APA (NASDAQ:APA) Given New $27.00 Price Target at Bank of America

APA (NASDAQ:APA) had its target price increased by Bank of America from $23.00 to $27.00 in a research note issued to investors on Monday morning,MarketScreener reports. They currently have an underperform rating on the stock.

APA has been the subject of several other research reports. Citigroup increased their price target on shares of APA from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of APA in a research note on Monday, December 29th. Barclays increased their target price on shares of APA from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday. Royal Bank Of Canada raised their price target on shares of APA from $26.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 5th. Finally, Susquehanna upped their price objective on APA from $32.00 to $37.00 and gave the company a “positive” rating in a research note on Tuesday, March 3rd. Seven analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $29.96.

APA Stock Performance

APA stock traded up $1.07 during mid-day trading on Monday, reaching $35.61. 706,646 shares of the company’s stock were exchanged, compared to its average volume of 7,149,185. The business’s fifty day simple moving average is $28.08 and its 200 day simple moving average is $25.47. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. APA has a one year low of $13.58 and a one year high of $35.63. The firm has a market capitalization of $12.58 billion, a PE ratio of 8.93, a P/E/G ratio of 17.00 and a beta of 0.67.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 19.89% 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 prior year, the company earned $0.79 EPS. On average, sell-side analysts expect that APA will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, April 22nd. APA’s payout ratio is currently 25.06%.

Institutional Investors Weigh In On APA

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in APA by 869.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock worth $4,872,000 after purchasing an additional 174,369 shares during the period. United Capital Management of KS Inc. purchased a new position in APA during the 3rd quarter valued at about $1,214,000. Prudential Financial Inc. increased its position in shares of APA by 38.8% during the second quarter. Prudential Financial Inc. now owns 284,275 shares of the company’s stock valued at $5,199,000 after buying an additional 79,451 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of APA during the third quarter valued at about $2,337,000. Finally, AE Wealth Management LLC lifted its holdings in shares of APA by 2,049.4% in the third quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock worth $9,797,000 after buying an additional 384,738 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Company Profile

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.