APA (NASDAQ:APA) Price Target Cut to $32.00

APA (NASDAQ:APA) had its target price cut by Mizuho from $34.00 to $32.00 in a research report released on Thursday morning, Benzinga reports. They currently have an underperform rating on the stock.

APA has been the subject of a number of other reports. Morgan Stanley reissued an underweight rating and issued a $28.00 price objective on shares of APA in a research note on Monday, April 15th. Raymond James decreased their price target on APA from $44.00 to $43.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $45.00 price objective on shares of APA in a research note on Monday, April 8th. Barclays assumed coverage on APA in a research report on Wednesday, April 10th. They set an equal weight rating and a $40.00 target price for the company. Finally, Johnson Rice cut APA from a buy rating to a hold rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given 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 price target of $42.05.

APA Price Performance

NASDAQ APA opened at $29.26 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.16. The business’s fifty day moving average is $32.52 and its 200 day moving average is $34.07. The company has a market capitalization of $8.81 billion, a PE ratio of 3.27 and a beta of 3.29. APA has a fifty-two week low of $28.90 and a fifty-two week high of $46.15.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share. Sell-side analysts predict that APA will post 5.03 earnings per share for the current year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.42%. APA’s payout ratio is currently 11.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of APA by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 42,643,529 shares of the company’s stock worth $1,530,050,000 after purchasing an additional 924,400 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after buying an additional 1,938,335 shares in the last quarter. Harris Associates L P raised its position in shares of APA by 17.8% in the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after acquiring an additional 2,367,570 shares during the period. Smead Capital Management Inc. boosted its stake in shares of APA by 13.6% during the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock worth $187,866,000 after acquiring an additional 626,460 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of APA by 1.9% during the 3rd quarter. Clearbridge Investments LLC now owns 2,815,109 shares of the company’s stock valued at $115,701,000 after acquiring an additional 53,241 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.