Barclays Trims APA (NASDAQ:APA) Target Price to $38.00

APA (NASDAQ:APA - Free Report) had its target price reduced by Barclays from $40.00 to $38.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also recently weighed in on the company. Truist Financial dropped their price target on APA from $59.00 to $53.00 and set a buy rating for the company in a report on Friday, April 5th. Morgan Stanley reissued an underweight rating and set a $28.00 target price on shares of APA in a report on Monday, April 15th. Piper Sandler upped their price target on shares of APA from $33.00 to $35.00 and gave the company a neutral rating in a research note on Friday, April 19th. JPMorgan Chase & Co. raised their price target on shares of APA from $38.00 to $40.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Finally, Susquehanna boosted their price objective on shares of APA from $50.00 to $54.00 and gave the company a positive rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, APA currently has an average rating of Hold and an average target price of $42.05.

APA Stock Performance

Shares of APA traded down $1.32 during trading hours on Thursday, hitting $29.18. The company had a trading volume of 13,327,204 shares, compared to its average volume of 6,877,815. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 3.14 and a beta of 3.29. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The business has a fifty day moving average of $32.56 and a 200-day moving average of $34.25. APA has a 12 month low of $28.90 and a 12 month high of $46.15.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a net margin of 34.95% and a return on equity of 62.64%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 earnings per share. Equities analysts anticipate that APA will post 5.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.43%. APA's dividend payout ratio (DPR) is currently 10.78%.

Institutional Trading of APA

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in APA by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 42,643,529 shares of the company's stock valued at $1,530,050,000 after purchasing an additional 924,400 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in APA by 10.6% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company's stock valued at $728,347,000 after buying an additional 1,938,335 shares during the last quarter. Harris Associates L P boosted its position in APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company's stock worth $563,520,000 after buying an additional 2,367,570 shares during the period. Smead Capital Management Inc. boosted its position in APA by 13.6% during the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company's stock worth $187,866,000 after buying an additional 626,460 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in APA by 1.9% during the 3rd quarter. Clearbridge Investments LLC now owns 2,815,109 shares of the company's stock worth $115,701,000 after acquiring an additional 53,241 shares during the last quarter. 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.