APA (NASDAQ:APA) Price Target Lowered to $28.00 at Bernstein Bank

APA (NASDAQ:APA) had its price objective reduced by Bernstein Bank from $30.00 to $28.00 in a report released on Friday morning.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler lowered their price objective on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays lowered their price objective on shares of APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. The Goldman Sachs Group reduced their price target on shares of APA from $30.00 to $26.00 and set a “sell” rating for the company in a report on Monday, October 7th. Finally, Truist Financial boosted their price target on shares of APA from $34.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.18.

APA Stock Performance

Shares of NASDAQ:APA opened at $25.16 on Friday. APA has a 52 week low of $22.72 and a 52 week high of $43.58. The stock has a market capitalization of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23. The firm has a fifty day simple moving average of $26.43 and a two-hundred day simple moving average of $29.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 41.6% compared to the same quarter last year. On average, analysts expect that APA will post 3.97 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is currently 11.19%.

Institutional Trading of APA

Hedge funds have recently added to or reduced their stakes in the company. American National Bank boosted its holdings in APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares in the last quarter. Covestor Ltd raised its position in APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares during the period. Rothschild Investment LLC acquired a new position in APA during the second quarter worth $42,000. Finally, GPS Wealth Strategies Group LLC raised its position in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.