APA (NASDAQ:APA) Given New $29.00 Price Target at UBS Group

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

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada restated a sector perform rating and set a $41.00 price objective on shares of APA in a report on Tuesday, September 17th. Truist Financial upped their price objective on shares of APA from $45.00 to $46.00 and gave the company a buy rating in a report on Friday, August 2nd. Bank of America reiterated an underperform rating and issued a $31.00 price target on shares of APA in a report on Friday, June 14th. Piper Sandler cut their price target on shares of APA from $34.00 to $29.00 and set a neutral rating on the stock in a report on Thursday, August 15th. Finally, Susquehanna cut their price target 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. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, APA presently has a consensus rating of Hold and a consensus target price of $36.38.

APA Stock Down 1.1 %

NASDAQ:APA opened at $25.07 on Wednesday. The firm has a market cap of $9.31 billion, a PE ratio of 2.80 and a beta of 3.24. 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 company has a 50-day moving average of $28.29 and a 200 day moving average of $30.09. APA has a 1-year low of $22.72 and a 1-year high of $43.58.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’s revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, research analysts anticipate that APA will post 4.34 EPS for the current fiscal year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.99%. APA’s payout ratio is currently 11.19%.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently modified their holdings of APA. American National Bank increased its stake in shares of APA by 208.5% in 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 last quarter. Covestor Ltd increased its stake in shares of APA by 75.4% in 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 last quarter. Principal Securities Inc. acquired a new stake in shares of APA in the 4th quarter worth $39,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of APA by 386.7% in 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 last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of APA in the 2nd quarter worth $42,000. 83.01% of the stock is owned by institutional investors and hedge funds.

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.