APA (NASDAQ:APA) Price Target Lowered to $26.00 at Piper Sandler

APA (NASDAQ:APA) had its price target trimmed by Piper Sandler from $28.00 to $26.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

APA has been the subject of several other research reports. Mizuho dropped their price objective on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. decreased their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Barclays decreased their price target 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. Evercore ISI decreased 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 note on Monday, September 30th. Finally, Susquehanna reduced their price objective on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $32.81.

APA Stock Performance

NASDAQ:APA opened at $22.43 on Monday. APA has a 12-month low of $21.15 and a 12-month high of $37.82. 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 firm has a market capitalization of $8.30 billion, a PE ratio of 3.17 and a beta of 3.24. The firm has a 50-day moving average price of $24.37 and a 200 day moving average price of $27.47.

APA Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio is currently 14.12%.

Hedge Funds Weigh In On APA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after purchasing an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in APA by 12.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after purchasing an additional 3,411,270 shares in the last quarter. Harris Associates L P increased its position in APA by 20.8% during the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in APA by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after purchasing an additional 485,291 shares in the last quarter. Finally, Smead Capital Management Inc. grew its holdings in APA by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after acquiring an additional 326,042 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.