APA (NASDAQ:APA) Price Target Raised to $37.00 at KeyCorp

APA (NASDAQ:APA) had its price target lifted by KeyCorp from $33.00 to $37.00 in a research note issued to investors on Wednesday morning, Analyst Ratings Network reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on the stock. Scotiabank raised shares of APA from a sector perform rating to a sector outperform rating and boosted their price target for the company from $24.00 to $36.00 in a report on Wednesday, November 17th. Morgan Stanley boosted their price target on shares of APA from $37.00 to $39.00 and gave the company an overweight rating in a report on Monday, January 3rd. MKM Partners upped their target price on shares of APA from $33.00 to $36.00 and gave the stock a buy rating in a research note on Wednesday, November 10th. Truist Securities raised shares of APA from a hold rating to a buy rating and upped their target price for the stock from $29.00 to $45.00 in a research note on Thursday, November 4th. Finally, TheStreet raised shares of APA from a d+ rating to a c- rating in a research note on Tuesday, October 19th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $34.55.

Shares of APA stock opened at $33.29 on Wednesday. The firm has a fifty day moving average of $27.66 and a two-hundred day moving average of $23.37. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 0.31 and a beta of 4.73. APA has a 52 week low of $14.03 and a 52 week high of $33.37. The company has a debt-to-equity ratio of 110.79, a quick ratio of 1.19 and a current ratio of 1.19.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.09. APA had a net margin of 8.91% and a negative return on equity of 393.47%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned ($0.16) EPS. As a group, research analysts forecast that APA will post 4.09 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 22nd. Shareholders of record on Friday, January 21st will be issued a $0.125 dividend. This is a boost from APA’s previous quarterly dividend of $0.06. This represents a $0.50 annualized dividend and a yield of 1.50%. The ex-dividend date is Thursday, January 20th. APA’s dividend payout ratio is currently 16.67%.

A number of institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management raised its holdings in APA by 312.3% in the 4th quarter. Spire Wealth Management now owns 3,191 shares of the company’s stock valued at $86,000 after acquiring an additional 2,417 shares during the period. Contravisory Investment Management Inc. raised its holdings in APA by 37.8% in the 4th quarter. Contravisory Investment Management Inc. now owns 23,361 shares of the company’s stock valued at $628,000 after acquiring an additional 6,413 shares during the period. IFP Advisors Inc raised its holdings in APA by 114.6% in the 4th quarter. IFP Advisors Inc now owns 3,489 shares of the company’s stock valued at $95,000 after acquiring an additional 1,863 shares during the period. Foundation Resource Management Inc. raised its holdings in APA by 114.9% in the 4th quarter. Foundation Resource Management Inc. now owns 239,906 shares of the company’s stock valued at $6,451,000 after acquiring an additional 128,262 shares during the period. Finally, Symmetry Partners LLC bought a new position in APA in the 4th quarter valued at about $253,000. 86.34% of the stock is currently owned by hedge funds and other institutional investors.

APA Company Profile

APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. The company was founded in 1954 and is headquartered in Houston, TX.

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Analyst Recommendations for APA (NASDAQ:APA)

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