APA (NASDAQ:APA) Given New $25.00 Price Target at Evercore

APA (NASDAQ:APAFree Report) had its price objective upped by Evercore from $21.00 to $25.00 in a research note issued to investors on Thursday morning,MarketScreener reports.

A number of other research firms also recently issued reports on APA. Piper Sandler increased their target price on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Capital One Financial dropped their target price on shares of APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, January 9th. TD Cowen raised APA to a “hold” rating in a research report on Monday, February 9th. Raymond James Financial reiterated an “outperform” rating and issued a $31.00 price objective on shares of APA in a research report on Monday, November 24th. Finally, Sanford C. Bernstein decreased their target price on shares of APA from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and a consensus price target of $27.39.

Get Our Latest Stock Analysis on APA

APA Trading Up 0.8%

APA stock traded up $0.22 during midday trading on Thursday, reaching $29.32. The stock had a trading volume of 669,398 shares, compared to its average volume of 6,483,347. The firm’s fifty day simple moving average is $26.15 and its two-hundred day simple moving average is $24.45. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 12.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78. APA has a twelve month low of $13.58 and a twelve month high of $30.10.

APA (NASDAQ:APAGet Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.29. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 20.08% and a net margin of 15.55%.The business’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. Equities analysts anticipate that APA will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. APA’s dividend payout ratio (DPR) is presently 25.06%.

Institutional Trading of APA

A number of large investors have recently added to or reduced their stakes in APA. Goldman Sachs Group Inc. lifted its stake in APA by 76.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after purchasing an additional 3,117,032 shares during the last quarter. AQR Capital Management LLC raised its stake in APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after purchasing an additional 1,869,891 shares in the last quarter. Morgan Stanley grew its position in APA by 21.8% during the fourth quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after buying an additional 1,864,900 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of APA by 13.6% in the third quarter. Dimensional Fund Advisors LP now owns 14,030,230 shares of the company’s stock worth $340,657,000 after purchasing an additional 1,674,739 shares during the period. Finally, Northern Trust Corp grew its stake in APA by 29.6% during the third quarter. Northern Trust Corp now owns 4,462,476 shares of the company’s stock worth $108,349,000 after buying an additional 1,018,326 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Key Headlines Impacting APA

Here are the key news stories impacting APA this week:

About APA

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APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

Further Reading

Analyst Recommendations for APA (NASDAQ:APA)

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