APA (NASDAQ:APA) Price Target Raised to $35.00 at Piper Sandler

APA (NASDAQ:APA) had its target price upped by Piper Sandler from $33.00 to $35.00 in a report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently commented on APA. Roth Mkm increased their target price on APA from $37.00 to $39.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Scotiabank restated a sector perform rating and set a $37.00 target price (down previously from $43.00) on shares of APA in a report on Tuesday, January 16th. Royal Bank of Canada restated a sector perform rating and set a $45.00 target price on shares of APA in a report on Monday, April 8th. Susquehanna decreased their target price on APA from $53.00 to $50.00 and set a positive rating on the stock in a report on Friday, January 26th. Finally, Truist Financial decreased their target price on APA from $59.00 to $53.00 and set a buy rating on the stock in a report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, APA has a consensus rating of Hold and an average price target of $41.90.

APA Stock Performance

APA stock opened at $32.36 on Friday. 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 stock has a fifty day moving average price of $32.37 and a two-hundred day moving average price of $34.67. 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 P/E ratio of 3.49 and a beta of 3.27.

APA (NASDAQ:APA) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The business’s revenue was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. As a group, analysts anticipate that APA will post 4.85 EPS for the current fiscal year.

APA Dividend Announcement

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

Institutional Investors Weigh In On APA

Hedge funds have recently modified their holdings of the business. American National Bank raised its position in shares of APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Covestor Ltd raised its position in APA by 117.8% in the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after buying an additional 437 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in APA in the 3rd quarter valued at approximately $34,000. Quent Capital LLC raised its position in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after buying an additional 375 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in APA in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

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.