Wells Fargo & Company Trims APA (NASDAQ:APA) Target Price to $47.00

APA (NASDAQ:APA) had its target price reduced by Wells Fargo & Company from $49.00 to $47.00 in a report published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the stock. Evercore ISI decreased their price objective on shares of APA from $39.00 to $33.00 and set an in-line rating on the stock in a report on Monday. Barclays reissued an equal weight rating and set a $35.00 price objective on shares of APA in a report on Wednesday, September 11th. Mizuho decreased their price objective on shares of APA from $35.00 to $28.00 and set an underperform rating on the stock in a report on Monday, September 16th. Truist Financial decreased their price objective on shares of APA from $46.00 to $34.00 and set a buy rating on the stock in a report on Monday. Finally, Sanford C. Bernstein decreased their price objective on shares of APA from $37.00 to $30.00 and set a market perform rating on the stock in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $35.19.

APA Trading Up 3.0 %

Shares of APA stock opened at $26.53 on Tuesday. APA has a 1 year low of $22.72 and a 1 year high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $9.85 billion, a P/E ratio of 2.98 and a beta of 3.24. The company’s fifty day moving average is $27.24 and its two-hundred day moving average is $29.72.

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

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.77%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APA. American National Bank boosted its stake in APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after acquiring an additional 490 shares during the last quarter. Covestor Ltd raised its holdings in shares of APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the period. Rothschild Investment LLC acquired a new stake in shares of APA during the second quarter worth $42,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares during the period. 83.01% of the stock is currently owned by hedge funds and other 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.