APA Corporation (NASDAQ:APA) Receives Average Recommendation of “Hold” from Analysts

APA Corporation (NASDAQ:APA) has received an average recommendation of “Hold” from the twenty-eight brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $26.3478.

A number of analysts recently issued reports on APA shares. Wolfe Research reissued an “outperform” rating and set a $35.00 target price on shares of APA in a research note on Wednesday, January 21st. Roth Mkm increased their price objective on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Mizuho raised their price objective on shares of APA from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Friday, December 12th. TD Cowen raised shares of APA to a “hold” rating in a research note on Monday. Finally, The Goldman Sachs Group increased their target price on APA from $21.00 to $23.00 and gave the stock a “sell” rating in a report on Thursday, January 22nd.

APA Price Performance

APA opened at $28.26 on Thursday. The stock has a market cap of $10.02 billion, a P/E ratio of 6.79, a P/E/G ratio of 12.55 and a beta of 0.74. APA has a 12 month low of $13.58 and a 12 month high of $28.56. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $25.57 and a 200 day simple moving average of $23.78.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s dividend payout ratio (DPR) is currently 24.04%.

Hedge Funds Weigh In On APA

A number of large investors have recently bought and sold shares of the company. Deseret Mutual Benefit Administrators lifted its position in shares of APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares in the last quarter. CVA Family Office LLC grew its position in APA by 6,096.7% in the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after purchasing an additional 1,829 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in APA in the 3rd quarter valued at $34,000. Spire Wealth Management lifted its position in APA by 179.6% during the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after buying an additional 977 shares in the last quarter. Finally, Camelot Portfolios LLC bought a new stake in APA during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.