APA Co. (NASDAQ:APA) Receives Average Rating of “Hold” from Brokerages

Shares of APA Co. (NASDAQ:APA) have received an average recommendation of “Hold” from the twenty brokerages that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $32.81.

A number of equities research analysts have commented on APA shares. Piper Sandler cut their target price on shares of APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Citigroup cut their price objective on APA from $32.00 to $29.00 in a report on Friday, October 18th. The Goldman Sachs Group lowered their target price on APA from $26.00 to $25.00 in a report on Friday, October 18th. Royal Bank of Canada cut their price target on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Finally, Barclays lowered their price objective on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, November 8th.

Institutional Trading of APA

Several institutional investors have recently made changes to their positions in the business. TD Private Client Wealth LLC boosted its position in shares of APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after acquiring an additional 540 shares during the last quarter. Covestor Ltd grew its position in shares of APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of APA in the second quarter worth about $42,000. Finally, Huntington National Bank lifted its position in shares of APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after buying an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA stock opened at $22.77 on Tuesday. 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 company has a 50 day moving average price of $24.34 and a 200-day moving average price of $27.40. APA has a 52 week low of $21.15 and a 52 week high of $37.82. The firm has a market capitalization of $8.42 billion, a PE ratio of 3.22 and a beta of 3.24.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.39%. APA’s dividend payout ratio is presently 14.12%.

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.