Royal Bank of Canada Cuts APA (NASDAQ:APA) Price Target to $32.00

APA (NASDAQ:APA) had its price objective decreased by Royal Bank of Canada from $34.00 to $32.00 in a research report sent to investors on Monday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other research firms have also recently weighed in on APA. Evercore ISI dropped their price target on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. The Goldman Sachs Group dropped their price objective on shares of APA from $26.00 to $25.00 in a research report on Friday, October 18th. Wells Fargo & Company reduced their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Citigroup lowered their price target on shares of APA from $32.00 to $29.00 in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their price objective on APA from $36.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $32.95.

APA Price Performance

NASDAQ:APA opened at $22.02 on Monday. APA has a 12-month low of $21.15 and a 12-month high of $38.27. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 3.11 and a beta of 3.24. The stock’s 50 day moving average price is $24.64 and its two-hundred day moving average price is $27.80. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.54%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is currently 14.12%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its stake in shares of APA by 18.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in APA by 18.0% in the first quarter. Texas Permanent School Fund Corp now owns 74,602 shares of the company’s stock valued at $2,565,000 after buying an additional 11,358 shares in the last quarter. Swiss National Bank grew its stake in shares of APA by 13.2% during the first quarter. Swiss National Bank now owns 1,088,362 shares of the company’s stock worth $37,418,000 after buying an additional 126,762 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of APA by 3.7% during the first quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock worth $445,000 after buying an additional 457 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in shares of APA in the 1st quarter valued at $543,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

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.