APA (NASDAQ:APA) Price Target Raised to $20.00 at JPMorgan Chase & Co.

APA (NASDAQ:APA - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $19.00 to $20.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Barclays set a $21.00 price objective on shares of APA and gave the company an "equal weight" rating in a report on Monday, July 7th. Mizuho lowered their target price on shares of APA from $20.00 to $19.00 and set an "underperform" rating for the company in a research note on Tuesday, May 13th. Scotiabank increased their target price on shares of APA from $14.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Friday. Argus raised shares of APA to a "hold" rating in a research note on Friday, May 16th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $25.00 target price (up previously from $23.00) on shares of APA in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.28.

APA Price Performance

NASDAQ:APA traded down $0.29 during trading hours on Friday, reaching $20.11. 5,445,571 shares of the company were exchanged, compared to its average volume of 7,257,555. The stock's 50-day moving average is $18.36 and its 200-day moving average is $19.72. The firm has a market cap of $7.27 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 6.49 and a beta of 1.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. APA has a twelve month low of $13.58 and a twelve month high of $33.41.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. APA's quarterly revenue was up 35.1% on a year-over-year basis. On average, sell-side analysts anticipate that APA will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.97%. APA's payout ratio is currently 35.97%.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Brown Brothers Harriman & Co. raised its holdings in APA by 1,087.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock worth $27,000 after purchasing an additional 1,077 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after acquiring an additional 1,382 shares during the period. Rakuten Securities Inc. increased its holdings in shares of APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after acquiring an additional 1,288 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in shares of APA in the 4th quarter valued at $35,000. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of APA in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 83.01% of the company's stock.

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.