Evercore ISI Cuts APA (NASDAQ:APA) Price Target to $33.00

APA (NASDAQ:APA) had its price objective decreased by Evercore ISI from $39.00 to $33.00 in a research report released on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

APA has been the topic of a number of other research reports. Piper Sandler dropped their price objective on shares of APA from $34.00 to $29.00 and set a neutral rating on the stock in a report on Thursday, August 15th. Mizuho lowered their price target on shares of APA from $35.00 to $28.00 and set an underperform rating on the stock in a report on Monday, September 16th. Susquehanna lowered their price target on shares of APA from $57.00 to $52.00 and set a positive rating on the stock in a report on Wednesday, September 4th. UBS Group lowered their price target on shares of APA from $35.00 to $29.00 and set a neutral rating on the stock in a report on Wednesday, September 18th. Finally, Bank of America reaffirmed an underperform rating and set a $31.00 price target on shares of APA in a report on Friday, June 14th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, APA has an average rating of Hold and an average target price of $35.19.

APA Stock Performance

Shares of NASDAQ APA opened at $26.53 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market cap of $9.85 billion, a PE ratio of 2.98 and a beta of 3.24. The firm’s 50-day moving average price is $27.24 and its 200-day moving average price is $29.72. APA has a 52-week low of $22.72 and a 52-week high of $43.58.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’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. As a group, analysts anticipate that APA will post 4.04 EPS for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.77%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is presently 11.19%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares during the last quarter. Wealthquest Corp boosted its stake in shares of APA by 21.7% during the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after purchasing an additional 27,513 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after purchasing an additional 1,938,335 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of APA by 18.5% during the first quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares during the period. Finally, Ellis Investment Partners LLC purchased a new stake in shares of APA during the second quarter valued at $2,499,000. Institutional investors own 83.01% of the company’s stock.

About APA

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.