APA Corporation (NASDAQ:APA) Stock Has Average Price Target of $45.31 According to Analysts

Key Points

• Analysts rate APA “Hold” on average: Among 31 analysts, 15 recommend holding, 12 recommend buying or strong buying, and four recommend selling. The average 12-month price target is $45.31.
• Quarterly results topped expectations: APA reported earnings of $1.94 per share versus the $1.60 consensus and revenue of $2.77 billion, up 30.9% year over year.
• APA authorized a buyback and declared a dividend: The company approved repurchases of up to 40 million shares and announced a quarterly dividend of $0.25 per share.

APA Corporation (NASDAQ:APA - Get Free Report) has earned an average rating of "Hold" from the thirty-one research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $45.31.

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of APA from $44.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Friday. Wall Street Zen raised shares of APA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 7th. UBS Group upped their price objective on APA from $47.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, October 12th. Seaport Research Partners initiated coverage on APA in a research note on Thursday, September 3rd. They issued a "neutral" rating for the company. Finally, Scotiabank began coverage on APA in a report on Wednesday, October 14th. They issued a "sector perform" rating and a $44.00 target price on the stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Plustick Management LLC purchased a new stake in APA in the 3rd quarter worth approximately $2,077,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in APA by 36.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 587,549 shares of the company's stock worth $24,407,000 after acquiring an additional 158,450 shares during the period. US Asset Management LLC raised its stake in APA by 47.5% during the 3rd quarter. US Asset Management LLC now owns 9,721 shares of the company's stock worth $404,000 after acquiring an additional 3,132 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in APA by 11.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 349,570 shares of the company's stock valued at $14,521,000 after purchasing an additional 35,782 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in APA by 33.3% during the third quarter. Bleakley Financial Group LLC now owns 32,634 shares of the company's stock valued at $1,356,000 after purchasing an additional 8,157 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Trading Up 1.6%

Shares of NASDAQ:APA opened at $48.44 on Friday. The stock's 50-day simple moving average is $46.18 and its two-hundred day simple moving average is $38.59. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.71 and a beta of 0.29. APA has a 52-week low of $23.06 and a 52-week high of $52.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.60 by $0.34. APA had a net margin of 23.08% and a return on equity of 28.34%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business's revenue for the quarter was up 30.9% compared to the same quarter last year. Analysts expect that APA will post 6.72 EPS for the current year.

APA declared that its board has approved a stock repurchase program on Wednesday, September 16th that authorizes the company to buy back 40,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Share repurchase programs are typically a sign that the company's board believes its shares are undervalued.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. APA's dividend payout ratio is presently 16.23%.

APA Company Profile

APA Corporation is an independent energy company that explores for, develops and produces crude oil, natural gas and natural gas liquids. Its activities include operating wells and related infrastructure, as well as evaluating and developing oil and natural gas resources. The company's principal operating areas include the United States and Egypt. APA also has offshore exploration interests in Suriname, where it has worked with partners to assess resources in the region. APA traces its history to Apache Corporation, founded in 1954.

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