Mizuho Cuts APA (NASDAQ:APA) Price Target to $32.00

APA (NASDAQ:APA) had its price objective lowered by Mizuho from $34.00 to $32.00 in a research report released on Thursday, Benzinga reports. Mizuho currently has an underperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley restated an underweight rating and issued a $28.00 target price on shares of APA in a report on Monday, April 15th. 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 report on Wednesday, January 24th. Piper Sandler lifted their price objective on shares of APA from $33.00 to $35.00 and gave the company a neutral rating in a report on Friday, April 19th. Royal Bank of Canada reiterated a sector perform rating and set a $45.00 price objective on shares of APA in a report on Monday, April 8th. Finally, Johnson Rice lowered shares of APA from a buy rating to a hold rating and set a $40.00 price objective for the company. in a report on Friday, January 5th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $42.05.

APA Price Performance

APA stock opened at $29.26 on Thursday. APA has a 52 week low of $28.90 and a 52 week high of $46.15. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $32.52 and a two-hundred day simple moving average of $34.13. The firm has a market capitalization of $8.81 billion, a P/E ratio of 3.27 and a beta of 3.29.

APA (NASDAQ:APA) last released its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. APA’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. Analysts anticipate that APA will post 5.03 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, April 19th. APA’s dividend payout ratio (DPR) is 11.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. American National Bank grew its position in shares of 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 last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of APA in the 3rd quarter worth approximately $34,000. Rakuten Securities Inc. purchased a new position in shares of APA in the 4th quarter worth approximately $34,000. Quent Capital LLC grew its position in shares of 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 last quarter. Finally, Principal Securities Inc. purchased a new position in shares of APA in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.