APA Co. (NASDAQ:APA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of APA Co. (NASDAQ:APAGet Rating) have received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $54.56.

APA has been the subject of several research reports. Piper Sandler lifted their target price on shares of APA from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, November 17th. StockNews.com downgraded shares of APA from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 5th. Truist Financial boosted their price target on shares of APA from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Royal Bank of Canada boosted their price target on shares of APA from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Monday, November 14th. Finally, Citigroup boosted their price target on shares of APA from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, November 14th.

APA Stock Down 0.0 %

APA stock opened at $45.34 on Friday. APA has a fifty-two week low of $27.98 and a fifty-two week high of $51.95. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50 day moving average price of $45.62 and a 200 day moving average price of $42.00. The company has a market capitalization of $14.58 billion, a PE ratio of 4.33, a price-to-earnings-growth ratio of 0.21 and a beta of 3.58.

APA (NASDAQ:APAGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.05. APA had a net margin of 33.83% and a return on equity of 325.67%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. Research analysts expect that APA will post 8.19 earnings per share for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 22nd. Investors of record on Monday, January 23rd will be given a $0.25 dividend. The ex-dividend date is Friday, January 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. APA’s dividend payout ratio (DPR) is presently 9.55%.

Institutional Investors Weigh In On APA

A number of institutional investors and hedge funds have recently bought and sold shares of APA. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in APA by 88.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 190,174 shares of the company’s stock valued at $6,637,000 after purchasing an additional 89,150 shares during the period. Bridgewater Associates LP increased its stake in APA by 3,836.7% in the second quarter. Bridgewater Associates LP now owns 674,995 shares of the company’s stock valued at $23,557,000 after purchasing an additional 657,849 shares during the period. Patten Group Inc. increased its stake in APA by 9.1% in the second quarter. Patten Group Inc. now owns 6,420 shares of the company’s stock valued at $222,000 after purchasing an additional 535 shares during the period. Ritholtz Wealth Management increased its stake in APA by 54.9% in the third quarter. Ritholtz Wealth Management now owns 64,403 shares of the company’s stock valued at $2,202,000 after purchasing an additional 22,829 shares during the period. Finally, Carnegie Capital Asset Management LLC increased its stake in APA by 4.2% in the third quarter. Carnegie Capital Asset Management LLC now owns 11,150 shares of the company’s stock valued at $381,000 after purchasing an additional 450 shares during the period. 80.79% of the stock is owned by hedge funds and other institutional investors.

APA Company Profile

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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Analyst Recommendations for APA (NASDAQ:APA)

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