Shares of APA Corporation (NASDAQ:APA – Get Free Report) have received a consensus rating of “Hold” from the twenty-nine research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $41.2963.
APA has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on APA from $38.00 to $41.00 in a research note on Friday, May 8th. Benchmark boosted their target price on APA from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial upped their price target on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday. Sanford C. Bernstein increased their price target on APA from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, May 20th. Finally, Zacks Research cut APA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th.
Check Out Our Latest Report on APA
Insiders Place Their Bets
Institutional Investors Weigh In On APA
Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of APA in the 2nd quarter valued at $1,173,231,000. Arrowstreet Capital Limited Partnership grew its stake in shares of APA by 1,726.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after purchasing an additional 4,569,779 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of APA during the second quarter worth $134,558,000. Goldman Sachs Group Inc. increased its holdings in APA by 76.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after buying an additional 3,117,032 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in APA by 157.1% in the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after buying an additional 1,869,891 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.
APA Trading Down 1.6%
Shares of APA stock opened at $39.97 on Thursday. APA has a fifty-two week low of $19.96 and a fifty-two week high of $45.66. The company has a 50 day moving average price of $35.28 and a 200 day moving average price of $35.06. The stock has a market capitalization of $14.00 billion, a P/E ratio of 8.45 and a beta of 0.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95.
APA (NASDAQ:APA – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (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 for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the company earned $0.87 earnings per share. Equities research analysts predict that APA will post 5.16 EPS for the current fiscal year.
APA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 22nd. APA’s dividend payout ratio is presently 21.14%.
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.
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