Susquehanna Cuts APA (NASDAQ:APA) Price Target to $45.00

APA (NASDAQ:APAFree Report) had its price target trimmed by Susquehanna from $47.00 to $45.00 in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a positive rating on the stock.

Several other analysts have also recently weighed in on the company. Morgan Stanley reduced their price target on APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, June 26th. Truist Financial dropped their price objective on shares of APA from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, July 10th. Weiss Ratings downgraded shares of APA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group boosted their target price on shares of APA from $26.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 13th. Finally, Wolfe Research upped their price target on shares of APA from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Eight investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.35.

View Our Latest Stock Report on APA

APA Stock Up 0.7%

Shares of APA opened at $36.42 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. APA has a 52 week low of $17.86 and a 52 week high of $45.66. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 8.49 and a beta of 0.35. The stock has a fifty day moving average of $35.62 and a 200-day moving average of $33.90.

APA (NASDAQ:APAGet Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company posted $1.06 EPS. APA’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that APA will post 4.92 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, August 21st. Stockholders of record on Wednesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. APA’s dividend payout ratio is presently 23.31%.

Insider Activity

In other news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares in the company, valued at $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by company insiders.

Institutional Trading of APA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APA. Hollencrest Capital Management lifted its position in shares of APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new stake in shares of APA during the first quarter worth $28,000. Summit Securities Group LLC raised its stake in APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after buying an additional 710 shares during the last quarter. Camelot Portfolios LLC bought a new position in APA during the fourth quarter worth $37,000. Finally, Global Assets Advisory LLC acquired a new position in APA in the first quarter valued at $44,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Key Stories Impacting APA

Here are the key news stories impacting APA this week:

About APA

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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.

Further Reading

Analyst Recommendations for APA (NASDAQ:APA)

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