Truist Financial Raises APA (NASDAQ:APA) Price Target to $46.00

APA (NASDAQ:APA) had its price target boosted by Truist Financial from $45.00 to $46.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on APA. Piper Sandler upped their target price on APA from $33.00 to $34.00 and gave the company a neutral rating in a research note on Thursday, July 18th. Mizuho increased their price target on APA from $34.00 to $35.00 and gave the company an underperform rating in a report on Tuesday, May 21st. Barclays lowered their price target on APA from $40.00 to $38.00 and set an equal weight rating for the company in a report on Thursday, May 2nd. Scotiabank lowered their target price on APA from $37.00 to $30.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of APA from $38.00 to $40.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Four 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’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $38.91.

APA Stock Performance

NASDAQ APA opened at $28.59 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.16 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $29.69 and its two-hundred day moving average is $30.98. APA has a 12-month low of $27.17 and a 12-month high of $46.15. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 3.20 and a beta of 3.26.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 EPS. Research analysts expect that APA will post 4.17 EPS for the current year.

APA Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.50%. APA’s dividend payout ratio is presently 11.19%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APA. American National Bank boosted its stake in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of APA in the 4th quarter valued at $34,000. Covestor Ltd raised its holdings in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the period. Principal Securities Inc. bought a new position in APA in the 4th quarter worth $39,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.