APA Corporation (NASDAQ:APA) Receives $23.47 Average PT from Brokerages

APA Corporation (NASDAQ:APA) has earned an average rating of “Hold” from the twenty research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.7647.

A number of research firms have weighed in on APA. Piper Sandler lifted their price objective on APA from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. Mizuho decreased their price objective on APA from $19.00 to $18.00 and set an “underperform” rating on the stock in a report on Monday, September 15th. Roth Capital downgraded APA from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a report on Wednesday, August 13th. Royal Bank Of Canada decreased their price objective on APA from $24.00 to $22.00 and set a “sector perform” rating on the stock in a report on Monday, July 14th. Finally, Morgan Stanley lifted their price objective on APA from $22.00 to $23.00 and gave the company an “underweight” rating in a report on Monday, August 18th.

APA Stock Down 7.3%

APA stock opened at $21.94 on Friday. APA has a twelve month low of $13.58 and a twelve month high of $27.22. The company has a market cap of $7.85 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 6.31 and a beta of 1.16. The business’s 50-day simple moving average is $22.49 and its 200 day simple moving average is $19.51. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last released its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business earned $1.17 earnings per share. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, research analysts anticipate that APA will post 4.03 earnings per share for the current year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s payout ratio is presently 33.44%.

Institutional Investors Weigh In On APA

A number of institutional investors have recently added to or reduced their stakes in APA. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of APA by 2.9% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock worth $765,964,000 after acquiring an additional 1,029,961 shares in the last quarter. Harris Associates L P boosted its holdings in shares of APA by 1.9% in the 1st quarter. Harris Associates L P now owns 25,708,527 shares of the company’s stock worth $540,393,000 after acquiring an additional 488,530 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of APA by 2.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,208,961 shares of the company’s stock worth $259,882,000 after acquiring an additional 275,981 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of APA by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock worth $190,876,000 after acquiring an additional 2,894,543 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after acquiring an additional 1,869,891 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.