APA (NASDAQ:APA) Given New $33.00 Price Target at Citigroup

APA (NASDAQ:APA) had its target price decreased by Citigroup from $35.00 to $33.00 in a research report sent to investors on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms have also recently commented on APA. Royal Bank of Canada reiterated a sector perform rating and set a $45.00 target price on shares of APA in a research note on Monday, April 8th. StockNews.com lowered shares of APA from a buy rating to a hold rating in a report on Friday, May 10th. The Goldman Sachs Group lowered their price target on shares of APA from $35.00 to $31.00 and set a sell rating for the company in a report on Tuesday, March 26th. Mizuho boosted their price objective on shares of APA from $34.00 to $35.00 and gave the company an underperform rating in a research report on Tuesday. Finally, Piper Sandler dropped their target price on shares of APA from $35.00 to $33.00 and set a neutral rating for the company in a research report on Tuesday, May 14th. Three equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $41.90.

APA Price Performance

Shares of APA opened at $29.36 on Friday. The business has a 50-day simple moving average of $32.38 and a two-hundred day simple moving average of $33.03. APA has a 12-month low of $28.90 and a 12-month high of $46.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a market cap of $10.90 billion, a PE ratio of 3.28 and a beta of 3.29.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. APA’s revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that APA will post 4.63 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.41%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio is currently 11.19%.

Institutional Trading of APA

Several institutional investors have recently bought and sold shares of APA. Principal Financial Group Inc. increased its position in shares of APA by 2.1% during the third quarter. Principal Financial Group Inc. now owns 374,571 shares of the company’s stock worth $15,395,000 after purchasing an additional 7,811 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of APA by 17.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 158,528 shares of the company’s stock worth $6,516,000 after buying an additional 23,804 shares in the last quarter. Ieq Capital LLC boosted its position in APA by 14.5% during the third quarter. Ieq Capital LLC now owns 11,150 shares of the company’s stock worth $458,000 after acquiring an additional 1,414 shares during the last quarter. Lincoln National Corp purchased a new stake in APA during the 3rd quarter valued at about $203,000. Finally, Victory Capital Management Inc. raised its holdings in APA by 28.1% in the 3rd quarter. Victory Capital Management Inc. now owns 817,118 shares of the company’s stock valued at $33,584,000 after acquiring an additional 179,028 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.