APA’s (APA) Neutral Rating Reiterated at UBS Group

UBS Group reiterated their neutral rating on shares of APA (NASDAQ:APA) in a report published on Monday morning, Marketbeat reports. They currently have a $19.00 price target on the stock, up from their previous price target of $18.00.

Several other research firms have also recently commented on APA. Argus raised shares of APA to a “hold” rating in a research report on Friday, May 16th. Citigroup raised their price objective on shares of APA from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Morgan Stanley raised their price target on shares of APA from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, May 23rd. Susquehanna dropped their price objective on shares of APA from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $25.00 price target (up previously from $23.00) on shares of APA in a report on Friday, May 30th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.72.

APA Stock Performance

APA stock opened at $18.14 on Monday. The firm’s 50 day simple moving average is $18.55 and its 200 day simple moving average is $19.67. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $6.56 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 6.20 and a beta of 1.25. APA has a 1-year low of $13.58 and a 1-year high of $33.41.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, analysts expect that APA will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date is Tuesday, July 22nd. APA’s payout ratio is 35.97%.

Institutional Trading of APA

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its position in APA by 87.1% in the 2nd quarter. Signaturefd LLC now owns 12,585 shares of the company’s stock valued at $230,000 after acquiring an additional 5,857 shares in the last quarter. 1834 Investment Advisors Co. lifted its stake in APA by 0.4% during the second quarter. 1834 Investment Advisors Co. now owns 281,341 shares of the company’s stock worth $5,146,000 after purchasing an additional 1,056 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in APA by 339.7% during the second quarter. State of Alaska Department of Revenue now owns 190,613 shares of the company’s stock worth $3,485,000 after purchasing an additional 147,260 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in APA during the second quarter worth approximately $246,000. Finally, Brave Asset Management Inc. purchased a new stake in APA during the second quarter worth approximately $183,000. 83.01% of the stock is 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.