Jefferies Financial Group Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target boosted by Jefferies Financial Group from $26.00 to $36.00 in a report issued on Monday,MarketScreener reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other research firms have also commented on APA. Truist Financial began coverage on shares of APA in a research note on Tuesday, March 24th. They set a “hold” rating and a $38.00 price objective for the company. Wolfe Research increased their target price on shares of APA from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. raised their target price on shares of APA from $29.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, March 20th. Scotiabank raised shares of APA to a “hold” rating in a research note on Friday, March 27th. Finally, Piper Sandler upped their price target on shares of APA from $30.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, APA has a consensus rating of “Hold” and a consensus target price of $38.08.

APA Trading Up 2.2%

Shares of APA stock opened at $39.49 on Monday. The company has a market cap of $13.95 billion, a PE ratio of 9.90 and a beta of 0.49. APA has a 1 year low of $14.81 and a 1 year high of $45.66. The stock’s 50 day simple moving average is $34.07 and its two-hundred day simple moving average is $27.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The company’s quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. Research analysts predict that APA will post 4.03 earnings per share for the current year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s dividend payout ratio (DPR) is currently 25.06%.

Insiders Place Their Bets

In other APA news, Director Matthew Regis Bob sold 23,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director directly owned 6,634 shares of the company’s stock, valued at $240,349.82. The trade was a 77.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is owned by insiders.

Institutional Trading of APA

Several institutional investors and hedge funds have recently modified their holdings of APA. Deseret Mutual Benefit Administrators boosted its holdings 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 valued at $29,000 after purchasing an additional 891 shares during the period. Summit Securities Group LLC increased its holdings in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after purchasing an additional 710 shares during the period. Atlantic Union Bankshares Corp bought a new stake in APA during the 3rd quarter valued at $34,000. Camelot Portfolios LLC bought a new stake in APA during the 4th quarter valued at $37,000. Finally, Spire Wealth Management lifted its holdings in shares of APA by 179.6% in 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 during the period. 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.