APA (NASDAQ:APA) Sets New 52-Week Low – Should You Sell?

APA Co. (NASDAQ:APA) hit a new 52-week low on Friday . The company traded as low as $21.11 and last traded at $21.16, with a volume of 1882292 shares traded. The stock had previously closed at $21.84.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APA. Piper Sandler reduced their price target on shares of APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Royal Bank of Canada reduced their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Truist Financial reduced their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, 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. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.57.

APA Stock Down 1.9 %

The firm’s 50-day simple moving average is $23.84 and its 200 day simple moving average is $26.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $7.92 billion, a P/E ratio of 3.03 and a beta of 3.18.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.67%. APA’s dividend payout ratio (DPR) is presently 14.12%.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of APA by 25.4% during the 2nd quarter. CWM LLC now owns 11,604 shares of the company’s stock worth $342,000 after purchasing an additional 2,349 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of APA by 49.2% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 9,369 shares of the company’s stock worth $276,000 after purchasing an additional 3,089 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of APA by 27.6% during the 2nd quarter. QRG Capital Management Inc. now owns 15,947 shares of the company’s stock worth $469,000 after purchasing an additional 3,448 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of APA by 36.9% during the 2nd quarter. SG Americas Securities LLC now owns 226,947 shares of the company’s stock worth $6,681,000 after purchasing an additional 61,153 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in shares of APA by 35.8% during the 2nd quarter. Gateway Investment Advisers LLC now owns 8,300 shares of the company’s stock worth $244,000 after purchasing an additional 2,188 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

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.