APA (NASDAQ:APA) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of APA (NASDAQ:APA) from a hold rating to a buy rating in a research report report published on Tuesday.

Other analysts have also recently issued reports about the stock. Susquehanna raised their price target on shares of APA from $50.00 to $54.00 and gave the company a positive rating in a report on Monday. Scotiabank reiterated a sector perform rating and issued a $37.00 target price (down from $43.00) on shares of APA in a research note on Tuesday, January 16th. Raymond James lowered their target price 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. lifted their target price 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, Piper Sandler lifted their target price on shares of APA from $33.00 to $35.00 and gave the stock a neutral rating in a research note on Friday, April 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $42.10.

APA Stock Down 1.3 %

NASDAQ:APA opened at $32.06 on Tuesday. APA has a fifty-two week low of $29.47 and a fifty-two week high of $46.15. The stock has a market capitalization of $9.65 billion, a P/E ratio of 3.45 and a beta of 3.27. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day simple moving average is $32.46 and its 200-day simple moving average is $34.53.

APA (NASDAQ:APA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. On average, equities analysts anticipate that APA will post 4.85 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, April 19th. APA’s dividend payout ratio (DPR) is 10.78%.

Hedge Funds Weigh In On APA

Several institutional investors have recently made changes to their positions in the company. Graham Capital Wealth Management LLC purchased a new position in shares of APA during the 1st quarter valued at approximately $860,000. Raymond James Financial Services Advisors Inc. increased its holdings in APA by 14.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 253,839 shares of the company’s stock worth $8,727,000 after acquiring an additional 31,629 shares in the last quarter. Byrne Asset Management LLC increased its holdings in APA by 160.6% in the 1st quarter. Byrne Asset Management LLC now owns 2,570 shares of the company’s stock worth $88,000 after acquiring an additional 1,584 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in APA by 20.4% in the 1st quarter. Maryland State Retirement & Pension System now owns 28,522 shares of the company’s stock worth $920,000 after acquiring an additional 4,839 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in APA in the 1st quarter worth $355,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

About APA

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.