APA Corporation (NASDAQ:APA – Get Free Report) has earned a consensus recommendation of “Hold” from the thirty-one research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.14.
A number of equities research analysts have commented on APA shares. Truist Financial lifted their target price on shares of APA from $39.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, September 21st. Morgan Stanley cut their price objective on APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, June 26th. UBS Group increased their price target on APA from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Mizuho upgraded shares of APA to a “strong sell” rating in a research report on Friday, July 31st. Finally, Seaport Research Partners initiated coverage on APA in a research report on Thursday, September 3rd. They set a “neutral” rating for the company.
Read Our Latest Stock Analysis on APA
APA Stock Performance
APA (NASDAQ:APA – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the business posted $0.87 EPS. On average, equities research analysts forecast that APA will post 5.8 earnings per share for the current fiscal year.
APA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
APA Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $1.00 annualized dividend and a yield of 2.3%. APA’s dividend payout ratio (DPR) is presently 21.14%.
Hedge Funds Weigh In On APA
A number of institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC bought a new position in APA in the second quarter worth approximately $835,000. Engineers Gate Manager LP bought a new stake in APA during the 2nd quarter valued at $1,468,000. Madison Asset Management LLC bought a new stake in APA during the 2nd quarter valued at $10,703,000. Prudential PLC lifted its holdings in shares of APA by 753.2% in the 4th quarter. Prudential PLC now owns 136,744 shares of the company’s stock worth $3,345,000 after buying an additional 120,717 shares during the period. Finally, Hoertkorn Richard Charles purchased a new stake in shares of APA in the 1st quarter worth $2,429,000. 83.01% of the stock is owned by hedge funds and other institutional investors.
APA Company Profile
APA Corporation (NASDAQ: APA) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.
APA’s principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country’s offshore blocks.
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