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

APA (NASDAQ:APA) had its price target reduced by UBS Group from $35.00 to $29.00 in a research report sent to investors on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Citigroup dropped their price target on APA from $33.00 to $32.00 and set a neutral rating for the company in a research note on Monday, September 9th. Wells Fargo & Company reduced their price target on shares of APA from $50.00 to $49.00 and set an overweight rating on the stock in a research report on Wednesday, August 14th. Truist Financial increased their price objective on shares of APA from $45.00 to $46.00 and gave the company a buy rating in a research report on Friday, August 2nd. Wolfe Research assumed coverage on shares of APA in a research report on Thursday, July 18th. They set an outperform rating and a $42.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on APA from $36.00 to $27.00 and set a neutral rating on the stock in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $36.38.

APA Trading Down 0.6 %

Shares of APA opened at $25.11 on Wednesday. APA has a 1 year low of $22.72 and a 1 year high of $43.58. The company has a 50 day simple moving average of $28.55 and a two-hundred day simple moving average of $30.19. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $9.32 billion, a P/E ratio of 2.81 and a beta of 3.24.

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

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is presently 11.19%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Sunpointe LLC boosted its stake in APA by 2.8% in the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after acquiring an additional 362 shares in the last quarter. GAMMA Investing LLC raised its stake in APA by 12.0% in the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after buying an additional 380 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in APA by 6.7% in the second quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after acquiring an additional 429 shares in the last quarter. Stephens Inc. AR grew its stake in shares of APA by 0.9% during the fourth quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock worth $1,775,000 after acquiring an additional 436 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of APA by 18.1% during the first quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock valued at $98,000 after acquiring an additional 439 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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.