Sanford C. Bernstein Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target boosted by Sanford C. Bernstein from $25.00 to $37.00 in a report published on Monday,MarketScreener reports. They currently have a market perform rating on the stock.

Several other research firms have also commented on APA. Morgan Stanley boosted their price objective on shares of APA from $22.00 to $43.00 and gave the stock an “underweight” rating in a research note on Friday, March 27th. Scotiabank raised shares of APA to a “hold” rating in a research note on Friday, March 27th. Zacks Research upgraded shares of APA from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Evercore boosted their price target on APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 24th. Finally, Raymond James Financial upped their price target on APA from $31.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Seven equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.08.

APA Price Performance

APA opened at $39.49 on Monday. The stock has a fifty day simple moving average of $34.07 and a two-hundred day simple moving average of $27.89. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 9.90 and a beta of 0.49. APA has a 12-month low of $14.81 and a 12-month high of $45.66.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.89 billion. APA had a net margin of 15.55% and a return on equity of 19.89%. 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 posted $0.79 EPS. Research analysts predict that APA will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. APA’s dividend payout ratio is 25.06%.

Insider Transactions at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the sale, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On APA

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in APA by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after acquiring an additional 2,070 shares during the last quarter. NewEdge Advisors LLC boosted its position in APA by 49.6% in the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after purchasing an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in APA by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after purchasing an additional 806,252 shares during the last quarter. Focus Partners Wealth grew its stake in shares of APA by 10.6% during the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after purchasing an additional 4,297 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of APA during the 2nd quarter valued at about $5,199,000. 83.01% of the stock is owned by institutional investors.

About APA

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.