APA Corporation (NASDAQ:APA) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold”: Of 30 brokerages covering APA, 18 recommend holding, eight recommend buying and four recommend selling. The average 12-month price target is $40.35, above the reported share price of $34.66.
• APA’s latest quarterly results slightly missed expectations, with earnings per share of $1.89 versus the $1.90 consensus and revenue of $2.40 billion versus $2.46 billion expected.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 2.9% yield. Institutional investors own 83.01% of APA, while an insider recently sold 9,800 shares.

APA Corporation (NASDAQ:APA - Get Free Report) has received an average recommendation of "Hold" from the thirty research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $40.3462.

APA has been the subject of several analyst reports. Roth Capital upgraded APA from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $37.00 to $38.00 in a research report on Monday, June 22nd. Scotiabank raised their target price on APA from $26.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Susquehanna reduced their price target on APA from $47.00 to $45.00 and set a "positive" rating for the company in a research report on Tuesday, July 21st. Weiss Ratings cut APA from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. raised their price target on APA from $38.00 to $41.00 in a report on Friday, May 8th.

Insider Buying and Selling

In other news, VP Mark D. Maddox sold 9,800 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the sale, the vice president directly owned 66,810 shares of the company's stock, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On APA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Dockside LLC acquired a new stake in APA in the second quarter worth approximately $5,859,000. Sunpointe LLC increased its position in shares of APA by 7.2% during the 2nd quarter. Sunpointe LLC now owns 8,986 shares of the company's stock valued at $293,000 after purchasing an additional 600 shares during the period. Lodestone Wealth Management LLC raised its stake in shares of APA by 4.2% in the 2nd quarter. Lodestone Wealth Management LLC now owns 78,468 shares of the company's stock worth $2,556,000 after buying an additional 3,185 shares in the last quarter. Signaturefd LLC raised its stake in shares of APA by 23.0% in the 2nd quarter. Signaturefd LLC now owns 17,266 shares of the company's stock worth $562,000 after buying an additional 3,223 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of APA by 61.9% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 10,561 shares of the company's stock worth $344,000 after buying an additional 4,037 shares in the last quarter. Institutional investors own 83.01% of the company's stock.

APA Trading Down 3.2%

Shares of NASDAQ:APA opened at $34.66 on Thursday. The company has a market cap of $12.25 billion, a PE ratio of 8.08 and a beta of 0.35. The company's 50-day moving average price is $35.10 and its 200 day moving average price is $34.59. APA has a fifty-two week low of $17.86 and a fifty-two week high of $45.66. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

APA (NASDAQ:APA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a return on equity of 20.70% and a net margin of 17.38%.The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company posted $0.87 EPS. Sell-side analysts anticipate that APA will post 4.92 earnings per share for the current year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, July 22nd. APA's dividend payout ratio is currently 23.31%.

APA Company Profile

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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