APA (NASDAQ:APA) Receives “Underweight” Rating from Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of APA (NASDAQ:APA) in a report released on Monday morning, Benzinga reports. They currently have a $28.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of APA from a hold rating to a buy rating in a report on Friday. Piper Sandler lowered their price objective on shares of APA from $36.00 to $33.00 and set a neutral rating for the company in a research note on Thursday, March 7th. Raymond James lowered their price objective on shares of APA from $44.00 to $43.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of APA from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Finally, Roth Mkm upped their price objective on shares of APA from $37.00 to $39.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $41.80.

APA Trading Down 1.7 %

APA stock opened at $33.16 on Monday. The firm’s fifty day simple moving average is $32.21 and its two-hundred day simple moving average is $34.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 3.57 and a beta of 3.27. APA has a twelve month low of $29.47 and a twelve month high of $46.15.

APA (NASDAQ:APA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 earnings per share. As a group, analysts anticipate that APA will post 4.6 earnings per share for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, April 19th. APA’s payout ratio is currently 10.78%.

Hedge Funds Weigh In On APA

Hedge funds and other institutional investors have recently bought and sold shares of the business. American National Bank increased its holdings in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares during the period. Covestor Ltd increased its holdings in APA by 117.8% in the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after buying an additional 437 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in APA in the 3rd quarter worth approximately $34,000. Quent Capital LLC increased its holdings in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after buying an additional 375 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in APA in the 4th quarter worth approximately $34,000. 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.