APA (NASDAQ:APA) Reaches New 1-Year Low Following Analyst Downgrade

APA Co. (NASDAQ:APA) shares hit a new 52-week low on Tuesday after Piper Sandler lowered their price target on the stock from $26.00 to $23.00. Piper Sandler currently has a neutral rating on the stock. APA traded as low as $20.58 and last traded at $20.69, with a volume of 2536462 shares changing hands. The stock had previously closed at $21.94.

A number of other research analysts have also recently weighed in on APA. Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $42.00 to $25.00 in a report on Tuesday. 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 report on Monday, November 11th. Evercore ISI reduced their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Truist Financial dropped their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, UBS Group dropped their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.14.

Insider Transactions at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of APA

Several hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC grew its holdings 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 purchasing an additional 540 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new stake in APA during the 2nd quarter worth about $42,000. Huntington National Bank grew its holdings in APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares during the last quarter. Finally, Blue Trust Inc. increased its position in APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after acquiring an additional 1,604 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

The stock’s 50 day simple moving average is $23.30 and its two-hundred day simple moving average is $26.44. The company has a market capitalization of $7.79 billion, a P/E ratio of 2.97 and a beta of 3.18. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio (DPR) is 14.12%.

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.