Susquehanna Lowers APA (NASDAQ:APA) Price Target to $31.00

APA (NASDAQ:APA) had its target price reduced by Susquehanna from $33.00 to $31.00 in a research note published on Monday morning,Benzinga reports. They currently have a positive rating on the stock.

Several other research analysts have also weighed in on APA. The Goldman Sachs Group dropped their price objective on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 price objective on shares of APA in a report on Thursday, January 23rd. Wells Fargo & Company downgraded APA from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $42.00 to $25.00 in a research note on Tuesday, December 17th. Citigroup cut their price target on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Finally, Mizuho reduced their price target on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, APA currently has a consensus rating of “Hold” and an average target price of $29.80.

APA Price Performance

APA opened at $18.89 on Monday. The firm has a market capitalization of $6.99 billion, a P/E ratio of 2.67 and a beta of 3.15. The stock has a fifty day moving average of $22.93 and a 200-day moving average of $23.90. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 12-month low of $18.66 and a 12-month high of $36.04.

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

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s payout ratio is presently 44.25%.

Insider Buying and Selling

In related news, Director Juliet S. Ellis bought 4,391 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the acquisition, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of APA

Several hedge funds have recently modified their holdings of APA. Brown Brothers Harriman & Co. raised its position in APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after purchasing an additional 1,077 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after buying an additional 540 shares during the last quarter. Riverview Trust Co raised its holdings in shares of APA by 5,718.2% in the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after buying an additional 1,258 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in 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 buying an additional 586 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in APA in the 4th quarter valued at about $35,000. Institutional investors and hedge funds 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.