APA (NASDAQ:APA) Price Target Lowered to $45.00 at Susquehanna

APA (NASDAQ:APA) had its price objective reduced by Susquehanna from $47.00 to $45.00 in a research report released on Tuesday, Marketbeat reports. Susquehanna currently has a positive rating on the stock.

Other analysts have also recently issued research reports about the stock. Raymond James Financial lowered their price objective on shares of APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. UBS Group reduced their target price on APA from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. BMO Capital Markets decreased their target price on APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research note on Wednesday, May 13th. Capital One Financial increased their price target on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Mizuho raised their price target on APA from $32.00 to $36.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.35.

APA Stock Up 2.7%

Shares of NASDAQ APA opened at $35.77 on Tuesday. APA has a 52-week low of $17.86 and a 52-week high of $45.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $12.64 billion, a P/E ratio of 8.34 and a beta of 0.35. The firm has a 50 day moving average price of $35.65 and a 200 day moving average price of $33.74.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.27. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period last year, the business posted $1.06 earnings per share. Analysts expect that APA will post 5 EPS for the current year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 2.8%. APA’s payout ratio is presently 23.31%.

Insiders Place Their Bets

In other news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at $2,675,072.40. This trade represents a 12.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of APA

A number of institutional investors have recently made changes to their positions in APA. Hollencrest Capital Management boosted its holdings in APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in APA in the 1st quarter valued at $28,000. Summit Securities Group LLC lifted its position 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 buying an additional 710 shares in the last quarter. Camelot Portfolios LLC bought a new stake in APA during the 4th quarter worth about $37,000. Finally, Global Assets Advisory LLC bought a new stake in APA during the 1st quarter worth about $44,000. Institutional investors own 83.01% of the company’s stock.

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.