APA (NASDAQ:APA) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of APA (NASDAQ:APA) in a research note released on Wednesday, Benzinga reports. They currently have a $41.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Susquehanna upped their price objective on shares of APA from $54.00 to $57.00 and gave the company a positive rating in a research note on Tuesday, May 7th. The Goldman Sachs Group lowered their price objective on APA from $35.00 to $31.00 and set a sell rating for the company in a research report on Tuesday, March 26th. Wells Fargo & Company cut their target price on APA from $53.00 to $52.00 and set an overweight rating on the stock in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their target price on APA from $38.00 to $40.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Finally, StockNews.com lowered APA from a buy rating to a hold rating in a research note on Friday, May 10th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, APA presently has an average rating of Hold and an average target price of $39.95.

APA Stock Up 0.6 %

Shares of NASDAQ:APA opened at $29.97 on Wednesday. APA has a 52-week low of $27.17 and a 52-week high of $46.15. The company has a market capitalization of $11.12 billion, a PE ratio of 3.35, a price-to-earnings-growth ratio of 0.34 and a beta of 3.26. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The company has a fifty day moving average of $29.45 and a 200-day moving average of $31.35.

APA (NASDAQ:APA) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a net margin of 34.04% and a return on equity of 45.32%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company earned $1.19 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts predict that APA will post 4.54 EPS for the current fiscal year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio is currently 11.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of APA. DNB Asset Management AS increased its position in shares of APA by 0.6% during the fourth quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock valued at $1,788,000 after buying an additional 308 shares during the period. HB Wealth Management LLC grew its stake in APA by 5.0% during the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock valued at $234,000 after acquiring an additional 309 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in APA by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock worth $898,000 after acquiring an additional 358 shares during the period. Quent Capital LLC lifted its stake in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after purchasing an additional 375 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in APA by 12.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after purchasing an additional 380 shares during the period. 83.01% of the stock is owned by institutional investors.

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.