APA (NASDAQ:APA) Price Target Raised to $49.00

by · The Cerbat Gem

APA (NASDAQ:APA – Free Report) had its target price raised by Royal Bank Of Canada from $47.00 to $49.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other research firms also recently weighed in on APA. Stephens restated an “equal weight” rating and set a $49.00 price target on shares of APA in a research report on Friday, October 9th. Seaport Research Partners initiated coverage on APA in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. Benchmark upped their price objective on APA from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Mizuho upped their price objective on APA from $36.00 to $44.00 and gave the stock an “underperform” rating in a report on Thursday. Finally, Argus upgraded APA from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.38.

Get Our Latest Analysis on APA

APA Stock Performance

APA stock opened at $49.15 on Thursday. APA has a fifty-two week low of $21.63 and a fifty-two week high of $49.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $17.22 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.82 and a beta of 0.42. The firm’s fifty day moving average price is $43.72 and its 200-day moving average price is $39.24.

APA (NASDAQ:APA – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the firm posted $0.87 earnings per share. On average, equities research analysts expect that APA will post 6.00 earnings per share for the current fiscal year.

APA announced that its Board of Directors has initiated a share buyback plan on Wednesday, September 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, October 22nd. APA’s payout ratio is presently 21.14%.

Hedge Funds Weigh In On APA

Several institutional investors and hedge funds have recently made changes to their positions in APA. Hollencrest Capital Management raised its position in APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC bought a new stake in APA in the first quarter worth $28,000. Compass Financial Management LLC purchased a new stake in APA during the second quarter valued at about $33,000. MidFirst Bank purchased a new stake in APA during the second quarter valued at about $33,000. Finally, Global Assets Advisory LLC purchased a new stake in APA during the first quarter valued at about $44,000. Institutional investors own 83.01% of the company’s stock.

APA Company Profile

(Get Free Report)

APA Corporation (NASDAQ:APA) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying prospective resources, drilling and completing wells, and managing producing assets across multiple international markets.

APA’s operations have historically been concentrated in the Permian Basin of the United States and in Egypt’s Western Desert, where it participates in exploration and production activities through joint ventures.

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