APA (NASDAQ:APA) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of APA (NASDAQ:APA) in a report published on Tuesday morning, Benzinga reports. They currently have a $41.00 target price on the stock.

Several other equities analysts have also recently issued reports on APA. Susquehanna reduced their price objective on APA from $57.00 to $52.00 and set a positive rating for the company in a report on Wednesday, September 4th. Barclays reaffirmed an equal weight rating and set a $35.00 price objective on shares of APA in a report on Wednesday, September 11th. Bank of America reaffirmed an underperform rating and set a $31.00 price objective on shares of APA in a report on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on APA from $36.00 to $27.00 and set a neutral rating for the company in a report on Thursday, September 12th. Finally, Truist Financial boosted their price target on APA from $45.00 to $46.00 and gave the stock a buy rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $36.38.

APA Stock Down 1.1 %

APA stock opened at $25.07 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. APA has a 1-year low of $22.72 and a 1-year high of $43.58. The company has a market cap of $9.31 billion, a PE ratio of 2.80 and a beta of 3.24. The stock’s 50 day moving average price is $28.39 and its 200 day moving average price is $30.13.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. On average, sell-side analysts predict that APA will post 4.34 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. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Investors Weigh In On APA

A number of institutional investors have recently added to or reduced their stakes in the company. American National Bank boosted its position in shares of APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares during the period. Covestor Ltd boosted its position in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after buying an additional 470 shares during the period. Principal Securities Inc. purchased a new stake in shares of APA in the fourth quarter worth about $39,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares during the period. Finally, Rothschild Investment LLC purchased a new position in APA in the second quarter valued at about $42,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.