APA (NASDAQ:APA) Price Target Cut to $29.00 by Analysts at Citigroup

APA (NASDAQ:APA) had its price objective lowered by Citigroup from $32.00 to $29.00 in a research report report published on Friday.

APA has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Truist Financial increased their price target on shares of APA from $34.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI lowered their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. The Goldman Sachs Group lowered their target price on shares of APA from $30.00 to $26.00 and set a “sell” rating on the stock in a report on Monday, October 7th. Finally, UBS Group lowered their target price on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Four investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.18.

APA Trading Down 0.2 %

Shares of NASDAQ:APA opened at $25.11 on Friday. The company’s 50-day moving average price is $26.43 and its two-hundred day moving average price is $29.02. APA has a one year low of $22.72 and a one year high of $41.86. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $9.32 billion, a PE ratio of 2.81 and a beta of 3.23.

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. APA had a net margin of 32.66% and a return on equity of 35.95%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business posted $0.85 EPS. The company’s quarterly revenue was up 41.6% on a year-over-year basis. On average, equities analysts forecast that APA will post 3.97 EPS for the current fiscal year.

APA Announces Dividend

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

Institutional Trading of APA

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in APA by 18.5% in the first quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares in the last quarter. Woodstock Corp increased its stake in APA by 20.3% in the third quarter. Woodstock Corp now owns 308,253 shares of the company’s stock valued at $7,540,000 after purchasing an additional 51,993 shares in the last quarter. Ellis Investment Partners LLC bought a new stake in APA in the second quarter valued at $2,499,000. Finally, AQR Capital Management LLC increased its stake in APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after purchasing an additional 767,557 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Company Profile

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.