APA (NASDAQ:APA) Given New $32.00 Price Target at Mizuho

APA (NASDAQ:APA) had its target price lowered by Mizuho from $34.00 to $32.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an underperform rating on the stock.

APA has been the subject of several other research reports. Barclays began coverage on APA in a research note on Wednesday, April 10th. They set an equal weight rating and a $40.00 target price for the company. StockNews.com upgraded shares of APA from a hold rating to a buy rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. upped their target price on shares of APA from $38.00 to $40.00 and gave the company a neutral rating in a research note on Thursday, April 11th. The Goldman Sachs Group decreased their target price on APA from $35.00 to $31.00 and set a sell rating on the stock in a research report on Tuesday, March 26th. Finally, Piper Sandler raised their price objective on APA from $33.00 to $35.00 and gave the stock a neutral rating in a research report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned 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 presently has an average rating of Hold and an average target price of $42.05.

APA Stock Performance

Shares of NASDAQ APA opened at $29.26 on Thursday. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 3.27 and a beta of 3.29. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.16. The business’s 50-day simple moving average is $32.52 and its 200-day simple moving average is $34.07. APA has a 52 week low of $28.90 and a 52 week high of $46.15.

APA (NASDAQ:APA) last announced its earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business earned $1.19 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that APA will post 5.03 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, April 19th. APA’s dividend payout ratio is currently 11.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. American National Bank grew its position in APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of APA during the 3rd quarter worth approximately $34,000. Quent Capital LLC increased its position in shares of APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after purchasing an additional 375 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of APA during the 4th quarter worth approximately $34,000. Finally, Principal Securities Inc. acquired a new stake in shares of APA in the 4th quarter valued at approximately $39,000. 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.