APA Corporation (NASDAQ:APA) Stock Has Average Target Price of $43.14 According to Brokerages

Key Points

• Analyst consensus is “Hold” for APA, with 16 hold, 11 buy, and 4 sell ratings among 31 brokerages. The average 12-month price target is $43.14, slightly below the reported share price of $43.68.
• APA’s latest quarter narrowly missed expectations, reporting $1.89 EPS versus a $1.90 consensus and revenue of $2.37 billion versus $2.46 billion expected.
• The company authorized a 40 million-share repurchase program and announced a quarterly dividend of $0.25, equivalent to a $1.00 annualized payout and a 2.3% yield.

Shares of APA Corporation (NASDAQ:APA - Get Free Report) have earned a consensus recommendation of "Hold" from the thirty-one brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $43.14.

APA has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of APA from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 2nd. The Goldman Sachs Group reissued a "sell" rating and set a $43.00 price objective on shares of APA in a research note on Monday, September 7th. Susquehanna upped their price objective on shares of APA from $45.00 to $47.00 and gave the stock a "positive" rating in a report on Tuesday, August 11th. Citigroup lifted their target price on shares of APA from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, August 20th. Finally, Weiss Ratings raised APA from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 17th.

Hedge Funds Weigh In On APA

Several large investors have recently modified their holdings of APA. Hollencrest Capital Management raised its holdings in APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after buying an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of APA during the first quarter valued at approximately $28,000. Compass Financial Management LLC bought a new stake in shares of APA during the second quarter valued at approximately $33,000. MidFirst Bank purchased a new position in APA in the 2nd quarter worth approximately $33,000. Finally, Global Assets Advisory LLC purchased a new position in APA in the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Trading Down 0.0%

APA opened at $43.68 on Friday. The stock has a market cap of $15.30 billion, a PE ratio of 9.23, a PEG ratio of 0.73 and a beta of 0.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $40.89 and a 200-day moving average of $38.39. APA has a 52 week low of $21.63 and a 52 week high of $47.44.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same quarter last year, the company posted $0.87 EPS. Equities research analysts predict that APA will post 5.8 earnings per share for the current fiscal year.

APA announced that its board has approved a share repurchase program on Wednesday, September 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 22nd. APA's payout ratio is 21.14%.

APA Company Profile

APA Corporation NASDAQ: APA is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.

APA's principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country's offshore blocks.

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