Wells Fargo & Company Cuts APA (NASDAQ:APA) Price Target to $52.00

APA (NASDAQ:APA) had its price objective cut by Wells Fargo & Company from $53.00 to $52.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently issued reports on APA. The Goldman Sachs Group cut their price target on APA from $35.00 to $31.00 and set a sell rating for the company in a report on Tuesday, March 26th. Morgan Stanley reissued an underweight rating and issued a $28.00 price target on shares of APA in a report on Monday, April 15th. Truist Financial reduced their price objective on APA from $59.00 to $53.00 and set a buy rating for the company in a report on Friday, April 5th. Raymond James decreased their target price on APA from $44.00 to $43.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Finally, Susquehanna lifted their price target on APA from $54.00 to $57.00 and gave the stock a positive rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, APA currently has an average rating of Hold and an average price target of $41.90.

APA Price Performance

Shares of NASDAQ APA opened at $29.36 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50-day moving average of $32.38 and a 200-day moving average of $33.00. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 3.28 and a beta of 3.29. APA has a fifty-two week low of $28.90 and a fifty-two week high of $46.15.

APA (NASDAQ:APA) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. As a group, sell-side analysts predict that APA will post 4.63 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be issued a $0.25 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.41%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Trading of APA

Institutional investors have recently modified their holdings of the business. Harris Associates L P raised its holdings in APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after purchasing an additional 2,367,570 shares during the last quarter. Vanguard Group Inc. lifted its holdings in APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after acquiring an additional 1,938,335 shares during the last quarter. Ameriprise Financial Inc. boosted its position in APA by 130.0% during the third quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company’s stock valued at $63,037,000 after acquiring an additional 867,257 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in APA by 1,527.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 921,662 shares of the company’s stock worth $37,880,000 after acquiring an additional 865,026 shares during the period. Institutional investors own 83.01% of the company’s stock.

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.