APA Co. (NASDAQ:APA) Receives Average Rating of “Moderate Buy” from Analysts

APA Co. (NASDAQ:APA – Get Rating) has been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $46.88.

A number of equities research analysts have recently weighed in on APA shares. Bank of America cut their price target on APA from $60.00 to $57.00 in a report on Thursday, May 4th. Citigroup boosted their target price on APA from $42.00 to $43.00 in a report on Tuesday, April 25th. Piper Sandler dropped their target price on APA from $45.00 to $39.00 in a report on Thursday, May 18th. TheStreet raised APA from a “c” rating to a “b-” rating in a report on Thursday, February 23rd. Finally, The Goldman Sachs Group boosted their target price on APA from $33.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, April 21st.

Hedge Funds Weigh In On APA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its position in APA by 110.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 561 shares of the company’s stock worth $26,000 after purchasing an additional 295 shares in the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of APA during the 4th quarter valued at $30,000. Covestor Ltd grew its holdings in shares of APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after acquiring an additional 437 shares in the last quarter. Achmea Investment Management B.V. grew its holdings in shares of APA by 100.0% during the 4th quarter. Achmea Investment Management B.V. now owns 784 shares of the company’s stock valued at $34,000 after acquiring an additional 392 shares in the last quarter. Finally, Money Concepts Capital Corp grew its holdings in shares of APA by 228.6% during the 4th quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock valued at $34,000 after acquiring an additional 503 shares in the last quarter. 80.79% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Performance

APA opened at $33.30 on Friday. The business’s 50 day moving average is $35.44 and its 200-day moving average is $38.90. The stock has a market cap of $10.28 billion, a PE ratio of 5.41, a price-to-earnings-growth ratio of 6.05 and a beta of 3.53. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 4.04. APA has a twelve month low of $30.15 and a twelve month high of $51.95.

APA (NASDAQ:APA – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.84 billion. APA had a return on equity of 158.38% and a net margin of 19.72%. The business’s revenue for the quarter was down 47.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.92 earnings per share. On average, analysts predict that APA will post 4.71 earnings per share for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.00%. The ex-dividend date is Thursday, July 20th. APA’s payout ratio is 16.26%.

APA Company Profile

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APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the United States, Egypt and the United Kingdom, and exploration activities offshore in Suriname. The company was founded in 1954 and is headquartered in Houston, TX.