Citigroup Cuts APA (NASDAQ:APA) Price Target to $24.00

APA (NASDAQ:APA) had its price objective lowered by Citigroup from $29.00 to $24.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

APA has been the topic of a number of other reports. The Goldman Sachs Group lowered their price target on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Evercore ISI dropped their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Barclays reduced their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Piper Sandler lowered their price target on APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Finally, Bernstein Bank reduced their price objective on APA from $30.00 to $28.00 in a report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.57.

APA Price Performance

APA stock opened at $22.52 on Tuesday. The stock’s 50 day moving average price is $24.20 and its 200 day moving average price is $27.24. APA has a 1-year low of $21.15 and a 1-year high of $37.82. The company has a market cap of $8.33 billion, a PE ratio of 3.18 and a beta of 3.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Tuesday, October 22nd. APA’s payout ratio is 14.12%.

Institutional Trading of APA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunpointe LLC lifted its holdings in shares of APA by 2.8% during the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after acquiring an additional 362 shares during the period. GAMMA Investing LLC raised its stake in APA by 12.0% during the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after purchasing an additional 380 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after purchasing an additional 429 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of APA by 7.1% in the 2nd quarter. Signaturefd LLC now owns 7,108 shares of the company’s stock valued at $209,000 after purchasing an additional 472 shares during the last quarter. Finally, Washington Trust Bank increased its holdings in shares of APA by 5.9% during the 2nd quarter. Washington Trust Bank now owns 8,794 shares of the company’s stock worth $259,000 after buying an additional 492 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.