APA (NASDAQ:APA) Downgraded by StockNews.com

StockNews.com lowered shares of APA (NASDAQ:APA) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other research analysts have also issued research reports about the company. Johnson Rice lowered APA from a buy rating to a hold rating and set a $40.00 price target on the stock. in a research report on Friday, January 5th. Morgan Stanley reaffirmed an underweight rating and set a $28.00 price target on shares of APA in a research report on Monday, April 15th. Piper Sandler lifted their price objective on shares of APA from $33.00 to $35.00 and gave the company a neutral rating in a research report on Friday, April 19th. Truist Financial dropped 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, The Goldman Sachs Group reduced their price target on APA from $35.00 to $31.00 and set a sell rating for the company in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, APA has an average rating of Hold and a consensus target price of $42.05.

APA Price Performance

NASDAQ APA opened at $29.92 on Friday. The firm’s 50 day moving average is $32.52 and its 200-day moving average is $34.01. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $9.01 billion, a PE ratio of 3.35 and a beta of 3.29. APA has a 12-month low of $28.90 and a 12-month high of $46.15.

APA (NASDAQ:APA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a net margin of 34.04% and a return on equity of 45.32%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that APA will post 5.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be paid a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.34%. APA’s payout ratio is currently 11.19%.

Hedge Funds Weigh In On APA

Institutional investors have recently added to or reduced their stakes in the stock. American National Bank increased its holdings in shares of APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in APA in the 3rd quarter worth about $34,000. Quent Capital LLC raised its position in APA by 64.0% in the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after purchasing an additional 375 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of APA during the fourth quarter valued at about $34,000. Finally, Principal Securities Inc. bought a new stake in shares of APA during the fourth quarter worth about $39,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

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.