APA (NASDAQ:APA) Downgraded by Roth Capital to “Neutral”

Roth Capital cut shares of APA (NASDAQ:APA) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Roth Capital currently has $22.00 price target on the stock.

A number of other equities research analysts have also commented on the stock. Susquehanna lowered their price target on shares of APA from $31.00 to $30.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Argus upgraded shares of APA to a “hold” rating in a research report on Friday, May 16th. Piper Sandler increased their target price on shares of APA from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. UBS Group reissued a “neutral” rating and issued a $19.00 target price (up from $18.00) on shares of APA in a research note on Monday, July 14th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of APA in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average price target of $23.50.

APA Trading Up 0.6%

NASDAQ APA opened at $20.56 on Wednesday. The firm has a market cap of $7.36 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 6.36 and a beta of 1.23. APA has a 1-year low of $13.58 and a 1-year high of $29.88. The stock has a 50-day moving average of $19.31 and a 200-day moving average of $19.04. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. As a group, sell-side analysts forecast that APA will post 4.03 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA’s dividend payout ratio (DPR) is 33.44%.

Institutional Investors Weigh In On APA

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of APA by 3,303.0% during the first quarter. GAMMA Investing LLC now owns 268,194 shares of the company’s stock valued at $5,637,000 after purchasing an additional 260,313 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of APA by 14.5% in the 1st quarter. Fifth Third Bancorp now owns 26,137 shares of the company’s stock worth $549,000 after buying an additional 3,306 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in APA by 11.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 207,210 shares of the company’s stock valued at $4,378,000 after buying an additional 21,630 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in APA by 34.2% during the first quarter. Envestnet Asset Management Inc. now owns 269,512 shares of the company’s stock valued at $5,665,000 after buying an additional 68,725 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $30,000 after buying an additional 1,382 shares during the last quarter. Institutional investors 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.