APA Corporation (NASDAQ:APA) Receives $41.04 Consensus Price Target from Analysts

Shares of APA Corporation (NASDAQ:APA) have been given an average rating of “Hold” by the thirty analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $41.0769.

Several equities analysts have issued reports on the stock. Susquehanna upped their price target on shares of APA from $37.00 to $47.00 and gave the company a “positive” rating in a research report on Tuesday, April 21st. UBS Group upped their price target on shares of APA from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of APA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Piper Sandler upped their price target on shares of APA from $30.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Raymond James Financial upped their price target on shares of APA from $45.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th.

Insider Transactions at APA

In other APA news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On APA

Several institutional investors and hedge funds have recently added to or reduced their stakes in APA. Altshuler Shaham Ltd lifted its holdings in shares of APA by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after purchasing an additional 330 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after purchasing an additional 375 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after purchasing an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after purchasing an additional 461 shares during the period. Finally, Hollencrest Capital Management lifted its holdings in shares of APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Price Performance

APA stock opened at $34.22 on Wednesday. The company has a 50 day simple moving average of $37.34 and a 200 day simple moving average of $32.53. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 7.98 and a beta of 0.33. APA has a 1 year low of $17.74 and a 1 year high of $45.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. Research analysts anticipate that APA will post 5.6 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, July 22nd. APA’s dividend payout ratio is 23.31%.

APA Company Profile

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.