APA (NASDAQ:APA) Given New $38.00 Price Target at Truist Financial

APA (NASDAQ:APA) had its target price lowered by Truist Financial from $39.00 to $38.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley reduced their price target on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, June 26th. Royal Bank Of Canada lifted their target price on APA from $29.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Wells Fargo & Company boosted their target price on APA from $21.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Mizuho upped their target price on APA from $32.00 to $36.00 and gave the company an “underperform” rating in a research report on Wednesday, May 27th. Finally, Capital One Financial raised their price target on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.85.

APA Stock Up 0.5%

Shares of NASDAQ APA traded up $0.15 during mid-day trading on Friday, hitting $33.44. The company had a trading volume of 3,236,575 shares, compared to its average volume of 5,534,070. The company has a market capitalization of $11.82 billion, a PE ratio of 7.79 and a beta of 0.35. The business’s 50-day simple moving average is $36.10 and its 200 day simple moving average is $33.16. APA has a 1-year low of $17.86 and a 1-year high of $45.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. On average, analysts predict that APA will post 5.18 earnings per share for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. APA’s dividend payout ratio is 23.31%.

Insider Transactions at APA

In related news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at $2,675,072.40. This trade represents a 12.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On APA

A number of large investors have recently bought and sold shares of APA. Hollencrest Capital Management grew its stake in APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Cedar Mountain Advisors LLC purchased a new position in shares of APA during the 1st quarter worth $28,000. Global Assets Advisory LLC acquired a new stake in shares of APA during the first quarter worth $44,000. Altshuler Shaham Ltd grew its position in shares of APA by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock valued at $52,000 after purchasing an additional 330 shares during the period. Finally, Summit Securities Group LLC grew its position in shares of APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after purchasing an additional 710 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.