Wolfe Research Cuts APA (NASDAQ:APA) Price Target to $36.00

APA (NASDAQ:APA) had its price objective reduced by Wolfe Research from $37.00 to $36.00 in a research note released on Monday,MarketScreener reports. Wolfe Research currently has an outperform rating on the stock.

Several other research analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of APA in a research note on Monday, December 29th. The Goldman Sachs Group increased their price target on shares of APA from $19.00 to $21.00 and gave the stock a “sell” rating in a report on Thursday, November 20th. Johnson Rice raised shares of APA from a “hold” rating to an “accumulate” rating and boosted their price objective for the company from $35.00 to $40.00 in a research note on Thursday, December 4th. Scotiabank upped their target price on shares of APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, BMO Capital Markets raised their price target on shares of APA from $28.00 to $30.00 and gave the company a “market perform” rating in a report on Monday, October 13th. Six analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, APA currently has a consensus rating of “Hold” and an average target price of $26.64.

APA Stock Performance

Shares of APA stock opened at $23.39 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 9.63 and a beta of 0.74. APA has a 52 week low of $13.58 and a 52 week high of $27.72. The firm’s 50-day simple moving average is $24.51 and its two-hundred day simple moving average is $22.54.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. APA had a return on equity of 19.86% and a net margin of 15.49%.The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. As a group, equities analysts forecast that APA will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Stockholders of record on Thursday, January 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, January 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.3%. APA’s dividend payout ratio (DPR) is 24.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in APA. Deseret Mutual Benefit Administrators increased its holdings in APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after buying an additional 891 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of APA by 144.9% in the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock valued at $34,000 after purchasing an additional 1,104 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of APA by 6,096.7% in the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after purchasing an additional 1,829 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in APA in the third quarter worth $34,000. Finally, Spire Wealth Management raised its stake in APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after purchasing an additional 977 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

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.