APA (APA) – Analysts’ Recent Ratings Changes

APA (NASDAQ: APA) has recently received a number of price target changes and ratings updates:

• 4/8/2024 – APA had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $45.00 price target on the stock.
• 4/5/2024 – APA had its price target lowered by analysts at Truist Financial Co. from $59.00 to $53.00. They now have a “buy” rating on the stock.
• 4/2/2024 – APA had its price target raised by analysts at Roth Mkm from $37.00 to $39.00. They now have a “buy” rating on the stock.
• 3/26/2024 – APA had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $35.00 to $31.00. They now have a “sell” rating on the stock.
• 3/20/2024 – APA had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $59.00 price target on the stock.
• 3/15/2024 – APA had its price target lowered by analysts at Mizuho from $36.00 to $34.00. They now have an “underperform” rating on the stock.
• 3/7/2024 – APA had its price target lowered by analysts at Piper Sandler from $36.00 to $33.00. They now have a “neutral” rating on the stock.
• 2/23/2024 – APA had its price target lowered by analysts at Truist Financial Co. from $64.00 to $59.00. They now have a “buy” rating on the stock.

APA Price Performance

NASDAQ APA traded down $0.15 during trading hours on Tuesday, reaching $34.89. The company’s stock had a trading volume of 6,547,210 shares, compared to its average volume of 7,000,333. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day moving average is $31.88 and its two-hundred day moving average is $35.06. APA Co. has a fifty-two week low of $29.47 and a fifty-two week high of $46.15. The stock has a market cap of $10.53 billion, a PE ratio of 3.76 and a beta of 3.27.

APA (NASDAQ:APA) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. APA had a net margin of 34.95% and a return on equity of 62.64%. APA’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 EPS. Analysts forecast that APA Co. will post 4.46 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 2.87%. APA’s dividend payout ratio (DPR) is presently 10.78%.

Hedge Funds Weigh In On APA

Several large investors have recently added to or reduced their stakes in the business. Lido Advisors LLC boosted its holdings in shares of APA by 1.2% in the 3rd quarter. Lido Advisors LLC now owns 21,901 shares of the company’s stock valued at $900,000 after purchasing an additional 266 shares during the last quarter. DNB Asset Management AS raised its position in shares of APA by 0.6% in the 4th quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock worth $1,788,000 after buying an additional 308 shares during the period. HB Wealth Management LLC boosted its holdings in APA by 5.0% in the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock valued at $234,000 after acquiring an additional 309 shares during the last quarter. Horizon Investments LLC grew its position in APA by 7.1% during the second quarter. Horizon Investments LLC now owns 4,902 shares of the company’s stock valued at $166,000 after acquiring an additional 323 shares during the period. Finally, Harbour Investments Inc. increased its stake in APA by 30.7% during the second quarter. Harbour Investments Inc. now owns 1,453 shares of the company’s stock worth $50,000 after acquiring an additional 341 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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.