APA (NASDAQ:APA) Price Target Cut to $22.00 by Analysts at Piper Sandler

APA (NASDAQ:APA - Free Report) had its price target reduced by Piper Sandler from $23.00 to $22.00 in a research report released on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on the company. Susquehanna reduced their target price on APA from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on APA from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company dropped their target price on APA from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group reiterated a "sell" rating and set a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. Finally, Morgan Stanley set a $20.00 price objective on shares of APA and gave the stock an "underweight" rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $25.79.

APA Price Performance

Shares of NASDAQ:APA traded up $0.09 on Tuesday, hitting $16.35. The company's stock had a trading volume of 4,636,640 shares, compared to its average volume of 6,851,839. The company has a market capitalization of $5.91 billion, a PE ratio of 2.31 and a beta of 2.74. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50-day simple moving average of $18.71 and a 200 day simple moving average of $21.58. APA has a 1 year low of $13.58 and a 1 year high of $33.41.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.31 billion. Sell-side analysts forecast that APA will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.12%. The ex-dividend date is Tuesday, April 22nd. APA's dividend payout ratio (DPR) is currently 44.25%.

Hedge Funds Weigh In On APA

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in APA by 11.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 207,210 shares of the company's stock valued at $4,378,000 after acquiring an additional 21,630 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of APA by 12.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 347,686 shares of the company's stock valued at $7,274,000 after purchasing an additional 39,574 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in shares of APA during the first quarter valued at about $888,000. Illinois Municipal Retirement Fund raised its stake in APA by 101.6% in the first quarter. Illinois Municipal Retirement Fund now owns 48,201 shares of the company's stock worth $1,013,000 after buying an additional 24,286 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its holdings in APA by 73.6% in the first quarter. Transcend Capital Advisors LLC now owns 18,139 shares of the company's stock worth $381,000 after buying an additional 7,690 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.