Mizuho Cuts APA (NASDAQ:APA) Price Target to $28.00

APA (NASDAQ:APA) had its target price lowered by Mizuho from $35.00 to $28.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an underperform rating on the stock.

APA has been the subject of several other research reports. Piper Sandler cut their price objective on shares of APA from $34.00 to $29.00 and set a neutral rating for the company in a research report on Thursday, August 15th. Evercore ISI reaffirmed an in-line rating and set a $39.00 price target on shares of APA in a report on Thursday, September 12th. Bank of America reissued an underperform rating and issued a $31.00 price objective on shares of APA in a research note on Friday, June 14th. Sanford C. Bernstein lowered their price objective on shares of APA from $37.00 to $30.00 and set a market perform rating for the company in a research report on Wednesday, July 17th. Finally, Susquehanna reduced their target price on APA from $57.00 to $52.00 and set a positive rating on the stock in a report on Wednesday, September 4th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $36.38.

APA Stock Up 1.0 %

NASDAQ APA opened at $25.36 on Monday. 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 company has a market cap of $9.41 billion, a price-to-earnings ratio of 2.84 and a beta of 3.24. The company has a 50 day moving average of $28.48 and a 200-day moving average of $30.16. APA has a 1-year low of $22.72 and a 1-year high of $43.58.

APA (NASDAQ:APA) last announced its quarterly earnings data 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 firm had revenue of $2.54 billion during 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 company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. On average, equities research analysts expect that APA will post 4.34 earnings per share for the current fiscal year.

APA Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.94%. APA’s dividend payout ratio is currently 11.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in APA in the second quarter worth about $308,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of APA by 12.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 908,906 shares of the company’s stock worth $26,758,000 after purchasing an additional 100,160 shares during the period. Cetera Investment Advisers lifted its stake in APA by 160.1% in the second quarter. Cetera Investment Advisers now owns 75,593 shares of the company’s stock valued at $2,225,000 after purchasing an additional 46,535 shares during the last quarter. IMS Capital Management bought a new position in APA during the second quarter valued at $318,000. Finally, Truist Financial Corp grew its holdings in APA by 44.0% during the second quarter. Truist Financial Corp now owns 38,710 shares of the company’s stock valued at $1,140,000 after purchasing an additional 11,827 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.