Truist Financial Boosts APA (NASDAQ:APA) Price Target to $36.00

by · The Cerbat Gem

APA (NASDAQ:APA – Free Report) had its target price lifted by Truist Financial from $34.00 to $36.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on APA. Barclays lowered their target price on APA from $35.00 to $30.00 and set an equal weight rating on the stock in a report on Thursday, October 3rd. Susquehanna dropped their target price on shares of APA from $57.00 to $52.00 and set a positive rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on shares of APA from $49.00 to $47.00 and set an overweight rating for the company in a report on Tuesday, October 1st. Royal Bank of Canada reiterated a sector perform rating and set a $41.00 price objective on shares of APA in a research report on Tuesday, September 17th. Finally, Mizuho decreased their target price on APA from $35.00 to $28.00 and set an underperform rating on the stock in a report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $34.90.

Get Our Latest Report on APA

APA Trading Up 0.8 %

Shares of NASDAQ:APA opened at $27.07 on Wednesday. The company has a 50 day moving average of $26.67 and a 200-day moving average of $29.41. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market cap of $10.01 billion, a P/E ratio of 2.95 and a beta of 3.23. APA has a twelve month low of $22.72 and a twelve month high of $43.58.

APA (NASDAQ:APA – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 41.6% compared to the same quarter last year. As a group, analysts anticipate that APA will post 3.97 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.69%. APA’s payout ratio is 10.91%.

Hedge Funds Weigh In On APA

Several institutional investors and hedge funds have recently modified their holdings of APA. American National Bank raised 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 acquiring an additional 490 shares in the last quarter. Covestor Ltd increased its position in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of APA during the 2nd quarter valued at about $42,000. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after buying an additional 1,590 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Company Profile

(Get Free Report)

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.

Featured Stories