APA Corporation (NASDAQ:APA) Receives $25.90 Consensus PT from Brokerages

by · The Cerbat Gem

Shares of APA Corporation (NASDAQ:APA – Get Free Report) have been assigned a consensus recommendation of “Hold” from the twenty-four analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $25.9048.

A number of equities research analysts have recently issued reports on APA shares. Scotiabank upped their price objective on shares of APA from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Barclays boosted their price target on shares of APA from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 19th. Piper Sandler raised their price objective on APA from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Morgan Stanley boosted their target price on APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, November 20th. Finally, Raymond James Financial restated an “outperform” rating and set a $31.00 target price on shares of APA in a report on Monday, November 24th.

Check Out Our Latest Analysis on APA

APA Price Performance

Shares of APA stock opened at $25.28 on Friday. The firm has a market capitalization of $8.97 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 6.28 and a beta of 1.12. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. APA has a 12 month low of $13.58 and a 12 month high of $25.83. The business’s 50-day moving average price is $23.79 and its 200-day moving average price is $21.31.

APA (NASDAQ:APA – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.19. APA had a return on equity of 20.98% and a net margin of 10.53%.The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. APA’s revenue for the quarter was down 16.4% on a year-over-year basis. Sell-side analysts forecast that APA will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, October 22nd. APA’s dividend payout ratio is 24.04%.

Institutional Investors Weigh In On APA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CMC Financial Group purchased a new stake in APA in the third quarter worth about $317,000. Cambria Investment Management L.P. bought a new position in shares of APA in the 3rd quarter worth approximately $9,192,000. CIBC Bancorp USA Inc. purchased a new position in shares of APA in the 3rd quarter valued at approximately $887,000. Sunbelt Securities Inc. lifted its stake in shares of APA by 54.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 4,389 shares of the company’s stock valued at $107,000 after purchasing an additional 1,550 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of APA by 14.6% during the third quarter. Coldstream Capital Management Inc. now owns 27,775 shares of the company’s stock valued at $674,000 after purchasing an additional 3,530 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

About APA

(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.

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