APA (NASDAQ:APA) Downgraded to Outperform Rating by Raymond James

Raymond James cut shares of APA (NASDAQ:APA) from a strong-buy rating to an outperform rating in a research note released on Monday morning, Marketbeat reports. Raymond James currently has $32.00 price objective on the stock, down from their previous price objective of $45.00.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of APA in a report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, January 3rd. Susquehanna cut their price objective on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company lowered shares of APA from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.15.

APA Trading Up 2.3 %

NASDAQ APA opened at $19.65 on Monday. The company has a fifty day simple moving average of $22.45 and a two-hundred day simple moving average of $23.46. The stock has a market cap of $7.15 billion, a P/E ratio of 2.78 and a beta of 3.26. APA has a 12-month low of $17.66 and a 12-month high of $36.05. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. On average, analysts forecast that APA will post 4.03 earnings per share for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 5.09%. APA’s dividend payout ratio is presently 44.25%.

Institutional Trading of APA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Siemens Fonds Invest GmbH purchased a new position in APA during the fourth quarter valued at $42,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in APA during the fourth quarter valued at $1,721,000. Jefferies Financial Group Inc. lifted its holdings in APA by 459.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 53,538 shares of the company’s stock valued at $1,236,000 after purchasing an additional 43,974 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in APA during the fourth quarter valued at $2,612,000. Finally, CTC Alternative Strategies Ltd. purchased a new position in APA during the fourth quarter valued at $204,000. Institutional investors and hedge funds 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.