APA Corporation (NASDAQ:APA) Receives $26.35 Consensus PT from Brokerages

APA Corporation (NASDAQ:APA) has been given a consensus recommendation of “Hold” by the twenty-eight research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $26.3478.

Several brokerages have recently issued reports on APA. Wolfe Research restated an “outperform” rating and set a $35.00 target price on shares of APA in a research report on Wednesday, January 21st. Capital One Financial reduced their price objective on APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, January 9th. Benchmark restated a “buy” rating on shares of APA in a research report on Monday, February 2nd. Piper Sandler lifted their target price on APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 18th. Finally, Raymond James Financial restated an “outperform” rating and set a $31.00 price target on shares of APA in a report on Monday, November 24th.

Institutional Trading of APA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of APA by 869.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock valued at $4,872,000 after buying an additional 174,369 shares in the last quarter. Prudential Financial Inc. lifted its position in APA by 38.8% during the second quarter. Prudential Financial Inc. now owns 284,275 shares of the company’s stock valued at $5,199,000 after acquiring an additional 79,451 shares during the last quarter. Pacific Heights Asset Management LLC boosted its stake in APA by 33.3% in the second quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the company’s stock valued at $7,316,000 after acquiring an additional 100,000 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in APA in the third quarter valued at approximately $2,337,000. Finally, AE Wealth Management LLC grew its holdings in APA by 2,049.4% in the third quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock worth $9,797,000 after purchasing an additional 384,738 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Price Performance

Shares of APA stock opened at $27.92 on Thursday. The firm has a market cap of $9.90 billion, a PE ratio of 6.71, a PEG ratio of 12.76 and a beta of 0.74. APA has a 12 month low of $13.58 and a 12 month high of $28.56. The stock has a 50 day moving average of $25.63 and a 200 day moving average of $23.99. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, April 22nd. APA’s dividend payout ratio (DPR) is 24.04%.

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.