APA (NASDAQ:APA) Price Target Cut to $31.00

APA (NASDAQ:APA) had its price target reduced by The Goldman Sachs Group from $35.00 to $31.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Other research analysts have also issued research reports about the stock. Scotiabank reissued a sector perform rating and set a $37.00 target price (down previously from $43.00) on shares of APA in a research report on Tuesday, January 16th. Raymond James reduced their price target on shares of APA from $44.00 to $43.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Mizuho reduced their target price on shares of APA from $36.00 to $34.00 and set an underperform rating on the stock in a research report on Friday, March 15th. Truist Financial restated a buy rating and issued a $59.00 price objective on shares of APA in a report on Wednesday, March 20th. Finally, StockNews.com lowered shares of APA from a buy rating to a hold rating in a report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, APA has an average rating of Hold and a consensus price target of $43.61.

APA Trading Up 2.0 %

Shares of NASDAQ:APA opened at $34.38 on Tuesday. The firm has a fifty day moving average of $31.41 and a two-hundred day moving average of $35.45. The firm has a market capitalization of $10.38 billion, a P/E ratio of 3.70 and a beta of 3.27. APA has a 12-month low of $29.47 and a 12-month high of $46.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41.

APA (NASDAQ:APA) last issued its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business earned $1.48 EPS. The company’s quarterly revenue was down 12.3% on a year-over-year basis. On average, equities analysts expect that APA will post 4.24 EPS for the current fiscal year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors 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 2.91%. The ex-dividend date of this dividend is Friday, April 19th. APA’s dividend payout ratio (DPR) is presently 10.78%.

Institutional Investors Weigh In On APA

Several hedge funds and other institutional investors have recently made changes to their positions in APA. Covestor Ltd grew its holdings in shares of APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after purchasing an additional 437 shares during the last quarter. Money Concepts Capital Corp boosted its position in APA by 228.6% during the 4th quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock worth $34,000 after buying an additional 503 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in APA during the 3rd quarter worth approximately $34,000. Quent Capital LLC boosted its position in APA by 64.0% during 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 stake in APA during the 4th quarter worth approximately $34,000. 83.01% of the stock is owned by 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.