APA (NASDAQ:APA) Now Covered by Wolfe Research

Wolfe Research initiated coverage on shares of APA (NASDAQ:APA) in a research report released on Thursday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $42.00 target price on the stock.

Other analysts have also issued reports about the company. Roth Mkm lifted their price objective on APA from $37.00 to $39.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Piper Sandler lifted their price target on shares of APA from $33.00 to $34.00 and gave the stock a neutral rating in a research report on Thursday. Citigroup cut their price objective on shares of APA from $35.00 to $33.00 and set a neutral rating on the stock in a report on Friday, May 24th. Evercore ISI lowered shares of APA from an outperform rating to an inline rating and lowered their target price for the stock from $52.00 to $39.00 in a report on Friday, June 14th. Finally, Scotiabank dropped their target price on shares of APA from $37.00 to $30.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $39.18.

APA Price Performance

Shares of APA stock opened at $32.01 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 3.58, a PEG ratio of 0.39 and a beta of 3.26. The firm’s 50 day moving average is $29.60 and its 200-day moving average is $31.11. APA has a 1 year low of $27.17 and a 1 year high of $46.15.

APA (NASDAQ:APA) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Sell-side analysts forecast that APA will post 4.37 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders 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 dividend yield of 3.12%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio is 11.19%.

Institutional Investors Weigh In On APA

Several institutional investors have recently added to or reduced their stakes in the stock. Harris Associates L P increased its holdings in APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after purchasing an additional 2,367,570 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after buying an additional 1,938,335 shares in the last quarter. Webs Creek Capital Management LP acquired a new stake in APA in the 1st quarter valued at approximately $28,593,000. Finally, Smead Capital Management Inc. lifted its stake in APA by 13.6% in the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock valued at $187,866,000 after acquiring an additional 626,460 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

APA Company Profile

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.