APA (NASDAQ:APA) Shares Gap Up - Should You Buy?

APA Co. (NASDAQ:APA - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $17.01, but opened at $17.70. APA shares last traded at $17.38, with a volume of 952,006 shares changing hands.

Wall Street Analysts Forecast Growth

APA has been the subject of several recent research reports. The Goldman Sachs Group reissued a "sell" rating and issued a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. Citigroup boosted 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. Morgan Stanley boosted their target price on APA from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Friday, May 23rd. Piper Sandler reduced their target price on APA from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Mizuho reduced their target price on APA from $20.00 to $19.00 and set an "underperform" rating for the company in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, APA presently has a consensus rating of "Hold" and a consensus target price of $25.21.

APA Stock Down 1.9%

The business has a 50 day moving average of $16.69 and a 200 day moving average of $20.23. 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 firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 2.53 and a beta of 1.18.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.23. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. APA's revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. On average, equities analysts anticipate that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.58%. APA's payout ratio is 35.97%.

Institutional Trading of APA

A number of large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in shares of APA by 22.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company's stock worth $1,503,000 after purchasing an additional 12,077 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of APA by 95.1% during the fourth quarter. Blue Trust Inc. now owns 5,035 shares of the company's stock worth $123,000 after purchasing an additional 2,454 shares during the last quarter. abrdn plc grew its holdings in shares of APA by 48.4% during the fourth quarter. abrdn plc now owns 108,311 shares of the company's stock worth $2,504,000 after purchasing an additional 35,317 shares during the last quarter. Verity Asset Management Inc. bought a new stake in shares of APA during the fourth quarter worth $286,000. Finally, Mather Group LLC. grew its holdings in shares of APA by 100.4% during the fourth quarter. Mather Group LLC. now owns 5,960 shares of the company's stock worth $138,000 after purchasing an additional 2,986 shares during the last quarter. 83.01% of the stock is currently owned by 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.