APA (NASDAQ:APA) Rating Reiterated by Morgan Stanley

Morgan Stanley restated their underweight rating on shares of APA (NASDAQ:APA) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $28.00 target price on the stock.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group lowered their price objective on shares of APA from $35.00 to $31.00 and set a sell rating for the company in a research report on Tuesday, March 26th. Susquehanna lowered their price objective on shares of APA from $53.00 to $50.00 and set a positive rating for the company in a research report on Friday, January 26th. Barclays started coverage on shares of APA in a research report on Wednesday, April 10th. They set an equal weight rating and a $40.00 price target for the company. Piper Sandler decreased their price target on shares of APA from $36.00 to $33.00 and set a neutral rating for the company in a research report on Thursday, March 7th. Finally, StockNews.com raised shares of APA from a hold rating to a buy rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $41.80.

APA Stock Up 0.5 %

Shares of NASDAQ:APA opened at $32.43 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. APA has a 52-week low of $29.47 and a 52-week high of $46.15. The company has a 50 day moving average of $32.32 and a two-hundred day moving average of $34.72. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 3.49 and a beta of 3.27.

APA (NASDAQ:APA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business earned $1.48 EPS. The firm’s revenue was down 12.3% compared to the same quarter last year. As a group, analysts forecast that APA will post 4.85 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.08%. APA’s dividend payout ratio is 10.78%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Harris Associates L P boosted its stake in APA by 17.8% in the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after buying an additional 2,367,570 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in APA by 191.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,248 shares of the company’s stock valued at $129,952,000 after buying an additional 2,064,022 shares during the last quarter. Vanguard Group Inc. raised its position in APA by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock valued at $1,714,656,000 after buying an additional 2,003,862 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in APA by 10.6% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after buying an additional 1,938,335 shares during the last quarter. Finally, Barclays PLC grew its stake in APA by 113.4% in the second quarter. Barclays PLC now owns 2,026,480 shares of the company’s stock valued at $69,245,000 after purchasing an additional 1,076,668 shares in the last quarter. 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.