APA (NASDAQ:APA) Given New $27.00 Price Target at JPMorgan Chase & Co.

APA (NASDAQ:APA) had its price target trimmed by JPMorgan Chase & Co. from $36.00 to $27.00 in a research note published on Friday. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently commented on APA. Wells Fargo & Company reduced their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Bernstein Bank dropped their price objective on APA from $30.00 to $28.00 in a research note on Friday. Piper Sandler dropped their price objective on APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday. Sanford C. Bernstein dropped their price objective on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Finally, Truist Financial upped their price objective on APA from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and a consensus price target of $34.18.

APA Stock Up 1.0 %

APA stock opened at $25.16 on Friday. The stock has a market cap of $9.34 billion, a PE ratio of 2.81 and a beta of 3.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. APA has a one year low of $22.72 and a one year high of $43.58. The stock has a fifty day moving average of $26.43 and a 200 day moving average of $29.11.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that APA will post 3.97 EPS for the current year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Institutional Investors Weigh In On APA

Several institutional investors have recently modified their holdings of the stock. OLD National Bancorp IN lifted its stake in shares of APA by 64.6% in the 3rd quarter. OLD National Bancorp IN now owns 210,230 shares of the company’s stock valued at $5,142,000 after purchasing an additional 82,545 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of APA by 32.4% in the 3rd quarter. Resonant Capital Advisors LLC now owns 12,114 shares of the company’s stock valued at $296,000 after purchasing an additional 2,964 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after buying an additional 1,604 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of APA by 32.1% in the third quarter. V Square Quantitative Management LLC now owns 10,173 shares of the company’s stock worth $249,000 after buying an additional 2,470 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of APA by 2.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,644 shares of the company’s stock worth $847,000 after buying an additional 952 shares during the period. 83.01% of the stock is owned by institutional investors.

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.