APA (NASDAQ:APA) Upgraded at StockNews.com

StockNews.com upgraded shares of APA (NASDAQ:APA) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other analysts have also weighed in on APA. Morgan Stanley reiterated an underweight rating and set a $28.00 target price on shares of APA in a research report on Monday, April 15th. The Goldman Sachs Group decreased their target price on shares of APA from $35.00 to $31.00 and set a sell rating on the stock in a research report on Tuesday, March 26th. Piper Sandler lifted their target price on shares of APA from $33.00 to $35.00 and gave the company a neutral rating in a research report on Friday, April 19th. Scotiabank reissued a sector perform rating and set a $37.00 price target (down from $43.00) on shares of APA in a report on Tuesday, January 16th. Finally, Susquehanna lifted their price target on shares of APA from $50.00 to $54.00 and gave the company a positive rating in a report on Monday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $42.25.

APA Stock Performance

NASDAQ APA opened at $32.36 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The company’s fifty day moving average is $32.53 and its two-hundred day moving average is $34.50. APA has a 52-week low of $29.47 and a 52-week high of $46.15. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 3.49 and a beta of 3.27.

APA (NASDAQ:APA) last issued its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm posted $1.48 earnings per share. APA’s revenue was down 12.3% on a year-over-year basis. Equities research analysts forecast that APA will post 5.03 EPS for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 3.09%. APA’s dividend payout ratio is currently 10.78%.

Hedge Funds Weigh In On APA

Several large investors have recently bought and sold shares of the business. Triton Wealth Management PLLC lifted its holdings in APA by 1.6% in the first quarter. Triton Wealth Management PLLC now owns 28,943 shares of the company’s stock valued at $922,000 after buying an additional 449 shares during the period. New York State Teachers Retirement System lifted its holdings in APA by 6.0% in the first quarter. New York State Teachers Retirement System now owns 346,358 shares of the company’s stock valued at $11,908,000 after buying an additional 19,743 shares during the period. Valeo Financial Advisors LLC increased its stake in APA by 93.9% in the first quarter. Valeo Financial Advisors LLC now owns 15,535 shares of the company’s stock valued at $498,000 after purchasing an additional 7,523 shares in the last quarter. V Square Quantitative Management LLC increased its stake in APA by 63.6% in the first quarter. V Square Quantitative Management LLC now owns 7,204 shares of the company’s stock valued at $248,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in APA by 49.1% in the first quarter. Newbridge Financial Services Group Inc. now owns 4,250 shares of the company’s stock valued at $146,000 after purchasing an additional 1,400 shares in the last quarter. 83.01% of the stock is currently 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.