Analysts Set APA Corporation (NASDAQ:APA) Price Target at $26.35

Shares of APA Corporation (NASDAQ:APA) have been given an average rating of “Hold” by the twenty-eight brokerages that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $26.3913.

A number of equities analysts have recently issued reports on the company. Capital One Financial reduced their price target on APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Stephens upped their target price on APA from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday. Susquehanna upped their price objective on shares of APA from $30.00 to $32.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. Barclays set a $24.00 target price on shares of APA in a research report on Wednesday, January 21st. Finally, Johnson Rice raised shares of APA from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $35.00 to $40.00 in a report on Thursday, December 4th.

APA Stock Up 4.6%

Shares of APA stock opened at $28.61 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The company has a market cap of $10.15 billion, a P/E ratio of 6.88, a PEG ratio of 12.50 and a beta of 0.74. The firm’s 50 day moving average price is $25.69 and its 200-day moving average price is $24.08. APA has a 52-week low of $13.58 and a 52-week high of $28.86.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. APA’s payout ratio is currently 24.04%.

Institutional Investors Weigh In On APA

Institutional investors and hedge funds have recently modified their holdings of the company. Coldstream Capital Management Inc. increased its holdings in APA by 1.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after buying an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of APA by 3.2% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock valued at $358,000 after acquiring an additional 461 shares during the last quarter. Howard Capital Management Inc. increased its stake in shares of APA by 0.5% in the third quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock worth $2,303,000 after acquiring an additional 485 shares during the period. one8zero8 LLC raised its holdings in shares of APA by 1.2% during the third quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock worth $1,026,000 after purchasing an additional 488 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in APA by 0.5% during the third quarter. Arizona State Retirement System now owns 106,734 shares of the company’s stock valued at $2,592,000 after purchasing an additional 517 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

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.