APA (NASDAQ:APA) PT Raised to $49.00

APA (NASDAQ:APA) had its price target boosted by Mizuho from $47.00 to $49.00 in a report released on Monday, MarketBeat reports. The brokerage currently has an underperform rating on the stock.

APA has been the topic of a number of other reports. Jefferies Financial Group increased their price objective on shares of APA from $39.00 to $43.00 and gave the stock a hold rating in a research report on Monday, August 28th. Benchmark reaffirmed a buy rating and set a $46.00 target price on shares of APA in a research report on Thursday, September 14th. Morgan Stanley raised their target price on shares of APA from $37.00 to $38.00 and gave the stock an equal weight rating in a research report on Friday, August 18th. UBS Group raised their target price on shares of APA from $35.00 to $53.00 and gave the stock a neutral rating in a research report on Thursday, August 17th. Finally, Royal Bank of Canada raised their target price on shares of APA from $47.00 to $50.00 and gave the stock a sector perform rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $47.57.

APA Stock Performance

APA stock opened at $42.71 on Monday. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.99 and a quick ratio of 0.99. APA has a 1-year low of $30.67 and a 1-year high of $50.58. The firm has a market capitalization of $13.12 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 8.17 and a beta of 3.53. The company’s 50-day moving average is $41.88 and its 200 day moving average is $37.27.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. APA had a net margin of 16.14% and a return on equity of 117.05%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company posted $2.37 EPS. The firm’s revenue for the quarter was down 41.2% on a year-over-year basis. Research analysts forecast that APA will post 4.42 EPS for the current year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be paid a $0.25 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.00 annualized dividend and a yield of 2.34%. APA’s dividend payout ratio (DPR) is 21.41%.

Institutional Investors Weigh In On APA

Several institutional investors have recently bought and sold shares of APA. Covestor Ltd boosted its stake in APA by 117.8% in the first quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after acquiring an additional 437 shares in the last quarter. Money Concepts Capital Corp lifted its stake in shares of APA by 228.6% during the fourth quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock worth $34,000 after buying an additional 503 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of APA during the first quarter worth $35,000. Quarry LP lifted its position in APA by 2,535.1% during the first quarter. Quarry LP now owns 975 shares of the company’s stock valued at $35,000 after purchasing an additional 938 shares during the period. Finally, Lindbrook Capital LLC lifted its position in APA by 35.9% during the first quarter. Lindbrook Capital LLC now owns 1,075 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the period. 80.48% of the stock is currently owned by institutional investors and hedge funds.

About APA

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.