APA Corporation (NASDAQ:APA) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• APA Corporation has received a consensus recommendation of "Hold" from twenty research firms, with three sell ratings, fourteen holds, and three buy ratings.
• The average target price for APA stock has been set at $23.83, with various analysts adjusting their estimates upwards recently.
• APA's quarterly earnings report revealed an EPS of $0.87, significantly surpassing analyst estimates of $0.45, although revenue decreased by 14.4% year-over-year.

APA Corporation (NASDAQ:APA - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.8333.

Several analysts have recently issued reports on APA shares. Piper Sandler increased their target price on APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Scotiabank reissued a "sector perform" rating and set a $22.00 target price (up from $14.00) on shares of APA in a report on Friday, July 11th. Roth Capital lowered APA from a "buy" rating to a "neutral" rating and set a $22.00 target price on the stock. in a report on Wednesday, August 13th. Citigroup increased their target price on APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Finally, Barclays increased their target price on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th.

APA Stock Performance

Shares of NASDAQ APA opened at $22.84 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The stock's fifty day moving average price is $20.56 and its two-hundred day moving average price is $18.91. APA has a one year low of $13.58 and a one year high of $27.48. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 7.03 and a beta of 1.29.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $1.17 EPS. The company's revenue for the quarter was down 14.4% on a year-over-year basis. On average, equities analysts forecast that APA will post 4.03 EPS for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.4%. APA's dividend payout ratio (DPR) is 33.44%.

Institutional Trading of APA

Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC boosted its stake in APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after buying an additional 1,382 shares in the last quarter. Rakuten Securities Inc. boosted its stake in APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after buying an additional 1,288 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in APA by 144.9% in the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock valued at $34,000 after buying an additional 1,104 shares in the last quarter. CVA Family Office LLC boosted its stake in APA by 6,096.7% in the second quarter. CVA Family Office LLC now owns 1,859 shares of the company's stock valued at $34,000 after buying an additional 1,829 shares in the last quarter. Finally, MAI Capital Management boosted its stake in APA by 76.5% in the second quarter. MAI Capital Management now owns 2,134 shares of the company's stock valued at $39,000 after buying an additional 925 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.