APA (NASDAQ:APA) Coverage Initiated by Analysts at Barclays

Barclays initiated coverage on shares of APA (NASDAQ:APA) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued an equal weight rating and a $40.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler dropped their price objective on shares of APA from $36.00 to $33.00 and set a neutral rating for the company in a research note on Thursday, March 7th. Susquehanna dropped their price objective on shares of APA from $53.00 to $50.00 and set a positive rating for the company in a research note on Friday, January 26th. Raymond James dropped their price objective on shares of APA from $44.00 to $43.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Truist Financial decreased their target price on shares of APA from $59.00 to $53.00 and set a buy rating on the stock in a report on Friday, April 5th. Finally, Roth Mkm boosted their target price on shares of APA from $37.00 to $39.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $42.42.

APA Stock Up 0.5 %

APA stock opened at $35.05 on Wednesday. The stock has a market capitalization of $10.58 billion, a P/E ratio of 3.78 and a beta of 3.27. The firm has a 50-day simple moving average of $32.00 and a 200-day simple moving average of $35.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. APA has a 52 week low of $29.47 and a 52 week high of $46.15.

APA (NASDAQ:APA) last released its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. Equities analysts forecast that APA will post 4.46 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. APA’s dividend payout ratio is currently 10.78%.

Hedge Funds Weigh In On APA

Large investors have recently made changes to their positions in the stock. American National Bank lifted its holdings in shares of APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after acquiring an additional 490 shares during the last quarter. Covestor Ltd lifted its holdings in APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after buying an additional 437 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in APA during the 3rd quarter worth approximately $34,000. Quent Capital LLC lifted its holdings in APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after buying an additional 375 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in APA during the 4th quarter worth approximately $34,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.