APA (NASDAQ:APA) Given New $21.00 Price Target at Evercore ISI

APA (NASDAQ:APA) had its target price boosted by Evercore ISI from $16.00 to $21.00 in a research note released on Monday morning,MarketScreener reports.

Several other research analysts also recently weighed in on APA. Wells Fargo & Company upped their price target on shares of APA from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Cfra Research upgraded shares of APA to a “hold” rating in a report on Friday, August 8th. Stephens cut their price objective on shares of APA from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group increased their price objective on shares of APA from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Morgan Stanley cut their price objective on shares of APA from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.63.

APA Stock Down 2.1%

APA opened at $23.34 on Monday. APA has a twelve month low of $13.58 and a twelve month high of $25.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $23.24 and a 200 day moving average price of $19.93. The company has a market cap of $8.35 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 6.64 and a beta of 1.16.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. Sell-side analysts expect that APA will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.3%. APA’s dividend payout ratio is 33.44%.

Institutional Trading of APA

Several hedge funds have recently made changes to their positions in APA. Golden State Wealth Management LLC grew its stake in shares of APA by 2,709.8% in the 1st 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 period. TD Private Client Wealth LLC grew its stake in shares of APA by 144.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock valued at $34,000 after buying an additional 1,104 shares during the period. CVA Family Office LLC grew its stake in shares of APA by 6,096.7% in the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after buying an additional 1,829 shares during the period. Spire Wealth Management grew its stake in shares of APA by 179.6% in the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after buying an additional 977 shares during the period. Finally, MAI Capital Management grew its stake in shares of APA by 76.5% in the 2nd quarter. MAI Capital Management now owns 2,134 shares of the company’s stock valued at $39,000 after buying an additional 925 shares during the period. Hedge funds and other 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.