APA (NASDAQ:APA) Price Target Cut to $29.00 by Analysts at UBS Group

APA (NASDAQ:APA) had its target price trimmed by UBS Group from $35.00 to $29.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the company. Wolfe Research assumed coverage on APA in a report on Thursday, July 18th. They issued an outperform rating and a $42.00 price target on the stock. Citigroup reduced their target price on APA from $33.00 to $32.00 and set a neutral rating on the stock in a report on Monday, September 9th. Barclays restated an equal weight rating and set a $35.00 target price on shares of APA in a report on Wednesday, September 11th. Piper Sandler reduced their target price on APA from $34.00 to $29.00 and set a neutral rating on the stock in a report on Thursday, August 15th. Finally, Truist Financial raised their target price on APA from $45.00 to $46.00 and gave the stock a buy rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, APA currently has a consensus rating of Hold and an average price target of $36.38.

APA Stock Down 1.1 %

NASDAQ APA opened at $25.07 on Wednesday. The stock has a market capitalization of $9.31 billion, a P/E ratio of 2.80 and a beta of 3.24. APA has a 52 week low of $22.72 and a 52 week high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $28.39 and a 200-day moving average of $30.13.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. On average, equities research analysts forecast that APA will post 4.34 EPS for the current year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 11.19%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. American National Bank boosted its stake in shares of APA by 208.5% during 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 period. Principal Securities Inc. bought a new position in shares of APA during the 4th quarter worth approximately $39,000. Covestor Ltd boosted its stake in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. boosted 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 acquiring an additional 1,079 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of APA during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.