APA (NASDAQ:APA) Price Target Raised to $45.00

APA (NASDAQ:APA) had its target price lifted by Wolfe Research from $39.00 to $45.00 in a report released on Monday,MarketScreener reports.

Several other equities research analysts have also recently issued reports on APA. Citigroup raised their price objective on shares of APA from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Stephens boosted their target price on shares of APA from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, February 17th. Benchmark increased their price target on shares of APA from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Johnson Rice upgraded 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. Finally, Royal Bank Of Canada lifted their price target on shares of APA from $26.00 to $29.00 and gave the company a “sector perform” rating in a research report on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, APA currently has a consensus rating of “Hold” and an average target price of $29.63.

APA Stock Up 3.6%

Shares of NASDAQ:APA opened at $32.97 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $27.51 and a two-hundred day moving average of $25.20. The stock has a market cap of $11.65 billion, a P/E ratio of 8.26, a PEG ratio of 16.50 and a beta of 0.67. APA has a 52-week low of $13.58 and a 52-week high of $33.78.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The company’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, research analysts expect that APA will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders 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 dividend yield of 3.0%. APA’s dividend payout ratio is currently 25.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators grew its stake in APA by 276.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares in the last quarter. Summit Securities Group LLC raised its position in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after purchasing an additional 710 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in APA in the 3rd quarter valued at about $34,000. Spire Wealth Management boosted its stake in shares of APA by 179.6% in the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after buying an additional 977 shares during the period. Finally, Camelot Portfolios LLC acquired a new position in shares of APA during the fourth quarter worth about $37,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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.