APA (NASDAQ:APA) Price Target Cut to $23.00 by Analysts at Wells Fargo & Company

APA (NASDAQ:APA) had its price target cut by Wells Fargo & Company from $25.00 to $23.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued research reports about the company. Barclays dropped their target price on APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. cut their price objective on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Piper Sandler dropped their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Raymond James cut shares of APA from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $45.00 to $32.00 in a research note on Monday, March 10th. Finally, Susquehanna dropped their target price on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, March 3rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.20.

APA Trading Up 1.0 %

NASDAQ APA opened at $21.10 on Wednesday. APA has a 52 week low of $17.66 and a 52 week high of $36.05. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50 day moving average price is $21.73 and its two-hundred day moving average price is $22.96. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 2.98 and a beta of 3.26.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. As a group, analysts anticipate that APA will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio is 44.25%.

Institutional Trading of APA

A number of institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. boosted its stake in shares of APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after buying an additional 1,077 shares during the period. TD Private Client Wealth LLC raised its holdings in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. Riverview Trust Co lifted its position in shares of APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after acquiring an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after purchasing an additional 586 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of APA in the fourth quarter worth $35,000. Institutional investors own 83.01% of the company’s stock.

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.