APA (NASDAQ:APA) Price Target Lowered to $30.00 at Barclays

APA (NASDAQ:APA) had its target price cut by Barclays from $35.00 to $30.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently commented on APA. Susquehanna reduced their target price on shares of APA from $57.00 to $52.00 and set a positive rating for the company in a report on Wednesday, September 4th. Wolfe Research began coverage on shares of APA in a research note on Thursday, July 18th. They set an outperform rating and a $42.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on APA from $36.00 to $27.00 and set a neutral rating on the stock in a research report on Thursday, September 12th. Evercore ISI reduced their price target on APA from $39.00 to $33.00 and set an in-line rating for the company in a research report on Monday. Finally, Mizuho lowered their price target on APA from $35.00 to $28.00 and set an underperform rating on the stock in a research report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $35.19.

APA Price Performance

NASDAQ APA opened at $26.53 on Thursday. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 2.97 and a beta of 3.24. APA has a 52-week low of $22.72 and a 52-week high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50 day simple moving average of $27.24 and a 200 day simple moving average of $29.72.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. Analysts anticipate that APA will post 4.04 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.77%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Investors Weigh In On APA

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position 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 purchasing an additional 1,938,335 shares during the period. Harris Associates L P increased its stake in APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after purchasing an additional 2,367,570 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in APA by 131.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after buying an additional 2,736,041 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of APA by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after buying an additional 455,312 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.