APA Corporation (NASDAQ:APA) Receives $26.35 Consensus Price Target from Analysts

Shares of APA Corporation (NASDAQ:APA) have received an average recommendation of “Hold” from the twenty-eight brokerages that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $26.3478.

A number of analysts have recently weighed in on the company. Susquehanna increased their price target on APA from $30.00 to $32.00 and gave the stock a “positive” rating in a research report on Wednesday, November 12th. Evercore lowered their price objective on APA from $21.00 to $16.00 in a research note on Tuesday, November 4th. Raymond James Financial reiterated an “outperform” rating and issued a $31.00 target price on shares of APA in a research note on Monday, November 24th. Jefferies Financial Group boosted their price target on shares of APA from $21.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Finally, Mizuho upped their price target on shares of APA from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Friday, December 12th.

APA Price Performance

Shares of NASDAQ:APA opened at $27.92 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. APA has a fifty-two week low of $13.58 and a fifty-two week high of $28.56. The firm has a 50-day simple moving average of $25.59 and a 200 day simple moving average of $23.89. The company has a market cap of $9.90 billion, a PE ratio of 6.71, a P/E/G ratio of 12.76 and a beta of 0.74.

APA Dividend Announcement

The company also recently announced 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 is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 3.6%. APA’s dividend payout ratio is 24.04%.

Hedge Funds Weigh In On APA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators increased its position in APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after acquiring an additional 891 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of APA in the third quarter worth $34,000. Camelot Portfolios LLC acquired a new position in shares of APA during the fourth quarter valued at $37,000. Spire Wealth Management increased its holdings in shares of APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after purchasing an additional 977 shares during the period. Finally, Community Bank N.A. bought a new stake in shares of APA during the third quarter valued at about $43,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.