Barclays Trims APA (NASDAQ:APA) Target Price to $30.00

APA (NASDAQ:APA) had its target price lowered by Barclays from $35.00 to $30.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on APA. Wells Fargo & Company reduced their price target on APA from $49.00 to $47.00 and set an overweight rating on the stock in a report on Tuesday, October 1st. Citigroup decreased their target price on APA from $33.00 to $32.00 and set a neutral rating for the company in a report on Monday, September 9th. Sanford C. Bernstein dropped their price target on APA from $37.00 to $30.00 and set a market perform rating for the company in a research note on Wednesday, July 17th. 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, UBS Group dropped their target price on shares of APA from $35.00 to $29.00 and set a neutral rating for the company in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $35.19.

APA Trading Up 1.4 %

Shares of APA opened at $26.89 on Thursday. APA has a fifty-two week low of $22.72 and a fifty-two week high of $43.58. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 3.01 and a beta of 3.23. The firm has a 50 day moving average price of $27.06 and a 200-day moving average price of $29.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s quarterly revenue was up 41.6% on a year-over-year basis. As a group, equities research analysts forecast that APA will post 4.04 earnings per share for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.72%. APA’s payout ratio is 11.19%.

Institutional Investors Weigh In On APA

Institutional investors have recently added to or reduced their stakes in the stock. Sunpointe LLC increased its holdings in shares of APA by 2.8% in the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after purchasing an additional 362 shares during the last quarter. GAMMA Investing LLC increased its stake in APA by 12.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after acquiring an additional 380 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after acquiring an additional 429 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of APA by 0.9% during the 4th quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock worth $1,775,000 after acquiring an additional 436 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of APA by 18.1% during the 1st quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock valued at $98,000 after acquiring an additional 439 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other 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.