APA (NASDAQ:APA) Price Target Lowered to $36.00 at Wolfe Research

APA (NASDAQ:APA) had its price objective decreased by Wolfe Research from $37.00 to $36.00 in a report published on Monday morning,MarketScreener reports. Wolfe Research currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on APA. Raymond James Financial restated an “outperform” rating and set a $31.00 target price on shares of APA in a report on Monday, November 24th. JPMorgan Chase & Co. lowered their price objective on shares of APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. BMO Capital Markets increased their price objective on shares of APA from $28.00 to $30.00 and gave the company a “market perform” rating in a research report on Monday, October 13th. Roth Capital boosted their price objective on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Susquehanna upped their price target on shares of APA from $30.00 to $32.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.64.

APA Trading Down 0.5%

NASDAQ APA opened at $24.36 on Monday. APA has a 12 month low of $13.58 and a 12 month high of $27.72. The stock has a market capitalization of $8.64 billion, a P/E ratio of 5.86, a PEG ratio of 10.23 and a beta of 0.74. The firm’s 50-day moving average is $24.47 and its two-hundred day moving average is $22.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. APA had a net margin of 15.49% and a return on equity of 19.86%. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. On average, sell-side analysts anticipate that APA will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Stockholders of record on Thursday, January 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. APA’s dividend payout ratio is currently 24.04%.

Institutional Investors Weigh In On APA

A number of institutional investors have recently bought and sold shares of APA. Deseret Mutual Benefit Administrators raised its stake in APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares during the period. TD Private Client Wealth LLC raised its position in shares of APA by 144.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after buying an additional 1,104 shares during the period. CVA Family Office LLC raised its position in shares of APA by 6,096.7% in the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after buying an additional 1,829 shares during the period. Atlantic Union Bankshares Corp acquired a new position in APA in the third quarter valued at $34,000. Finally, Spire Wealth Management grew its position in APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after acquiring an additional 977 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

About APA

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.