APA Corporation (NASDAQ:APA) Given Consensus Rating of “Hold” by Brokerages

Shares of APA Corporation (NASDAQ:APA) have earned an average recommendation of “Hold” from the thirty research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $40.4231.

A number of equities research analysts have weighed in on APA shares. Raymond James Financial decreased their price objective on APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday. UBS Group lowered their price target on APA from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays lifted their price objective on APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Jefferies Financial Group upped their target price on shares of APA from $26.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada lifted their price target on shares of APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th.

APA Trading Up 0.0%

Shares of APA stock opened at $34.28 on Friday. The firm has a fifty day moving average of $35.72 and a 200-day moving average of $33.51. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 7.99 and a beta of 0.35. APA has a 52-week low of $17.86 and a 52-week high of $45.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.27. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. On average, equities research analysts forecast that APA will post 4.98 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. APA’s payout ratio is 23.31%.

Insider Buying and Selling

In other APA news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president owned 66,810 shares in the company, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On APA

A number of institutional investors have recently modified their holdings of APA. Allspring Global Investments Holdings LLC increased its stake in shares of APA by 57.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 306,195 shares of the company’s stock valued at $7,765,000 after buying an additional 111,777 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of APA by 71.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 185,818 shares of the company’s stock worth $4,437,000 after buying an additional 77,125 shares during the period. Gotham Asset Management LLC lifted its holdings in APA by 49.5% in the third quarter. Gotham Asset Management LLC now owns 1,578,720 shares of the company’s stock valued at $38,331,000 after buying an additional 522,673 shares during the period. Friedenthal Financial acquired a new stake in APA during the 4th quarter worth $938,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of APA by 85.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock valued at $1,976,000 after purchasing an additional 37,180 shares during the period. 83.01% of the stock is owned by institutional investors.

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.