Mizuho Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target increased by Mizuho from $24.00 to $29.00 in a research note released on Tuesday,Benzinga reports. They currently have an underperform rating on the stock.

APA has been the topic of a number of other reports. Stephens increased their target price on shares of APA from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 17th. Roth Mkm upped their price objective on shares of APA from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. raised their price objective on APA from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Morgan Stanley cut their target price on APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Friday, January 23rd. Finally, Royal Bank Of Canada boosted their target price on APA from $26.00 to $29.00 and gave the company a “sector perform” rating in a report on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.16.

APA Stock Up 3.9%

APA stock opened at $35.87 on Tuesday. APA has a 1-year low of $13.58 and a 1-year high of $36.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $12.67 billion, a PE ratio of 8.99, a P/E/G ratio of 17.04 and a beta of 0.67. The stock’s fifty day moving average is $28.32 and its two-hundred day moving average is $25.56.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The business’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. On average, sell-side analysts expect that APA will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 2.8%. APA’s dividend payout ratio (DPR) is 25.06%.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently modified their holdings of APA. Rockefeller Capital Management L.P. grew its position in APA by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock valued at $2,609,000 after acquiring an additional 375 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after purchasing an additional 396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after purchasing an additional 461 shares in the last quarter. Howard Capital Management Inc. boosted its stake in shares of APA by 0.5% in the third quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock valued at $2,303,000 after purchasing an additional 485 shares during the period. Finally, one8zero8 LLC grew its holdings in APA by 1.2% during the 3rd quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock valued at $1,026,000 after purchasing an additional 488 shares in the last quarter. Hedge funds and other institutional investors 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.