 3.78 and a beta of 3.27. APA has a 12-month low of $29.47 and a 12-month high of $46.15. The business’s fifty day moving average price is $32.00 and its 200 day moving average price is $35.03.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. APA had a net margin of 34.95% and a return on equity of 62.64%. APA’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, sell-side analysts anticipate that APA will post 4.46 EPS for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, April 19th. APA’s payout ratio is currently 10.78%.

Institutional Investors Weigh In On APA

Large investors have recently bought and sold shares of the stock. Cetera Advisor Networks LLC acquired a new stake in shares of APA during the first quarter worth $295,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of APA by 3,173.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,088 shares of the company’s stock worth $706,000 after purchasing an additional 16,566 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of APA during the first quarter worth $145,000. Raymond James Trust N.A. acquired a new stake in shares of APA during the first quarter worth $328,000. Finally, Dimensional Fund Advisors LP raised its position in shares of APA by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,836 shares of the company’s stock worth $56,324,000 after buying an additional 29,907 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.