APA (NASDAQ:APA) Price Target Cut to $28.00 by Analysts at Mizuho

APA (NASDAQ:APA) had its price objective trimmed by Mizuho from $35.00 to $28.00 in a report published on Monday, Benzinga reports. The firm currently has an underperform rating on the stock.

Other research analysts also recently issued research reports about the company. Piper Sandler lowered their target price on APA from $34.00 to $29.00 and set a neutral rating for the company in a research note on Thursday, August 15th. UBS Group lowered their price objective on shares of APA from $38.00 to $35.00 and set a neutral rating for the company in a research report on Tuesday, August 6th. Susquehanna cut their target price on shares of APA from $57.00 to $52.00 and set a positive rating on the stock in a research report on Wednesday, September 4th. Truist Financial upped their price target on shares of APA from $45.00 to $46.00 and gave the stock a buy rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on APA from $36.00 to $27.00 and set a neutral rating on the stock in a report on Thursday, September 12th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, APA presently has an average rating of Hold and a consensus target price of $36.38.

APA Stock Performance

NASDAQ APA opened at $25.11 on Monday. The firm has a 50-day moving average price of $28.55 and a two-hundred day moving average price of $30.19. APA has a 12-month low of $22.72 and a 12-month high of $43.58. The company has a market capitalization of $9.32 billion, a P/E ratio of 2.81 and a beta of 3.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s revenue was up 41.6% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Analysts anticipate that APA will post 4.34 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.98%. APA’s payout ratio is 11.19%.

Institutional Investors Weigh In On APA

A number of hedge funds have recently added to or reduced their stakes in APA. Sanctuary Advisors LLC acquired a new position in shares of APA during the second quarter valued at about $308,000. Teachers Retirement System of The State of Kentucky raised its stake in APA by 12.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 908,906 shares of the company’s stock worth $26,758,000 after buying an additional 100,160 shares during the period. Cetera Investment Advisers boosted its holdings in APA by 160.1% in the second quarter. Cetera Investment Advisers now owns 75,593 shares of the company’s stock worth $2,225,000 after acquiring an additional 46,535 shares in the last quarter. IMS Capital Management acquired a new stake in APA in the second quarter valued at approximately $318,000. Finally, Truist Financial Corp increased its holdings in shares of APA by 44.0% during the second quarter. Truist Financial Corp now owns 38,710 shares of the company’s stock valued at $1,140,000 after acquiring an additional 11,827 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

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.