APA (NASDAQ:APA) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of APA (NASDAQ:APA - Free Report) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $45.00 price objective on the stock.

APA has been the subject of a number of other reports. Johnson Rice downgraded APA from a buy rating to a hold rating and set a $40.00 price objective for the company. in a research note on Friday, January 5th. Mizuho decreased their price target on APA from $36.00 to $34.00 and set an underperform rating for the company in a research note on Friday, March 15th. Piper Sandler decreased their price target on APA from $36.00 to $33.00 and set a neutral rating for the company in a research note on Thursday, March 7th. Raymond James decreased their price target on APA from $44.00 to $43.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Finally, The Goldman Sachs Group decreased their price target on APA from $35.00 to $31.00 and set a sell rating for the company in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $42.56.

APA Stock Performance

Shares of APA stock traded down $0.70 on Monday, hitting $35.04. 6,293,684 shares of the stock traded hands, compared to its average volume of 7,007,061. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $10.58 billion, a PE ratio of 3.78 and a beta of 3.27. APA has a 1-year low of $29.47 and a 1-year high of $46.15. The company's fifty day moving average is $31.88 and its 200 day moving average is $35.06.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. APA had a net margin of 34.95% and a return on equity of 62.64%. The business's revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. On average, equities research analysts predict that APA will post 4.46 earnings per share for the current fiscal year.

APA Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, April 19th. APA's dividend payout ratio is 10.78%.

Institutional Investors Weigh In On APA

Hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC acquired a new stake in APA during the 3rd quarter worth about $256,000. Ferguson Wellman Capital Management Inc. boosted its position in APA by 3.2% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company's stock worth $44,412,000 after acquiring an additional 38,505 shares during the period. AustralianSuper Pty Ltd boosted its position in APA by 14.3% during the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company's stock worth $26,053,000 after acquiring an additional 90,610 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of APA by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company's stock valued at $104,037,000 after buying an additional 24,182 shares during the last quarter. Finally, Smead Capital Management Inc. lifted its holdings in shares of APA by 3.8% during the 3rd quarter. Smead Capital Management Inc. now owns 4,609,497 shares of the company's stock valued at $189,450,000 after buying an additional 167,934 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

About APA

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.