UBS Group Trims APA (NASDAQ:APA) Target Price to $29.00

APA (NASDAQ:APA) had its price objective decreased by UBS Group from $35.00 to $29.00 in a research report released on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their target price on APA from $36.00 to $27.00 and set a neutral rating for the company in a research report on Thursday, September 12th. Susquehanna reduced their price objective on APA from $57.00 to $52.00 and set a positive rating for the company in a research report on Wednesday, September 4th. Wolfe Research initiated coverage on APA in a research report on Thursday, July 18th. They set an outperform rating and a $42.00 price objective for the company. Bank of America reissued an underperform rating and set a $31.00 price objective on shares of APA in a research report on Friday, June 14th. Finally, Evercore ISI reissued an in-line rating and set a $39.00 price objective on shares of APA in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, APA has an average rating of Hold and a consensus price target of $36.38.

APA Stock Performance

Shares of APA stock opened at $25.07 on Wednesday. The stock has a market cap of $9.31 billion, a PE ratio of 2.80 and a beta of 3.24. The business has a fifty day simple moving average of $28.39 and a 200-day simple moving average of $30.13. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. APA has a 12 month low of $22.72 and a 12 month high of $43.58.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. On average, sell-side analysts anticipate that APA will post 4.34 EPS for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 3.99%. APA’s dividend payout ratio is 11.19%.

Institutional Investors Weigh In On APA

Several large investors have recently modified their holdings of APA. Principal Securities Inc. bought a new stake in shares of APA in the 4th quarter valued at approximately $39,000. Dimensional Fund Advisors LP boosted its holdings in shares of APA by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock worth $66,093,000 after acquiring an additional 345,192 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of APA by 24.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,830 shares of the company’s stock worth $173,000 after acquiring an additional 955 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of APA by 66.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,008 shares of the company’s stock worth $216,000 after acquiring an additional 2,403 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of APA by 7.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 41,648 shares of the company’s stock worth $1,494,000 after acquiring an additional 2,787 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.