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

APA (NASDAQ:APA) had its price objective lowered by Susquehanna from $33.00 to $31.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other brokerages have also recently weighed in on APA. JPMorgan Chase & Co. dropped their price target on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Piper Sandler lowered their price target on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. UBS Group reduced their price objective on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Truist Financial reduced their price objective on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $42.00 to $25.00 in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.80.

APA Stock Performance

Shares of APA stock opened at $18.54 on Monday. The firm has a market capitalization of $6.86 billion, a P/E ratio of 2.62 and a beta of 3.26. APA has a 52 week low of $17.66 and a 52 week high of $36.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $22.80 and its two-hundred day moving average is $23.79.

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

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 5.39%. APA’s dividend payout ratio is 44.25%.

Insider Transactions at APA

In other APA news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction on Thursday, December 12th. The shares were purchased at an average price 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 $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. boosted its stake in APA by 1,087.9% during 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 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Riverview Trust Co raised its holdings in shares of APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after acquiring an additional 586 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in APA during the 4th quarter valued at $35,000. 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.