Truist Financial Trims APA (NASDAQ:APA) Target Price to $34.00

APA (NASDAQ:APA) had its target price decreased by Truist Financial from $46.00 to $34.00 in a report published on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. UBS Group cut their target price on shares of APA from $35.00 to $29.00 and set a neutral rating for the company in a research note on Wednesday, September 18th. Citigroup lowered their price target on shares of APA from $33.00 to $32.00 and set a neutral rating for the company in a report on Monday, September 9th. Susquehanna lowered their price target on shares of APA from $57.00 to $52.00 and set a positive rating for the company in a report on Wednesday, September 4th. Bank of America reissued an underperform rating and issued a $31.00 price target on shares of APA in a report on Friday, June 14th. Finally, Barclays reissued an equal weight rating and issued a $35.00 price target on shares of APA in a report on Wednesday, September 11th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $35.19.

APA Stock Performance

NASDAQ:APA opened at $26.53 on Monday. APA has a 1 year low of $22.72 and a 1 year high of $43.58. The firm has a 50 day moving average of $27.24 and a 200-day moving average of $29.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $9.85 billion, a P/E ratio of 2.98 and a beta of 3.24.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. APA’s quarterly revenue was up 41.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that APA will post 4.04 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.77%. APA’s dividend payout ratio is 11.19%.

Institutional Investors Weigh In On APA

Institutional investors have recently added to or reduced their stakes in the stock. American National Bank lifted its position in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after acquiring an additional 490 shares in the last quarter. Covestor Ltd lifted its position in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after acquiring an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after acquiring an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new stake in APA in the 2nd quarter valued at $42,000. Finally, GPS Wealth Strategies Group LLC lifted its position in APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares in the last quarter. 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.