APA (NASDAQ:APA) Given New $39.00 Price Target at Truist Financial

APA (NASDAQ:APA) had its target price hoisted by Truist Financial from $38.00 to $39.00 in a report issued on Monday, Marketbeat reports. Truist Financial currently has a hold rating on the stock.

Several other research firms have also commented on APA. Scotiabank raised APA to a “hold” rating in a research report on Friday, March 27th. Barclays raised APA from an “underweight” rating to an “equal weight” rating and set a $35.00 target price for the company in a research report on Monday, March 23rd. Susquehanna increased their target price on APA from $32.00 to $37.00 and gave the company a “positive” rating in a research note on Tuesday, March 3rd. Benchmark boosted their price target on APA from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Piper Sandler boosted their price target on APA from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.69.

APA Price Performance

APA opened at $35.97 on Monday. APA has a 52-week low of $15.15 and a 52-week high of $45.66. The company has a 50 day moving average of $35.03 and a two-hundred day moving average of $28.32. The company has a market cap of $12.71 billion, a P/E ratio of 9.02 and a beta of 0.49. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61.

APA (NASDAQ:APA) last issued 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. APA had a net margin of 15.55% and a return on equity of 19.89%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $0.79 EPS. The business’s revenue for the quarter was down 26.6% compared to the same quarter last year. On average, analysts expect that APA will post 4.31 earnings per share for the current year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 2.8%. APA’s payout ratio is currently 25.06%.

Insider Activity

In other news, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the transaction, the director directly owned 6,634 shares in the company, valued at approximately $240,349.82. This represents a 77.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of APA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. United Capital Management of KS Inc. acquired a new position in APA in the third quarter worth about $1,214,000. Allspring Global Investments Holdings LLC raised its stake in APA by 869.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock valued at $4,872,000 after buying an additional 174,369 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in APA during the third quarter valued at approximately $2,337,000. AE Wealth Management LLC lifted its holdings in APA by 2,049.4% during the 3rd quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock worth $9,797,000 after buying an additional 384,738 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new position in APA during the 3rd quarter worth approximately $1,828,000. 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.