APA (NASDAQ:APA) Given New $31.00 Price Target at The Goldman Sachs Group

APA (NASDAQ:APA) had its price target reduced by The Goldman Sachs Group from $35.00 to $31.00 in a research note published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

A number of other analysts have also weighed in on APA. Truist Financial reiterated a buy rating and issued a $59.00 target price on shares of APA in a research note on Wednesday, March 20th. Scotiabank restated a sector perform rating and set a $37.00 price target (down previously from $43.00) on shares of APA in a research note on Tuesday, January 16th. Raymond James cut their price target on APA from $44.00 to $43.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 24th. Susquehanna cut their price target on APA from $53.00 to $50.00 and set a positive rating on the stock in a research note on Friday, January 26th. Finally, Mizuho dropped their price objective on APA from $36.00 to $34.00 and set an underperform rating on the stock in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $43.61.

APA Trading Up 2.0 %

APA stock opened at $34.38 on Tuesday. The business has a 50-day simple moving average of $31.41 and a two-hundred day simple moving average of $35.45. APA has a 52-week low of $29.47 and a 52-week high of $46.15. The company has a market cap of $10.38 billion, a P/E ratio of 3.70 and a beta of 3.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41.

APA (NASDAQ:APA) last released its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a return on equity of 62.64% and a net margin of 34.95%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business earned $1.48 EPS. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. Analysts predict that APA will post 4.24 EPS for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, April 19th. APA’s dividend payout ratio is presently 10.78%.

Institutional Investors Weigh In On APA

Several institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new stake in APA in the fourth quarter worth about $102,000. Nomura Holdings Inc. lifted its holdings in shares of APA by 171.4% during the fourth quarter. Nomura Holdings Inc. now owns 9,848 shares of the company’s stock worth $353,000 after purchasing an additional 23,648 shares during the period. HighPoint Advisor Group LLC acquired a new stake in shares of APA during the fourth quarter worth about $454,000. PNC Financial Services Group Inc. lifted its holdings in shares of APA by 7.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 41,648 shares of the company’s stock worth $1,494,000 after purchasing an additional 2,787 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of APA by 340.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 125,072 shares of the company’s stock worth $4,488,000 after purchasing an additional 96,672 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Company Profile

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.